The Carlyle Group (NASDAQ:CG) Price Target Raised to $56.00

The Carlyle Group (NASDAQ:CG) had its price target lifted by Wells Fargo & Company from $54.00 to $56.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Several other research firms have also weighed in on CG. Evercore ISI upped their price target on The Carlyle Group from $45.00 to $47.00 and gave the company an “in-line” rating in a research report on Monday, October 14th. Keefe, Bruyette & Woods upped their price target on The Carlyle Group from $51.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft lowered their target price on The Carlyle Group from $55.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Redburn Atlantic began coverage on The Carlyle Group in a research note on Tuesday, August 27th. They issued a “buy” rating and a $55.00 target price on the stock. Finally, Morgan Stanley boosted their target price on The Carlyle Group from $46.00 to $50.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, The Carlyle Group currently has an average rating of “Hold” and an average target price of $54.00.

The Carlyle Group Stock Down 0.8 %

Shares of The Carlyle Group stock opened at $52.64 on Thursday. The stock’s fifty day moving average is $51.21 and its 200-day moving average is $45.05. The firm has a market capitalization of $18.83 billion, a PE ratio of 181.52, a price-to-earnings-growth ratio of 1.45 and a beta of 1.69. 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 12-month low of $36.65 and a 12-month high of $55.11.

The Carlyle Group (NASDAQ:CG) last posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.08. The firm had revenue of $895.00 million for the quarter, compared to analyst estimates of $908.17 million. The Carlyle Group had a return on equity of 24.91% and a net margin of 2.21%. The Carlyle Group’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.87 earnings per share. Equities analysts anticipate that The Carlyle Group will post 3.77 earnings per share for the current year.

The Carlyle Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were paid a dividend of $0.35 per share. The ex-dividend date was Monday, November 18th. This represents a $1.40 annualized dividend and a dividend yield of 2.66%. The Carlyle Group’s dividend payout ratio (DPR) is presently 482.76%.

Insider Transactions at The Carlyle Group

In related news, major shareholder Carlyle Group Inc. sold 924,466 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $2.14, for a total transaction of $1,978,357.24. Following the completion of the transaction, the insider now owns 3,643,231 shares of the company’s stock, valued at approximately $7,796,514.34. The trade was a 20.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel A. D’aniello sold 495,542 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $51.53, for a total value of $25,535,279.26. Following the transaction, the director now directly owns 32,504,102 shares of the company’s stock, valued at $1,674,936,376.06. This represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,171,556 shares of company stock worth $29,222,475. 27.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On The Carlyle Group

Large investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers raised its holdings in The Carlyle Group by 292.1% in the 1st 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 in the last quarter. Assenagon Asset Management S.A. raised its holdings in The Carlyle Group by 182.1% in the 2nd 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 in the last quarter. SMH Capital Advisors Inc. acquired a new position in The Carlyle Group in the 2nd quarter valued at approximately $636,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of The Carlyle Group by 25.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 91,137 shares of the financial services provider’s stock worth $3,659,000 after buying an additional 18,614 shares in the last quarter. Finally, Edgestream Partners L.P. raised its holdings in shares of The Carlyle Group by 297.1% in the 2nd quarter. Edgestream Partners L.P. now owns 159,596 shares of the financial services provider’s stock worth $6,408,000 after buying an additional 119,402 shares in the last quarter. Institutional investors and hedge funds own 55.88% of the company’s stock.

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.