BidaskClub Lowers The Carlyle Group (CG) to Strong Sell
BidaskClub downgraded shares of The Carlyle Group (NASDAQ:CG) from a sell rating to a strong sell rating in a research report released on Tuesday morning.
A number of other equities research analysts have also weighed in on CG. Canaccord Genuity restated a buy rating and set a $7.50 price objective on shares of The Carlyle Group in a research note on Wednesday, November 28th. ValuEngine upgraded The Carlyle Group from a strong sell rating to a sell rating in a research note on Friday, November 23rd. Deutsche Bank lowered their price objective on The Carlyle Group from $23.00 to $21.00 and set a hold rating for the company in a research note on Friday, November 16th. Morgan Stanley lowered The Carlyle Group from an overweight rating to an equal weight rating and set a $23.00 price objective for the company. in a research note on Wednesday, November 14th. Finally, Zacks Investment Research upgraded The Carlyle Group from a strong sell rating to a hold rating in a research note on Friday, November 2nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $26.05.
NASDAQ CG opened at $17.79 on Tuesday. The Carlyle Group has a twelve month low of $16.82 and a twelve month high of $25.90. The stock has a market cap of $1.89 billion, a P/E ratio of 5.13 and a beta of 1.62. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 2.35.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 20th. Shareholders of record on Tuesday, November 13th were paid a dividend of $0.42 per share. The ex-dividend date was Friday, November 9th. This represents a $1.68 annualized dividend and a yield of 9.44%. This is an increase from The Carlyle Group’s previous quarterly dividend of $0.22. The Carlyle Group’s payout ratio is presently 48.41%.
In other news, Director Janet Hill purchased 5,000 shares of the stock in a transaction dated Monday, November 5th. The shares were bought at an average cost of $20.19 per share, for a total transaction of $100,950.00. Following the transaction, the director now owns 41,680 shares in the company, valued at $841,519.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Hedge funds have recently modified their holdings of the company. Morgan Stanley grew its holdings in shares of The Carlyle Group by 8.2% in the 3rd quarter. Morgan Stanley now owns 8,131,576 shares of the financial services provider’s stock worth $183,368,000 after acquiring an additional 619,635 shares during the last quarter. Artemis Investment Management LLP grew its holdings in shares of The Carlyle Group by 11.4% during the third quarter. Artemis Investment Management LLP now owns 3,647,420 shares of the financial services provider’s stock valued at $82,338,000 after buying an additional 373,658 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of The Carlyle Group by 20.7% during the third quarter. Deutsche Bank AG now owns 1,830,175 shares of the financial services provider’s stock valued at $41,269,000 after buying an additional 314,019 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of The Carlyle Group by 18.1% during the third quarter. JPMorgan Chase & Co. now owns 1,802,418 shares of the financial services provider’s stock valued at $40,644,000 after buying an additional 275,990 shares in the last quarter. Finally, Algebris UK Ltd grew its holdings in shares of The Carlyle Group by 78.4% during the second quarter. Algebris UK Ltd now owns 1,133,997 shares of the financial services provider’s stock valued at $24,154,000 after buying an additional 498,397 shares in the last quarter. Institutional investors own 42.71% of the company’s stock.
About The Carlyle Group
The Carlyle Group L.P. 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.
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