Carlyle Group (NASDAQ:CG) Price Target Raised to $67.00

Carlyle Group (NASDAQ:CG) had its price target upped by JPMorgan Chase & Co. from $66.00 to $67.00 in a research note published on Tuesday,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Several other equities analysts have also recently issued reports on CG. UBS Group boosted their price objective on shares of Carlyle Group from $74.00 to $81.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Wall Street Zen lowered shares of Carlyle Group from a “hold” rating to a “sell” rating in a research note on Sunday, January 11th. Keefe, Bruyette & Woods lowered their price objective on Carlyle Group from $66.00 to $64.00 and set a “market perform” rating on the stock in a report on Monday, November 3rd. Barclays increased their target price on Carlyle Group from $65.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Evercore upped their price objective on Carlyle Group from $57.00 to $62.00 and gave the stock an “in-line” rating in a report on Thursday, January 22nd. Seven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Carlyle Group has an average rating of “Hold” and a consensus target price of $68.08.

Carlyle Group Stock Performance

NASDAQ CG opened at $54.45 on Tuesday. The firm has a market cap of $19.62 billion, a P/E ratio of 24.98, a P/E/G ratio of 1.04 and a beta of 2.05. Carlyle Group has a 52-week low of $33.02 and a 52-week high of $69.85. The business’s 50-day moving average price is $60.57 and its 200 day moving average price is $60.18. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 1.78.

Carlyle Group (NASDAQ:CG) last posted its quarterly earnings data on Friday, February 6th. The financial services provider reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.03). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.09 billion. Carlyle Group had a return on equity of 23.98% and a net margin of 16.92%.The firm’s revenue was up 84.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.92 earnings per share. On average, equities research analysts expect that Carlyle Group will post 4.48 earnings per share for the current year.

Carlyle Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 20th. Stockholders of record on Monday, February 16th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, February 13th. Carlyle Group’s payout ratio is 78.21%.

Insider Buying and Selling

In other Carlyle Group news, Director David M. Rubenstein sold 625,000 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $56.55, for a total transaction of $35,343,750.00. Following the completion of the transaction, the director directly owned 27,999,644 shares in the company, valued at approximately $1,583,379,868.20. This trade represents a 2.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 26.30% of the company’s stock.

Hedge Funds Weigh In On Carlyle Group

Institutional investors have recently modified their holdings of the company. Generali Asset Management SPA SGR bought a new stake in shares of Carlyle Group in the 3rd quarter worth about $1,913,000. New York State Common Retirement Fund increased its holdings in Carlyle Group by 16.3% in the third quarter. New York State Common Retirement Fund now owns 207,395 shares of the financial services provider’s stock valued at $13,004,000 after buying an additional 29,000 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Carlyle Group during the second quarter valued at approximately $236,000. Galvin Gaustad & Stein LLC grew its position in shares of Carlyle Group by 54.4% in the 3rd quarter. Galvin Gaustad & Stein LLC now owns 233,054 shares of the financial services provider’s stock worth $14,612,000 after acquiring an additional 82,094 shares in the last quarter. Finally, FFG Partners LLC acquired a new stake in shares of Carlyle Group during the 3rd quarter valued at approximately $1,713,000. Institutional investors and hedge funds own 55.88% of the company’s stock.

Carlyle Group Company Profile

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager that invests across a range of strategies including private equity, real assets (such as real estate and infrastructure), global credit, and investment solutions. Founded in 1987 and headquartered in Washington, DC, Carlyle raises and manages investment funds that acquire, operate and exit companies and assets on behalf of institutional and private investors. The firm is publicly traded on the Nasdaq exchange and operates as an asset manager and investment advisor rather than as an operating company.

Carlyle’s core activities include sourcing and executing private equity buyouts and growth investments, originating and managing credit and financing solutions, and acquiring and operating real asset portfolios.