Carlyle Group (NASDAQ:CG) Price Target Raised to $67.00

by · The Markets Daily

Carlyle Group (NASDAQ:CG – Get Free Report) had its price objective boosted by equities researchers at JPMorgan Chase & Co. from $66.00 to $67.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 15.26% from the company’s previous close.

A number of other brokerages have also recently commented on CG. Citigroup dropped their target price on Carlyle Group from $74.00 to $71.00 and set a “buy” rating for the company in a report on Monday, November 3rd. Wall Street Zen lowered shares of Carlyle Group from a “hold” rating to a “sell” rating in a research note on Sunday, January 11th. Keefe, Bruyette & Woods reduced their target price on shares of Carlyle Group from $66.00 to $64.00 and set a “market perform” rating on the stock in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Carlyle Group in a research note on Wednesday, January 21st. Finally, Morgan Stanley set a $71.00 price objective on shares of Carlyle Group in a research report on Tuesday, January 27th. Seven 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $68.08.

View Our Latest Analysis on Carlyle Group

Carlyle Group Price Performance

CG traded down $1.08 during trading hours on Tuesday, hitting $58.13. The company’s stock had a trading volume of 1,862,566 shares, compared to its average volume of 2,847,444. The business’s 50-day moving average price is $60.58 and its 200-day moving average price is $60.31. Carlyle Group has a 12 month low of $33.02 and a 12 month high of $69.85. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 1.78. The stock has a market cap of $20.95 billion, a price-to-earnings ratio of 32.46, a P/E/G ratio of 1.05 and a beta of 2.05.

Carlyle Group (NASDAQ:CG – Get Free Report) last announced its earnings results on Friday, February 6th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.03). The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Carlyle Group had a net margin of 16.91% and a return on equity of 23.46%. The firm’s quarterly revenue was up 84.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.92 earnings per share. Sell-side analysts expect that Carlyle Group will post 4.48 earnings per share for the current fiscal year.

Insider Activity

In related news, Director David M. Rubenstein sold 625,000 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $56.55, for a total value of $35,343,750.00. Following the transaction, the director owned 27,999,644 shares of the company’s stock, valued at $1,583,379,868.20. This represents a 2.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 26.30% of the company’s stock.

Hedge Funds Weigh In On Carlyle Group

Several institutional investors have recently made changes to their positions in CG. Norges Bank acquired a new stake in Carlyle Group in the fourth quarter valued at approximately $288,257,000. State Street Corp boosted its position in shares of Carlyle Group by 20.9% in the 3rd quarter. State Street Corp now owns 9,942,135 shares of the financial services provider’s stock worth $623,372,000 after purchasing an additional 1,720,483 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in Carlyle Group during the 3rd quarter worth $75,612,000. Vanguard Group Inc. raised its stake in Carlyle Group by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 26,368,246 shares of the financial services provider’s stock valued at $1,558,627,000 after buying an additional 934,237 shares during the last quarter. Finally, Algebris UK Ltd. purchased a new stake in shares of Carlyle Group during the fourth quarter worth about $50,459,000. Hedge funds and other institutional investors own 55.88% of the company’s stock.

Carlyle Group Company Profile

(Get Free Report)

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager that invests across a range of strategies including private equity, real assets (such as real estate and infrastructure), global credit, and investment solutions. Founded in 1987 and headquartered in Washington, DC, Carlyle raises and manages investment funds that acquire, operate and exit companies and assets on behalf of institutional and private investors. The firm is publicly traded on the Nasdaq exchange and operates as an asset manager and investment advisor rather than as an operating company.

Carlyle’s core activities include sourcing and executing private equity buyouts and growth investments, originating and managing credit and financing solutions, and acquiring and operating real asset portfolios.

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