The Carlyle Group L.P. (CG) Upgraded to Buy by Zacks Investment Research
The Carlyle Group L.P. (NASDAQ:CG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $27.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 13.45% from the company’s previous close.
According to Zacks, “The Carlyle Group is a global alternative asset manager. The Company invests across four segments: Corporate Private Equity, Real Assets, Global Market Strategies and Fund of Funds Solutions in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Its Corporate Private Equity segment advises the Company’s buyout and growth capital funds. The Real Assets segment advises the Company’s United States and internationally-focused real estate and infrastructure funds, energy and renewable resources funds. Its Global Market Strategies segment advises a group of funds that pursue investment opportunities across various types of credit, equities and alternative instruments and currencies, commodities and interest rate products and their derivatives. Its Fund of Funds Solutions segment advises a global private equity fund of funds program and related co-investment and secondary activities. The Carlyle Group is based in Washington, District of Columbia. “
A number of other brokerages have also recently issued reports on CG. Bank of America Corporation raised shares of The Carlyle Group L.P. from a “neutral” rating to a “buy” rating in a research note on Thursday, June 8th. Credit Suisse Group reiterated a “buy” rating and issued a $23.00 target price on shares of The Carlyle Group L.P. in a research report on Thursday, June 15th. BidaskClub raised shares of The Carlyle Group L.P. from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 22nd. Morgan Stanley reissued an “overweight” rating and issued a $21.00 price target (up from $20.00) on shares of The Carlyle Group L.P. in a research note on Monday, July 10th. Finally, Oppenheimer Holdings, Inc. upped their price target on shares of The Carlyle Group L.P. from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Friday, July 14th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $23.67.
Shares of The Carlyle Group L.P. (CG) traded down 1.45% during mid-day trading on Tuesday, hitting $23.80. The stock had a trading volume of 834,659 shares. The Carlyle Group L.P. has a 12 month low of $14.35 and a 12 month high of $24.70. The firm has a 50 day moving average price of $22.06 and a 200-day moving average price of $19.23. The stock has a market cap of $2.17 billion, a P/E ratio of 55.74 and a beta of 1.84.
The Carlyle Group L.P. (NASDAQ:CG) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $0.81 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.37. The Carlyle Group L.P. had a return on equity of 41.32% and a net margin of 4.13%. The business had revenue of $908.40 million for the quarter, compared to analysts’ expectations of $696.36 million. During the same quarter in the prior year, the firm earned $0.35 earnings per share. On average, equities research analysts forecast that The Carlyle Group L.P. will post $2.82 EPS for the current year.
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In other The Carlyle Group L.P. news, CFO Curtis L. Buser sold 20,968 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $21.25, for a total value of $445,570.00. Following the completion of the transaction, the chief financial officer now directly owns 354,610 shares in the company, valued at approximately $7,535,462.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Jeffrey W. Ferguson sold 16,692 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $21.25, for a total transaction of $354,705.00. Following the completion of the transaction, the general counsel now owns 161,956 shares of the company’s stock, valued at $3,441,565. The disclosure for this sale can be found here. Insiders sold 62,013 shares of company stock worth $1,317,776 over the last three months.
Institutional investors and hedge funds have recently made changes to their positions in the company. Perigon Wealth Management LLC grew its holdings in shares of The Carlyle Group L.P. by 4.5% during the 2nd quarter. Perigon Wealth Management LLC now owns 82,752 shares of the financial services provider’s stock worth $1,634,000 after acquiring an additional 3,533 shares during the period. Schafer Cullen Capital Management Inc. bought a new position in shares of The Carlyle Group L.P. in the 2nd quarter worth approximately $280,000. BW Gestao de Investimentos Ltda. raised its position in shares of The Carlyle Group L.P. by 544.9% in the 2nd quarter. BW Gestao de Investimentos Ltda. now owns 89,640 shares of the financial services provider’s stock worth $1,770,000 after acquiring an additional 75,741 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC raised its position in shares of The Carlyle Group L.P. by 1.1% in the 2nd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 143,795 shares of the financial services provider’s stock worth $2,840,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in shares of The Carlyle Group L.P. by 46.1% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 45,734 shares of the financial services provider’s stock valued at $903,000 after purchasing an additional 14,440 shares during the period. 40.65% of the stock is currently owned by hedge funds and other institutional investors.
About The Carlyle Group L.P.
The Carlyle Group L.P. is a diversified multi-product global alternative asset management firm. The Company operates in four segments: Corporate Private Equity (CPE), Real Assets, Global Market Strategies (GMS) and Investment Solutions. Corporate Private Equity advises its buyout and growth capital funds, which pursue various corporate investments of different sizes and growth potentials.
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