Carlyle Group (NASDAQ:CG) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Carlyle Group (NASDAQ:CG – Free Report) from a sell rating to a hold rating in a research note released on Saturday,Wall Street Zen reports.

CG has been the topic of a number of other research reports. TD Cowen cut their target price on Carlyle Group from $54.00 to $42.00 and set a “hold” rating on the stock in a research note on Monday, October 12th. Evercore set a $42.00 price target on Carlyle Group in a research report on Friday. Weiss Ratings lowered Carlyle Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, November 2nd. Piper Sandler dropped their price target on Carlyle Group from $54.00 to $48.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. Finally, BMO Capital Markets cut their price objective on Carlyle Group from $56.00 to $46.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 27th. Eight analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $51.93.

Read Our Latest Stock Analysis on Carlyle Group

Carlyle Group Trading Up 6.6%

Shares of CG stock opened at $42.31 on Friday. Carlyle Group has a 52-week low of $35.41 and a 52-week high of $67.30. The company has a debt-to-equity ratio of 1.91, a quick ratio of 2.35 and a current ratio of 2.35. The company has a 50-day simple moving average of $40.51 and a two-hundred day simple moving average of $46.65. The company has a market capitalization of $15.08 billion, a price-to-earnings ratio of 45.01, a PEG ratio of 1.37 and a beta of 1.84.

Carlyle Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Monday, November 16th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Monday, November 16th. Carlyle Group’s payout ratio is presently 148.94%.

Insider Buying and Selling at Carlyle Group

In other news, Director David Rubenstein sold 400,000 shares of the stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $42.74, for a total transaction of $17,096,000.00. Following the completion of the transaction, the director directly owned 26,899,644 shares of the company’s stock, valued at $1,149,690,784.56. This represents a 1.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 25.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Carlyle Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Main Street Group LTD purchased a new position in shares of Carlyle Group during the 1st quarter valued at $27,000. Allworth Financial LP bought a new position in shares of Carlyle Group during the 2nd quarter worth $35,000. MassMutual Private Wealth & Trust FSB increased its holdings in Carlyle Group by 36.6% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 962 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 258 shares during the last quarter. Harbour Investments Inc. increased its holdings in Carlyle Group by 29.4% in the 3rd quarter. Harbour Investments Inc. now owns 1,052 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 239 shares during the last quarter. Finally, Compass Wealth Management LLC bought a new stake in Carlyle Group in the 3rd quarter valued at about $48,000. 55.88% of the stock is owned by institutional investors.

About Carlyle Group

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The Carlyle Group Inc is a global alternative asset manager that invests on behalf of institutional and individual clients. Its business includes private equity, credit and investment solutions, including portfolios of private equity funds and related investments.

Founded in Washington, DC, in 1987, Carlyle has grown into an international firm with investment activities and offices across North America, Europe and Asia, among other regions. Its strategies span a range of industries and markets, and it works with businesses at different stages of development.

Harvey Schwartz became Carlyle’s chief executive officer in 2023.

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