The Carlyle Group (NASDAQ:CG) Reaches New 12-Month High – Still a Buy?

Shares of The Carlyle Group Inc. (NASDAQ:CG) hit a new 52-week high on Thursday . The stock traded as high as $56.84 and last traded at $56.62, with a volume of 1847527 shares changing hands. The stock had previously closed at $56.41.

Wall Street Analyst Weigh In

Several brokerages have commented on CG. JPMorgan Chase & Co. raised their price objective on The Carlyle Group from $44.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. StockNews.com lowered The Carlyle Group from a “hold” rating to a “sell” rating in a report on Sunday, December 8th. Evercore ISI raised their price objective on The Carlyle Group from $45.00 to $47.00 and gave the company an “in-line” rating in a report on Monday, October 14th. Oppenheimer raised their price objective on The Carlyle Group from $78.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Finally, TD Cowen raised their price objective on The Carlyle Group from $43.00 to $49.00 and gave the company a “hold” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $54.44.

The Carlyle Group Price Performance

The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 1.38. The company has a market cap of $20.33 billion, a PE ratio of 195.97, a P/E/G ratio of 0.99 and a beta of 1.69. The stock has a 50-day simple moving average of $52.49 and a 200 day simple moving average of $47.45.

The Carlyle Group (NASDAQ:CG) last posted its earnings results on Wednesday, November 6th. The financial services provider reported $0.95 EPS for the quarter, beating 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 company had revenue of $895.00 million for the quarter, compared to the consensus estimate of $908.17 million. During the same quarter in the previous year, the business earned $0.87 earnings per share. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. Equities analysts expect that The Carlyle Group Inc. will post 3.8 EPS for the current year.

Insider Activity at The Carlyle Group

In other The Carlyle Group news, Director Daniel A. D’aniello sold 495,542 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $51.53, for a total transaction of $25,535,279.26. Following the sale, the director now owns 32,504,102 shares in the company, valued at $1,674,936,376.06. This represents a 1.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 27.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Sei Investments Co. boosted its position in shares of The Carlyle Group by 27.0% in the 2nd quarter. Sei Investments Co. now owns 43,403 shares of the financial services provider’s stock valued at $1,741,000 after purchasing an additional 9,238 shares during the period. 1832 Asset Management L.P. boosted its position in shares of The Carlyle Group by 174.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 3,220 shares of the financial services provider’s stock valued at $129,000 after purchasing an additional 2,045 shares during the period. Public Sector Pension Investment Board boosted its position in shares of The Carlyle Group by 6.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 30,772 shares of the financial services provider’s stock valued at $1,235,000 after purchasing an additional 1,735 shares during the period. Bank of Montreal Can boosted its position in shares of The Carlyle Group by 0.7% in the 2nd quarter. Bank of Montreal Can now owns 245,091 shares of the financial services provider’s stock valued at $10,010,000 after purchasing an additional 1,750 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in The Carlyle Group by 74.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 44,984 shares of the financial services provider’s stock valued at $1,806,000 after acquiring an additional 19,160 shares during the last quarter. 55.88% of the stock is owned by institutional investors and hedge funds.

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.