The Carlyle Group (NASDAQ:CG) Price Target Raised to $56.00

The Carlyle Group (NASDAQ:CG) had its price objective lifted by Wells Fargo & Company from $54.00 to $56.00 in a report published on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the financial services provider’s stock.

A number of other brokerages have also issued reports on CG. StockNews.com lowered The Carlyle Group from a “hold” rating to a “sell” rating in a research note on Sunday, December 8th. Barclays raised their price target on The Carlyle Group from $57.00 to $59.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. TD Cowen raised their price target on The Carlyle Group from $43.00 to $49.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Redburn Atlantic began coverage on The Carlyle Group in a research note on Tuesday, August 27th. They issued a “buy” rating and a $55.00 price objective on the stock. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $60.00 price objective on shares of The Carlyle Group in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $54.00.

The Carlyle Group Trading Down 0.8 %

Shares of CG stock opened at $52.64 on Thursday. The Carlyle Group has a fifty-two week low of $36.65 and a fifty-two week high of $55.11. The stock has a market cap of $18.83 billion, a P/E ratio of 181.52, a P/E/G ratio of 1.45 and a beta of 1.69. The business has a fifty day simple moving average of $51.21 and a 200-day simple moving average of $45.05. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 1.38.

The Carlyle Group (NASDAQ:CG) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. The business had revenue of $895.00 million for the quarter, compared to analyst estimates of $908.17 million. The Carlyle Group had a return on equity of 24.91% and a net margin of 2.21%. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.87 earnings per share. On average, analysts forecast that The Carlyle Group will post 3.77 earnings per share for the current fiscal year.

The Carlyle Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were given a $0.35 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.40 annualized dividend and a dividend yield of 2.66%. The Carlyle Group’s payout ratio is 482.76%.

Insider Transactions at The Carlyle Group

In other The Carlyle Group news, Director Daniel A. D’aniello sold 495,542 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $51.53, for a total transaction of $25,535,279.26. Following the completion of the transaction, the director now owns 32,504,102 shares in the company, valued at approximately $1,674,936,376.06. The trade was a 1.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Carlyle Group Inc. sold 924,466 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $2.14, for a total value of $1,978,357.24. Following the transaction, the insider now owns 3,643,231 shares of the company’s stock, valued at $7,796,514.34. This trade represents a 20.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,171,556 shares of company stock worth $29,222,475. 27.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its stake in shares of The Carlyle Group by 72.8% in the 3rd quarter. FMR LLC now owns 4,051,757 shares of the financial services provider’s stock worth $174,469,000 after buying an additional 1,707,520 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of The Carlyle Group by 17,468.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,715,748 shares of the financial services provider’s stock worth $68,887,000 after buying an additional 1,705,982 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of The Carlyle Group in the 2nd quarter worth $37,009,000. National Bank of Canada FI raised its stake in shares of The Carlyle Group by 89.3% in the 2nd quarter. National Bank of Canada FI now owns 764,765 shares of the financial services provider’s stock worth $30,269,000 after buying an additional 360,729 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of The Carlyle Group by 182.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 387,332 shares of the financial services provider’s stock worth $15,551,000 after buying an additional 250,021 shares in the last quarter. Institutional investors and hedge funds own 55.88% of the company’s stock.

The Carlyle Group Company Profile

The Carlyle Group Inc is an investment firm specializing in direct and fund of fund investments. Within direct investments, it specializes in management-led/ Leveraged buyouts, privatizations, divestitures, strategic minority equity investments, structured credit, global distressed and corporate opportunities, small and middle market, equity private placements, consolidations and buildups, senior debt, mezzanine and leveraged finance, and venture and growth capital financings, seed/startup, early venture, emerging growth, turnaround, mid venture, late venture, PIPES.