Barclays Boosts The Carlyle Group (NASDAQ:CG) Price Target to $50.00

by · The Cerbat Gem

The Carlyle Group (NASDAQ:CG – Free Report) had its price target hoisted by Barclays from $46.00 to $50.00 in a report released on Monday, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Several other equities analysts have also commented on CG. Redburn Atlantic initiated coverage on shares of The Carlyle Group in a research note on Tuesday, August 27th. They issued a buy rating and a $55.00 price target on the stock. Wells Fargo & Company assumed coverage on shares of The Carlyle Group in a research report on Thursday, September 12th. They issued an equal weight rating and a $42.00 price target for the company. Keefe, Bruyette & Woods dropped their price objective on The Carlyle Group from $48.00 to $46.00 and set a market perform rating on the stock in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft decreased their target price on The Carlyle Group from $55.00 to $53.00 and set a buy rating for the company in a research report on Thursday, August 15th. Finally, UBS Group reduced their price objective on The Carlyle Group from $45.00 to $44.00 and set a neutral rating for the company in a research note on Wednesday, July 10th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, The Carlyle Group has an average rating of Hold and an average price target of $47.67.

Read Our Latest Research Report on CG

The Carlyle Group Price Performance

The Carlyle Group stock opened at $46.63 on Monday. The company has a 50-day moving average price of $41.39 and a 200 day moving average price of $42.81. The Carlyle Group has a 12-month low of $27.13 and a 12-month high of $50.92. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 1.75. The stock has a market cap of $16.78 billion, a P/E ratio of -26.05, a PEG ratio of 1.30 and a beta of 1.73.

The Carlyle Group (NASDAQ:CG – Get Free Report) last issued its quarterly earnings data on Monday, August 5th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.05). The Carlyle Group had a positive return on equity of 24.30% and a negative net margin of 11.67%. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $808.73 million. During the same quarter in the previous year, the company posted $0.88 earnings per share. The company’s revenue was up 131.5% on a year-over-year basis. Sell-side analysts anticipate that The Carlyle Group will post 3.76 earnings per share for the current year.

The Carlyle Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were issued a dividend of $0.35 per share. The ex-dividend date was Friday, August 16th. This represents a $1.40 annualized dividend and a yield of 3.00%. The Carlyle Group’s dividend payout ratio is currently -78.21%.

Insiders Place Their Bets

In other The Carlyle Group news, major shareholder Carlyle Group Inc. sold 169,467 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $42.10, for a total value of $7,134,560.70. Following the completion of the transaction, the insider now owns 8,724,346 shares in the company, valued at approximately $367,294,966.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 1,562,041 shares of company stock worth $54,624,756. Company insiders own 27.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Tobam boosted its stake in shares of The Carlyle Group by 32.8% in the third quarter. Tobam now owns 890 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 220 shares during the period. Daymark Wealth Partners LLC acquired a new stake in The Carlyle Group in the 3rd quarter valued at approximately $212,000. Herbst Group LLC raised its stake in The Carlyle Group by 17.5% during the 3rd quarter. Herbst Group LLC now owns 39,525 shares of the financial services provider’s stock valued at $1,702,000 after acquiring an additional 5,900 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of The Carlyle Group by 10.4% in the third quarter. GAMMA Investing LLC now owns 4,954 shares of the financial services provider’s stock worth $213,000 after purchasing an additional 466 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in shares of The Carlyle Group by 67.9% during the third quarter. Handelsbanken Fonder AB now owns 62,800 shares of the financial services provider’s stock valued at $2,704,000 after purchasing an additional 25,400 shares during the period. 55.88% of the stock is currently owned by hedge funds and other institutional investors.

About The Carlyle Group

(Get Free Report)

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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