The Carlyle Group (NASDAQ:CG) Reaches New 1-Year High on Analyst Upgrade

The Carlyle Group Inc. (NASDAQ:CG)’s share price reached a new 52-week high on Tuesday after Zacks Investment Research upgraded the stock from a hold rating to a buy rating. Zacks Investment Research now has a $49.00 price target on the stock. The Carlyle Group traded as high as $43.70 and last traded at $42.46, with a volume of 21146 shares changing hands. The stock had previously closed at $43.38.

According to Zacks, “The Carlyle Group Inc. is an investment firm. The Company manages an investment vehicle segment which includes corporate private equity, real assets, global credit and investment solutions. The Carlyle Group Inc. is based in Washington, United States. “

Several other research analysts have also recently weighed in on the stock. Morgan Stanley increased their price target on shares of The Carlyle Group from $41.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday. Barclays raised their target price on shares of The Carlyle Group from $36.00 to $39.00 in a report on Wednesday, February 24th. Citigroup raised their target price on shares of The Carlyle Group from $43.50 to $49.50 in a report on Tuesday. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their target price on shares of The Carlyle Group from $43.50 to $49.50 in a report on Tuesday. Finally, Credit Suisse Group raised shares of The Carlyle Group from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $40.00 to $42.00 in a report on Thursday, February 25th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The Carlyle Group presently has a consensus rating of “Buy” and an average price target of $38.33.

In other The Carlyle Group news, CEO Kewsong Lee sold 140,701 shares of the firm’s stock in a transaction that occurred on Tuesday, February 9th. The shares were sold at an average price of $36.60, for a total value of $5,149,656.60. Following the sale, the chief executive officer now owns 2,959,597 shares in the company, valued at $108,321,250.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Christopher Finn sold 35,572 shares of the firm’s stock in a transaction that occurred on Tuesday, February 9th. The shares were sold at an average price of $36.60, for a total transaction of $1,301,935.20. Following the completion of the sale, the chief operating officer now owns 843,752 shares in the company, valued at approximately $30,881,323.20. The disclosure for this sale can be found here. Insiders have sold a total of 3,226,363 shares of company stock worth $115,703,069 in the last quarter.

A number of institutional investors have recently modified their holdings of the business. Commonwealth Equity Services LLC boosted its position in The Carlyle Group by 241.9% in the first quarter. Commonwealth Equity Services LLC now owns 73,775 shares of the financial services provider’s stock valued at $2,712,000 after buying an additional 52,194 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of The Carlyle Group by 1,273.6% during the first quarter. Victory Capital Management Inc. now owns 422,709 shares of the financial services provider’s stock worth $15,539,000 after purchasing an additional 391,935 shares during the period. Raymond James Trust N.A. lifted its holdings in shares of The Carlyle Group by 4.3% during the first quarter. Raymond James Trust N.A. now owns 10,207 shares of the financial services provider’s stock worth $375,000 after purchasing an additional 420 shares during the period. IFP Advisors Inc lifted its holdings in shares of The Carlyle Group by 0.6% during the first quarter. IFP Advisors Inc now owns 46,992 shares of the financial services provider’s stock worth $1,727,000 after purchasing an additional 302 shares during the period. Finally, Tranquility Partners LLC acquired a new position in shares of The Carlyle Group during the first quarter worth $515,000. Hedge funds and other institutional investors own 33.08% of the company’s stock.

The business’s fifty day moving average price is $38.74 and its 200 day moving average price is $33.30. The company has a market cap of $15.28 billion, a price-to-earnings ratio of -70.66 and a beta of 1.38. The company has a debt-to-equity ratio of 2.98, a current ratio of 2.37 and a quick ratio of 2.37.

The Carlyle Group (NASDAQ:CG) last announced its earnings results on Thursday, April 29th. The financial services provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. The Carlyle Group had a negative net margin of 5.38% and a positive return on equity of 25.90%. The business had revenue of $612.50 million during the quarter, compared to the consensus estimate of $595.12 million. During the same quarter last year, the firm earned $0.48 earnings per share. The Carlyle Group’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, equities research analysts anticipate that The Carlyle Group Inc. will post 1.84 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 19th. Investors of record on Tuesday, May 11th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Monday, May 10th. The Carlyle Group’s dividend payout ratio is presently 58.82%.

About The Carlyle Group (NASDAQ:CG)

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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