The Carlyle Group (NASDAQ:CG) Reaches New 12-Month High on Analyst Upgrade

The Carlyle Group Inc. (NASDAQ:CG - Get Free Report)'s share price hit a new 52-week high on Thursday after Oppenheimer raised their price target on the stock from $64.00 to $78.00. Oppenheimer currently has an outperform rating on the stock. The Carlyle Group traded as high as $51.03 and last traded at $50.96, with a volume of 1048794 shares. The stock had previously closed at $49.42.

A number of other equities analysts have also recently weighed in on CG. TD Cowen lifted their price target on The Carlyle Group from $41.00 to $42.00 and gave the stock a "hold" rating in a research note on Tuesday, August 6th. JMP Securities reaffirmed a "market outperform" rating and issued a $60.00 price target on shares of The Carlyle Group in a research report on Wednesday, October 9th. Barclays upped their price target on shares of The Carlyle Group from $46.00 to $50.00 and gave the company an "overweight" rating in a report on Monday, October 7th. Wells Fargo & Company raised their price target on shares of The Carlyle Group from $42.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 9th. Finally, UBS Group reduced their price objective on The Carlyle Group from $45.00 to $44.00 and set a "neutral" rating for the company in a research report on Wednesday, July 10th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $50.27.

Insider Buying and Selling

In other news, major shareholder Carlyle Group Inc. sold 65,636 shares of the firm's stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $34.12, for a total value of $2,239,500.32. Following the completion of the transaction, the insider now owns 10,562,558 shares in the company, valued at $360,394,478.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 2,609,335 shares of company stock valued at $50,141,281. 27.20% of the stock is owned by company insiders.

Institutional Trading of The Carlyle Group

A number of hedge funds and other institutional investors have recently modified their holdings of CG. Teachers Retirement System of The State of Kentucky bought a new stake in shares of The Carlyle Group in the 4th quarter valued at $3,092,000. Vanguard Group Inc. raised its stake in shares of The Carlyle Group by 7.6% in the fourth 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 during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of The Carlyle Group by 12.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 29,192 shares of the financial services provider's stock valued at $1,188,000 after buying an additional 3,145 shares during the last quarter. GAMMA Investing LLC raised its position in The Carlyle Group by 22.8% in the 1st quarter. GAMMA Investing LLC now owns 1,156 shares of the financial services provider's stock valued at $54,000 after buying an additional 215 shares during the last quarter. Finally, Park Avenue Securities LLC lifted its stake in The Carlyle Group by 13.9% during the 1st quarter. Park Avenue Securities LLC now owns 7,452 shares of the financial services provider's stock valued at $350,000 after acquiring an additional 911 shares in the last quarter. Institutional investors own 55.88% of the company's stock.

The Carlyle Group Stock Performance

The company has a debt-to-equity ratio of 1.75, a quick ratio of 2.55 and a current ratio of 2.55. The company's 50 day moving average price is $42.02 and its 200-day moving average price is $42.87. The stock has a market cap of $18.48 billion, a P/E ratio of -28.55, a price-to-earnings-growth ratio of 1.25 and a beta of 1.73.

The Carlyle Group (NASDAQ:CG - Get Free Report) last issued its earnings results on Monday, August 5th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.83 by ($0.05). The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate 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 company's revenue was up 131.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.88 EPS. Equities analysts forecast that The Carlyle Group Inc. will post 3.76 EPS for the current fiscal year.

The Carlyle Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend was Friday, August 16th. The Carlyle Group's dividend payout ratio is currently -78.21%.

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.