Carlyle Group (NASDAQ:CG) Shares Gap Up – What’s Next?

Shares of Carlyle Group Inc. (NASDAQ:CG) gapped up prior to trading on Friday . The stock had previously closed at $55.41, but opened at $61.48. Carlyle Group shares last traded at $59.0310, with a volume of 363,701 shares.

Wall Street Analyst Weigh In

A number of research firms recently commented on CG. Keefe, Bruyette & Woods dropped their price objective on Carlyle Group from $66.00 to $64.00 and set a “market perform” rating on the stock in a report on Monday, November 3rd. Wolfe Research reissued an “outperform” rating on shares of Carlyle Group in a research report on Wednesday, January 7th. Citigroup reduced their price target on Carlyle Group from $74.00 to $71.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. UBS Group increased their price objective on Carlyle Group from $74.00 to $81.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Finally, TD Cowen restated a “buy” rating on shares of Carlyle Group in a report on Wednesday, January 14th. Seven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $67.77.

Carlyle Group Trading Up 5.4%

The company has a market capitalization of $21.05 billion, a P/E ratio of 32.70, a P/E/G ratio of 1.04 and a beta of 2.05. The company has a 50-day simple moving average of $60.39 and a 200 day simple moving average of $60.34. The company has a debt-to-equity ratio of 1.78, a quick ratio of 2.49 and a current ratio of 2.49.

Carlyle Group (NASDAQ:CG) last posted its quarterly earnings data on Friday, February 6th. The financial services provider reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.03). The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.09 billion. Carlyle Group had a net margin of 16.91% and a return on equity of 23.46%. The firm’s revenue was up 84.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.92 earnings per share. Sell-side analysts expect that Carlyle Group Inc. will post 4.48 earnings per share for the current year.

Insider Activity at Carlyle Group

In related news, Director David M. Rubenstein sold 625,000 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $56.55, for a total value of $35,343,750.00. Following the completion of the sale, the director owned 27,999,644 shares in the company, valued at approximately $1,583,379,868.20. This trade represents a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 26.30% of the company’s stock.

Institutional Trading of Carlyle Group

A number of hedge funds have recently modified their holdings of the company. Generali Asset Management SPA SGR acquired a new stake in shares of Carlyle Group in the third quarter valued at approximately $1,913,000. New York State Common Retirement Fund increased its stake in shares of Carlyle Group by 16.3% in the 3rd quarter. New York State Common Retirement Fund now owns 207,395 shares of the financial services provider’s stock valued at $13,004,000 after buying an additional 29,000 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Carlyle Group during the second quarter worth $236,000. Galvin Gaustad & Stein LLC lifted its stake in shares of Carlyle Group by 54.4% during the third quarter. Galvin Gaustad & Stein LLC now owns 233,054 shares of the financial services provider’s stock valued at $14,612,000 after acquiring an additional 82,094 shares during the period. Finally, FFG Partners LLC acquired a new stake in Carlyle Group in the third quarter worth about $1,713,000. Institutional investors own 55.88% of the company’s stock.

About Carlyle Group

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.