Barclays Forecasts Strong Price Appreciation for The Carlyle Group (NASDAQ:CG) Stock

The Carlyle Group (NASDAQ:CG) had its price target boosted by equities researchers at Barclays from $59.00 to $60.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective would indicate a potential upside of 19.69% from the company’s current price.

A number of other brokerages have also recently commented on CG. Wells Fargo & Company boosted their price target on The Carlyle Group from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Wolfe Research upgraded The Carlyle Group from a “peer perform” rating to an “outperform” rating and set a $60.00 target price on the stock in a research note on Friday, January 3rd. UBS Group increased their target price on The Carlyle Group from $43.00 to $54.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Keefe, Bruyette & Woods increased their target price on The Carlyle Group from $51.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. raised their price target on The Carlyle Group from $44.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $54.44.

The Carlyle Group Stock Performance

Shares of NASDAQ CG traded down $0.19 during mid-day trading on Monday, hitting $50.13. The company had a trading volume of 151,303 shares, compared to its average volume of 1,756,664. The company has a market capitalization of $17.93 billion, a price-to-earnings ratio of 172.86, a P/E/G ratio of 1.45 and a beta of 1.69. The Carlyle Group has a 1 year low of $36.65 and a 1 year high of $55.11. The stock’s 50-day moving average price is $51.85 and its 200-day moving average price is $46.52. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 1.38.

The Carlyle Group (NASDAQ:CG) last posted its earnings results on Wednesday, November 6th. The financial services provider reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.08. The Carlyle Group had a return on equity of 24.91% and a net margin of 2.21%. The firm had revenue of $895.00 million for the quarter, compared to the consensus estimate of $908.17 million. During the same quarter in the prior year, the business earned $0.87 EPS. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. On average, sell-side analysts forecast that The Carlyle Group will post 3.77 earnings per share for the current year.

Insider Transactions at The Carlyle Group

In other news, major shareholder Carlyle Group Inc. sold 275,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $2.20, for a total transaction of $605,000.00. Following the completion of the transaction, the insider now directly owns 2,405,461 shares of the company’s stock, valued at $5,292,014.20. This represents a 10.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Daniel A. D’aniello sold 495,542 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $51.53, for a total value of $25,535,279.26. Following the sale, the director now owns 32,504,102 shares of the company’s stock, valued at $1,674,936,376.06. The trade was a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 27.20% of the company’s stock.

Hedge Funds Weigh In On The Carlyle Group

Hedge funds have recently bought and sold shares of the company. Westbourne Investment Advisors Inc. raised its position in The Carlyle Group by 3.6% in the 3rd quarter. Westbourne Investment Advisors Inc. now owns 5,700 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 200 shares in the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of The Carlyle Group by 0.5% in the 3rd quarter. Bleakley Financial Group LLC now owns 41,742 shares of the financial services provider’s stock valued at $1,797,000 after buying an additional 208 shares during the period. Tobam raised its holdings in The Carlyle Group by 32.8% during the third quarter. Tobam now owns 890 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 220 shares during the last quarter. Western Pacific Wealth Management LP grew its position in The Carlyle Group by 10.6% during the third quarter. Western Pacific Wealth Management LP now owns 3,284 shares of the financial services provider’s stock valued at $141,000 after acquiring an additional 314 shares during the period. Finally, Mercer Global Advisors Inc. ADV boosted its position in shares of The Carlyle Group by 0.5% in the second quarter. Mercer Global Advisors Inc. ADV now owns 61,684 shares of the financial services provider’s stock worth $2,484,000 after buying an additional 318 shares during the period. Institutional investors and hedge funds 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.