Carlyle Group (NASDAQ:CG) Price Target Raised to $67.00

Carlyle Group (NASDAQ:CG) had its price objective upped by Morgan Stanley from $65.00 to $67.00 in a research note released on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

CG has been the subject of a number of other reports. BMO Capital Markets began coverage on Carlyle Group in a research report on Friday, October 3rd. They set an “outperform” rating and a $74.00 target price for the company. Barclays reiterated an “overweight” rating and set a $74.00 target price (up from $66.00) on shares of Carlyle Group in a research report on Thursday, August 7th. Evercore ISI increased their target price on Carlyle Group from $45.00 to $58.00 and gave the company an “in-line” rating in a research report on Thursday, July 10th. Jefferies Financial Group increased their target price on Carlyle Group from $54.00 to $66.00 and gave the company a “hold” rating in a research report on Wednesday, August 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Carlyle Group in a research report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $64.69.

Carlyle Group Trading Down 0.9%

CG stock opened at $57.55 on Tuesday. Carlyle Group has a 1-year low of $33.02 and a 1-year high of $69.85. The company has a debt-to-equity ratio of 1.52, a current ratio of 2.24 and a quick ratio of 2.24. The company has a market capitalization of $20.82 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 1.23 and a beta of 2.00. The business has a 50 day simple moving average of $63.05 and a two-hundred day simple moving average of $53.78.

Insiders Place Their Bets

In other Carlyle Group news, General Counsel Jeffrey W. Ferguson sold 202,606 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $64.23, for a total value of $13,013,383.38. Following the completion of the sale, the general counsel owned 753,255 shares of the company’s stock, valued at approximately $48,381,568.65. This trade represents a 21.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 26.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CG. Norges Bank purchased a new position in shares of Carlyle Group in the second quarter worth about $150,122,000. Vanguard Group Inc. raised its stake in shares of Carlyle Group by 4.9% in the first quarter. Vanguard Group Inc. now owns 24,292,937 shares of the financial services provider’s stock worth $1,058,929,000 after purchasing an additional 1,131,514 shares during the last quarter. Alkeon Capital Management LLC raised its stake in shares of Carlyle Group by 13.4% in the second quarter. Alkeon Capital Management LLC now owns 5,941,316 shares of the financial services provider’s stock worth $305,384,000 after purchasing an additional 700,000 shares during the last quarter. Azora Capital LP purchased a new position in shares of Carlyle Group in the second quarter worth about $30,791,000. Finally, Citigroup Inc. raised its stake in shares of Carlyle Group by 484.4% in the first quarter. Citigroup Inc. now owns 623,440 shares of the financial services provider’s stock worth $27,176,000 after purchasing an additional 516,761 shares during the last quarter. 55.88% of the stock is currently owned by hedge funds and other institutional investors.

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.