The Carlyle Group (NASDAQ:CG) had its price target increased by equities researchers at Citigroup from $38.00 to $43.50 in a report issued on Monday, The Fly reports. Citigroup’s price target would indicate a potential upside of 16.62% from the company’s current price.
A number of other research firms have also commented on CG. Zacks Investment Research upgraded The Carlyle Group from a “sell” rating to a “hold” rating in a research report on Tuesday, January 12th. Keefe, Bruyette & Woods upgraded The Carlyle Group from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a research report on Tuesday, January 19th. Deutsche Bank Aktiengesellschaft upped their price target on The Carlyle Group from $32.00 to $36.00 and gave the company a “hold” rating in a research report on Friday, February 5th. Credit Suisse Group upped their price target on The Carlyle Group from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, February 5th. Finally, Bank of America upgraded The Carlyle Group from an “underperform” rating to a “buy” rating and upped their price target for the company from $30.00 to $35.00 in a research report on Friday, November 20th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $32.77.
Shares of CG stock opened at $37.30 on Monday. The firm has a market capitalization of $13.18 billion, a P/E ratio of -61.15 and a beta of 1.38. The Carlyle Group has a twelve month low of $15.21 and a twelve month high of $37.61. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 2.98. The stock’s fifty day simple moving average is $32.83 and its 200 day simple moving average is $28.58.
The Carlyle Group (NASDAQ:CG) last issued its quarterly earnings data on Thursday, February 4th. The financial services provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.20. The business had revenue of $629.70 million for the quarter, compared to analyst estimates of $556.21 million. The Carlyle Group had a positive return on equity of 25.90% and a negative net margin of 5.38%. The Carlyle Group’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.08) EPS. As a group, equities research analysts expect that The Carlyle Group will post 1.84 EPS for the current fiscal year.
In related news, insider David M. Rubenstein sold 750,000 shares of the company’s stock in a transaction that occurred on Thursday, December 10th. The stock was sold at an average price of $29.05, for a total transaction of $21,787,500.00. Following the transaction, the insider now directly owns 42,249,644 shares of the company’s stock, valued at approximately $1,227,352,158.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder David M. Rubenstein sold 2,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 24th. The stock was sold at an average price of $27.30, for a total value of $54,600,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,934,361 shares of company stock worth $82,298,114.
Hedge funds have recently bought and sold shares of the stock. Prospera Financial Services Inc purchased a new stake in shares of The Carlyle Group in the third quarter worth approximately $30,000. Crescent Capital Consulting LLC purchased a new stake in shares of The Carlyle Group in the fourth quarter worth approximately $31,000. Strs Ohio purchased a new stake in shares of The Carlyle Group in the fourth quarter worth approximately $50,000. Banque Cantonale Vaudoise purchased a new stake in shares of The Carlyle Group in the third quarter worth approximately $57,000. Finally, Valeo Financial Advisors LLC raised its stake in shares of The Carlyle Group by 2,539.6% in the third quarter. Valeo Financial Advisors LLC now owns 2,534 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 2,438 shares during the last quarter. 33.08% of the stock is currently owned by institutional investors and hedge funds.
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.
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