The Carlyle Group (NASDAQ:CG) Reaches New 12-Month High Following Analyst Upgrade


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The Carlyle Group Inc. (NASDAQ:CG)’s stock price reached a new 52-week high during mid-day trading on Thursday after Morgan Stanley raised their price target on the stock from $40.00 to $41.00. Morgan Stanley currently has an equal weight rating on the stock. The Carlyle Group traded as high as $40.36 and last traded at $40.06, with a volume of 4019 shares changing hands. The stock had previously closed at $39.71.

A number of other equities analysts have also recently commented on CG. TheStreet upgraded The Carlyle Group from a “d+” rating to a “c” rating in a report on Friday, February 5th. Keefe, Bruyette & Woods raised The Carlyle Group from a “market perform” rating to an “outperform” rating and set a $40.00 target price on the stock in a report on Tuesday, January 19th. Barclays lifted their price objective on shares of The Carlyle Group from $36.00 to $39.00 in a research report on Wednesday, February 24th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of The Carlyle Group from $37.00 to $39.00 and gave the company a “hold” rating in a research report on Wednesday, February 24th. Finally, Credit Suisse Group upgraded shares of The Carlyle Group from a “neutral” rating to an “outperform” rating and upped their price target for the company from $40.00 to $42.00 in a research note on Thursday, February 25th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $33.96.

In other news, CEO Kewsong Lee sold 123,532 shares of The Carlyle Group stock in a transaction dated Monday, February 1st. The shares were sold at an average price of $32.06, for a total value of $3,960,435.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Curtis L. Buser sold 33,215 shares of the business’s stock in a transaction that occurred on Tuesday, February 9th. The shares were sold at an average price of $36.60, for a total transaction of $1,215,669.00. Following the completion of the sale, the chief financial officer now directly owns 1,107,344 shares in the company, valued at approximately $40,528,790.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,408,085 shares of company stock valued at $121,498,912.

Several institutional investors and hedge funds have recently made changes to their positions in CG. Evolution Wealth Advisors LLC increased its holdings in shares of The Carlyle Group by 37.7% in the first quarter. Evolution Wealth Advisors LLC now owns 1,005 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 275 shares during the period. Personal Capital Advisors Corp increased its stake in The Carlyle Group by 3.0% in the 4th quarter. Personal Capital Advisors Corp now owns 10,300 shares of the financial services provider’s stock worth $324,000 after acquiring an additional 300 shares during the last quarter. Nissay Asset Management Corp Japan ADV raised its holdings in shares of The Carlyle Group by 2.3% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 17,133 shares of the financial services provider’s stock valued at $539,000 after acquiring an additional 390 shares in the last quarter. Asahi Life Asset Management CO. LTD. grew its holdings in shares of The Carlyle Group by 3.5% during the fourth quarter. Asahi Life Asset Management CO. LTD. now owns 12,770 shares of the financial services provider’s stock worth $401,000 after purchasing an additional 430 shares in the last quarter. Finally, San Francisco Sentry Investment Group CA increased its position in shares of The Carlyle Group by 8.5% in the fourth quarter. San Francisco Sentry Investment Group CA now owns 6,990 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 550 shares during the last quarter. Hedge funds and other institutional investors own 33.08% of the company’s stock.

The stock’s 50 day simple moving average is $37.11 and its 200 day simple moving average is $32.30. The firm has a market cap of $14.26 billion, a PE ratio of -65.10 and a beta of 1.38. The company has a debt-to-equity ratio of 2.98, a quick ratio of 2.37 and a current ratio of 2.37.

The Carlyle Group (NASDAQ:CG) last issued its quarterly earnings results on Thursday, February 4th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.20. The firm had revenue of $629.70 million during the quarter, compared to analyst estimates of $556.21 million. The Carlyle Group had a positive return on equity of 25.90% and a negative net margin of 5.38%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.08) earnings per share. As a group, analysts anticipate that The Carlyle Group Inc. will post 1.84 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 23rd. Investors of record on Tuesday, February 16th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend was Friday, February 12th. The Carlyle Group’s payout ratio is presently 58.82%.

About The Carlyle Group (NASDAQ:CG)

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.

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