The Carlyle Group (NASDAQ:CG) Price Target Raised to $85.00 at Oppenheimer

The Carlyle Group (NASDAQ:CG) had its price objective upped by Oppenheimer from $78.00 to $85.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

A number of other brokerages have also recently commented on CG. Evercore ISI increased their price objective on shares of The Carlyle Group from $45.00 to $47.00 and gave the company an “in-line” rating in a research note on Monday, October 14th. Keefe, Bruyette & Woods increased their price objective on shares of The Carlyle Group from $51.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, November 8th. Morgan Stanley upped their target price on shares of The Carlyle Group from $46.00 to $50.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Barclays upped their target price on shares of The Carlyle Group from $50.00 to $57.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, Redburn Atlantic assumed coverage on shares of The Carlyle Group in a report on Tuesday, August 27th. They issued a “buy” rating and a $55.00 target price on the stock. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $53.33.

The Carlyle Group Stock Performance

NASDAQ:CG opened at $51.09 on Monday. 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 has a fifty-two week low of $31.21 and a fifty-two week high of $54.52. The stock has a market cap of $18.27 billion, a PE ratio of 176.17, a price-to-earnings-growth ratio of 1.38 and a beta of 1.70. The firm’s fifty day simple moving average is $46.68 and its 200-day simple moving average is $43.62.

The Carlyle Group (NASDAQ:CG) last issued 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 firm had revenue of $895.00 million for the quarter, compared to analysts’ expectations of $908.17 million. The Carlyle Group had a net margin of 2.21% and a return on equity of 24.91%. The firm’s revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.87 EPS. Analysts expect that The Carlyle Group will post 3.77 earnings per share for the current fiscal year.

The Carlyle Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Monday, November 18th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Monday, November 18th. The Carlyle Group’s payout ratio is 482.76%.

Insider Activity at The Carlyle Group

In related news, major shareholder Carlyle Group Inc. sold 133,643 shares of the business’s stock in a transaction dated 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. The trade was a 2.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel A. D’aniello sold 495,542 shares of The Carlyle Group 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 sale, the director now owns 32,504,102 shares of the company’s stock, valued at approximately $1,674,936,376.06. This trade represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,171,556 shares of company stock worth $29,222,475. 27.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On The Carlyle Group

Hedge funds have recently bought and sold shares of the company. National Bank of Canada FI boosted its stake in The Carlyle Group by 58.8% in the first quarter. National Bank of Canada FI now owns 404,036 shares of the financial services provider’s stock valued at $18,953,000 after acquiring an additional 149,612 shares during the period. Concurrent Investment Advisors LLC acquired a new position in The Carlyle Group in the first quarter valued at approximately $627,000. Capital Group Private Client Services Inc. acquired a new position in The Carlyle Group in the first quarter valued at approximately $3,021,000. Cetera Investment Advisers boosted its stake in The Carlyle Group by 292.1% in the first quarter. Cetera Investment Advisers now owns 33,560 shares of the financial services provider’s stock valued at $1,574,000 after acquiring an additional 25,002 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in The Carlyle Group by 182.1% in 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 acquiring an additional 250,021 shares during the period. 55.88% of the stock is currently owned by institutional investors and hedge funds.

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.