Evercore ISI Forecasts Strong Price Appreciation for Carlyle Group (NASDAQ:CG) Stock

Carlyle Group (NASDAQ:CG) had its price target lifted by equities researchers at Evercore ISI from $57.00 to $62.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “in-line” rating on the financial services provider’s stock. Evercore ISI’s target price suggests a potential downside of 1.30% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of Carlyle Group from a “hold” rating to a “sell” rating in a report on Sunday, January 11th. Keefe, Bruyette & Woods reduced their price objective on Carlyle Group from $66.00 to $64.00 and set a “market perform” rating for the company in a research note on Monday, November 3rd. Wolfe Research restated an “outperform” rating on shares of Carlyle Group in a report on Wednesday, January 7th. BMO Capital Markets initiated coverage on Carlyle Group in a research report on Friday, October 3rd. They issued an “outperform” rating and a $74.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their price target on shares of Carlyle Group from $68.00 to $66.00 and set a “neutral” rating on the stock in a report on Monday, November 3rd. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Carlyle Group currently has an average rating of “Hold” and a consensus target price of $67.46.

Carlyle Group Stock Performance

Shares of CG traded up $0.40 during trading hours on Thursday, hitting $62.82. The stock had a trading volume of 432,483 shares, compared to its average volume of 1,986,095. The company has a debt-to-equity ratio of 1.78, a current ratio of 2.49 and a quick ratio of 2.49. The stock has a fifty day moving average price of $58.78 and a 200 day moving average price of $60.23. The firm has a market capitalization of $22.64 billion, a PE ratio of 35.09, a PEG ratio of 1.09 and a beta of 2.04. Carlyle Group has a 12 month low of $33.02 and a 12 month high of $69.85.

Carlyle Group (NASDAQ:CG) last announced its quarterly earnings data on Friday, November 7th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.98. Carlyle Group had a net margin of 16.91% and a return on equity of 23.46%. The business had revenue of $782.50 million during the quarter, compared to analyst estimates of $848.51 million. During the same period last year, the firm posted $0.95 EPS. Analysts anticipate that Carlyle Group will post 4.48 EPS for the current year.

Insider Activity at Carlyle Group

In other Carlyle Group news, Director David M. Rubenstein sold 625,000 shares of Carlyle Group stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $56.55, for a total value of $35,343,750.00. Following the completion of the transaction, the director directly owned 27,999,644 shares of the company’s stock, valued at $1,583,379,868.20. The trade was a 2.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 26.30% of the company’s stock.

Hedge Funds Weigh In On Carlyle Group

Institutional investors have recently modified their holdings of the company. DMC Group LLC lifted its stake in shares of Carlyle Group by 2.5% during the 4th quarter. DMC Group LLC now owns 6,762 shares of the financial services provider’s stock valued at $400,000 after buying an additional 168 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Carlyle Group by 18.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,150 shares of the financial services provider’s stock worth $59,000 after buying an additional 177 shares during the period. Larson Financial Group LLC raised its position in shares of Carlyle Group by 6.0% in the 3rd quarter. Larson Financial Group LLC now owns 3,483 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 196 shares during the last quarter. Verdence Capital Advisors LLC increased its holdings in shares of Carlyle Group by 1.8% in the 2nd quarter. Verdence Capital Advisors LLC now owns 11,673 shares of the financial services provider’s stock worth $600,000 after purchasing an additional 212 shares in the last quarter. Finally, Moors & Cabot Inc. grew its position in Carlyle Group by 2.1% in the 2nd quarter. Moors & Cabot Inc. now owns 11,029 shares of the financial services provider’s stock worth $567,000 after purchasing an additional 225 shares during the period. 55.88% of the stock is owned by institutional investors and hedge funds.

Carlyle Group Company Profile

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager that invests across a range of strategies including private equity, real assets (such as real estate and infrastructure), global credit, and investment solutions. Founded in 1987 and headquartered in Washington, DC, Carlyle raises and manages investment funds that acquire, operate and exit companies and assets on behalf of institutional and private investors. The firm is publicly traded on the Nasdaq exchange and operates as an asset manager and investment advisor rather than as an operating company.

Carlyle’s core activities include sourcing and executing private equity buyouts and growth investments, originating and managing credit and financing solutions, and acquiring and operating real asset portfolios.