The Carlyle Group (NASDAQ:CG) Price Target Raised to $59.00

The Carlyle Group (NASDAQ:CG) had its price objective hoisted by Barclays from $57.00 to $59.00 in a research note released on Monday,Benzinga reports. Barclays currently has an overweight rating on the financial services provider’s stock.

Several other analysts also recently commented on CG. Redburn Atlantic assumed coverage on The Carlyle Group in a research note on Tuesday, August 27th. They set a “buy” rating and a $55.00 price objective on the stock. Wells Fargo & Company lifted their price objective on The Carlyle Group from $42.00 to $48.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods raised their target price on shares of The Carlyle Group from $51.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of The Carlyle Group from $55.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Finally, StockNews.com cut shares of The Carlyle Group from a “hold” rating to a “sell” rating in a research report on Sunday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $53.47.

The Carlyle Group Price Performance

CG opened at $54.81 on Monday. The Carlyle Group has a 52 week low of $36.65 and a 52 week high of $55.11. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.32 and a current ratio of 2.32. The firm has a market capitalization of $19.60 billion, a PE ratio of 189.00, a P/E/G ratio of 1.40 and a beta of 1.69. The company has a fifty day moving average price of $50.93 and a two-hundred day moving average price of $44.92.

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

The Carlyle Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were paid a $0.35 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.40 annualized dividend and a yield of 2.55%. The Carlyle Group’s dividend payout ratio (DPR) is currently 482.76%.

Insiders Place Their Bets

In other news, Director Daniel A. D’aniello sold 495,542 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 32,504,102 shares in the company, valued at $1,674,936,376.06. The trade was a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Carlyle Group Inc. sold 133,643 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $2.51, for a total value of $335,443.93. Following the transaction, the insider now owns 4,767,697 shares in the company, valued at approximately $11,966,919.47. This trade represents a 2.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,171,556 shares of company stock valued at $29,222,475 over the last 90 days. 27.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Cetera Investment Advisers grew its stake in The Carlyle Group by 292.1% during the first quarter. Cetera Investment Advisers now owns 33,560 shares of the financial services provider’s stock worth $1,574,000 after buying an additional 25,002 shares in the last quarter. Assenagon Asset Management S.A. raised its position in The Carlyle Group by 182.1% during the second quarter. Assenagon Asset Management S.A. now owns 387,332 shares of the financial services provider’s stock valued at $15,551,000 after purchasing an additional 250,021 shares in the last quarter. SMH Capital Advisors Inc. acquired a new stake in shares of The Carlyle Group in the 2nd quarter valued at $636,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of The Carlyle Group by 25.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 91,137 shares of the financial services provider’s stock valued at $3,659,000 after purchasing an additional 18,614 shares during the last quarter. Finally, Edgestream Partners L.P. lifted its position in shares of The Carlyle Group by 297.1% during the 2nd quarter. Edgestream Partners L.P. now owns 159,596 shares of the financial services provider’s stock worth $6,408,000 after buying an additional 119,402 shares during the last quarter. 55.88% of the stock is owned by institutional investors.

About The Carlyle Group

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.