Carlyle Group (NASDAQ:CG) Hits New 12-Month High Following Analyst Upgrade

Carlyle Group Inc. (NASDAQ:CG) reached a new 52-week high during mid-day trading on Thursday after Barclays raised their price target on the stock from $49.00 to $64.00. Barclays currently has an overweight rating on the stock. Carlyle Group traded as high as $58.55 and last traded at $58.30, with a volume of 886279 shares. The stock had previously closed at $56.87.

CG has been the subject of several other research reports. Keefe, Bruyette & Woods lifted their price target on shares of Carlyle Group from $43.00 to $45.00 and gave the stock a “market perform” rating in a research report on Monday, May 12th. Evercore ISI lifted their price target on shares of Carlyle Group from $45.00 to $58.00 and gave the company an “in-line” rating in a research note on Thursday. Bank of America cut their price target on shares of Carlyle Group from $47.00 to $46.00 and set an “underperform” rating on the stock in a research note on Friday, April 4th. Wells Fargo & Company boosted their price objective on shares of Carlyle Group from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Friday, May 23rd. Finally, TD Cowen raised shares of Carlyle Group from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research report on Wednesday, May 14th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $56.13.

Institutional Investors Weigh In On Carlyle Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank Pictet & Cie Europe AG bought a new stake in Carlyle Group in the fourth quarter worth $215,000. Jones Financial Companies Lllp increased its stake in shares of Carlyle Group by 2,469.0% during the fourth quarter. Jones Financial Companies Lllp now owns 2,569 shares of the financial services provider’s stock valued at $130,000 after buying an additional 2,469 shares during the period. Victory Capital Management Inc. boosted its position in Carlyle Group by 88.6% during the fourth quarter. Victory Capital Management Inc. now owns 75,420 shares of the financial services provider’s stock valued at $3,808,000 after purchasing an additional 35,437 shares in the last quarter. Atria Investments Inc boosted its position in Carlyle Group by 5.3% during the fourth quarter. Atria Investments Inc now owns 20,923 shares of the financial services provider’s stock valued at $1,056,000 after purchasing an additional 1,062 shares in the last quarter. Finally, M&T Bank Corp boosted its position in Carlyle Group by 17.9% during the fourth quarter. M&T Bank Corp now owns 6,103 shares of the financial services provider’s stock valued at $308,000 after purchasing an additional 928 shares in the last quarter. Hedge funds and other institutional investors own 55.88% of the company’s stock.

Carlyle Group Stock Performance

The company has a debt-to-equity ratio of 1.56, a current ratio of 2.36 and a quick ratio of 2.36. The firm has a market cap of $21.13 billion, a price-to-earnings ratio of 19.83, a P/E/G ratio of 1.21 and a beta of 1.86. The firm has a fifty day simple moving average of $47.41 and a two-hundred day simple moving average of $46.96.

Carlyle Group (NASDAQ:CG) last announced its quarterly earnings results on Friday, May 9th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.17. The company had revenue of $973.10 million during the quarter, compared to the consensus estimate of $972.27 million. Carlyle Group had a return on equity of 23.78% and a net margin of 19.00%. Carlyle Group’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 earnings per share. On average, analysts expect that Carlyle Group Inc. will post 4.48 EPS for the current year.

Carlyle Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Monday, May 19th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Monday, May 19th. Carlyle Group’s dividend payout ratio is presently 47.46%.

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.