The Carlyle Group Inc. (NASDAQ:CG) – Analysts at Oppenheimer issued their Q3 2021 earnings estimates for The Carlyle Group in a research note issued on Tuesday, January 12th. Oppenheimer analyst C. Kotowski anticipates that the financial services provider will post earnings per share of $0.74 for the quarter.
Several other research analysts have also recently issued reports on the company. Morgan Stanley increased their price objective on The Carlyle Group from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Monday, November 2nd. Citigroup raised shares of The Carlyle Group from a “neutral” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Monday, October 12th. Zacks Investment Research raised shares of The Carlyle Group from a “sell” rating to a “hold” rating in a research report on Tuesday. Bank of America raised shares of The Carlyle Group from an “underperform” rating to a “buy” rating and upped their target price for the stock from $30.00 to $35.00 in a research note on Friday, November 20th. Finally, BidaskClub raised The Carlyle Group from a “hold” rating to a “buy” rating in a research note on Friday, December 18th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $29.31.
The Carlyle Group (NASDAQ:CG) last announced its quarterly earnings results on Thursday, October 29th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.04. The Carlyle Group had a negative net margin of 5.38% and a positive return on equity of 25.90%. The firm had revenue of $496.50 million for the quarter, compared to analyst estimates of $489.84 million. During the same quarter in the previous year, the firm posted $0.41 EPS. The business’s revenue for the quarter was down 5.9% on a year-over-year basis.
Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. bought a new stake in The Carlyle Group during the second quarter worth approximately $404,666,000. Morgan Stanley increased its stake in The Carlyle Group by 20.8% in the 3rd quarter. Morgan Stanley now owns 9,974,601 shares of the financial services provider’s stock worth $246,072,000 after purchasing an additional 1,716,749 shares in the last quarter. Alkeon Capital Management LLC raised its holdings in The Carlyle Group by 44.8% during the 3rd quarter. Alkeon Capital Management LLC now owns 5,444,025 shares of the financial services provider’s stock worth $134,304,000 after buying an additional 1,685,000 shares during the period. State Street Corp lifted its stake in The Carlyle Group by 4.0% during the third quarter. State Street Corp now owns 2,421,447 shares of the financial services provider’s stock valued at $59,737,000 after buying an additional 93,289 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its holdings in shares of The Carlyle Group by 17.1% in the second quarter. Neuberger Berman Group LLC now owns 2,078,751 shares of the financial services provider’s stock worth $57,997,000 after buying an additional 302,908 shares during the period. Hedge funds and other institutional investors own 33.08% of the company’s stock.
In related news, insider David M. Rubenstein sold 750,000 shares of the business’s stock in a transaction dated Thursday, December 10th. The shares were sold at an average price of $29.05, for a total value of $21,787,500.00. Following the completion of the transaction, the insider now owns 42,249,644 shares of the company’s stock, valued at approximately $1,227,352,158.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder David M. Rubenstein sold 2,000,000 shares of the business’s stock in a transaction dated Tuesday, November 24th. The shares were sold at an average price of $27.30, for a total transaction of $54,600,000.00. The disclosure for this sale can be found here.
The Carlyle Group Company Profile
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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