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

The Carlyle Group (NASDAQ:CG) had its price objective boosted by Morgan Stanley from $46.00 to $50.00 in a report issued on Thursday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the financial services provider’s stock.

Several other research analysts also recently commented on CG. Barclays boosted their price objective on shares of The Carlyle Group from $46.00 to $50.00 and gave the company an overweight rating in a research report on Monday, October 7th. JMP Securities restated a market outperform rating and set a $60.00 price objective on shares of The Carlyle Group in a research report on Wednesday. Redburn Atlantic started coverage on The Carlyle Group in a research report on Tuesday, August 27th. They issued a buy rating and a $55.00 target price on the stock. TD Cowen increased their target price on shares of The Carlyle Group from $41.00 to $42.00 and gave the stock a hold rating in a report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of The Carlyle Group from $55.00 to $53.00 and set a buy rating on the stock in a report on Thursday, August 15th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of $48.33.

The Carlyle Group Trading Up 2.8 %

Shares of CG stock opened at $48.27 on Thursday. The stock has a 50 day simple moving average of $41.46 and a 200 day simple moving average of $42.83. The Carlyle Group has a 1 year low of $27.13 and a 1 year 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 $17.37 billion, a P/E ratio of -26.97, a price-to-earnings-growth ratio of 1.25 and a beta of 1.73.

The Carlyle Group (NASDAQ:CG) last posted its quarterly earnings results on Monday, August 5th. The financial services provider reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $808.73 million. The Carlyle Group had a negative net margin of 11.67% and a positive return on equity of 24.30%. The firm’s revenue for the quarter was up 131.5% compared to the same quarter last year. During the same period last year, the firm earned $0.88 EPS. On average, research analysts predict that The Carlyle Group will post 3.76 earnings per share for the current fiscal year.

The Carlyle Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date was Friday, August 16th. The Carlyle Group’s dividend payout ratio (DPR) is presently -78.21%.

Insider Activity

In other The Carlyle Group news, major shareholder Carlyle Group Inc. sold 69,637 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $34.81, for a total value of $2,424,063.97. Following the completion of the sale, the insider now owns 10,730,064 shares in the company, valued at approximately $373,513,527.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders sold 2,429,254 shares of company stock valued at $54,750,979. Insiders own 27.20% of the company’s stock.

Hedge Funds Weigh In On The Carlyle Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Capital International Investors bought a new position in shares of The Carlyle Group in the 1st quarter worth about $142,511,000. Boston Partners purchased a new position in shares of The Carlyle Group during the first quarter valued at approximately $109,122,000. Vanguard Group Inc. boosted its position in shares of The Carlyle Group by 7.6% in the 4th quarter. Vanguard Group Inc. now owns 24,876,188 shares of the financial services provider’s stock worth $1,012,212,000 after purchasing an additional 1,756,189 shares in the last quarter. Goldman Sachs Group Inc. increased its position in The Carlyle Group by 194.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,593,761 shares of the financial services provider’s stock valued at $105,540,000 after buying an additional 1,712,133 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in The Carlyle Group by 17,468.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,715,748 shares of the financial services provider’s stock valued at $68,887,000 after buying an additional 1,705,982 shares during the last quarter. Hedge funds and other institutional investors own 55.88% of the company’s stock.

About The Carlyle Group

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.