Carlyle Group (NASDAQ:CG) Stock Rating Raised to Strong-Buy at Piper Sandler

Piper Sandler upgraded shares of Carlyle Group (NASDAQ:CG) to a strong-buy rating in a report issued on Thursday morning,Zacks reports.

A number of other analysts also recently commented on the company. Morgan Stanley set a $57.00 target price on Carlyle Group in a research report on Tuesday, July 21st. Evercore set a $51.00 price objective on shares of Carlyle Group in a research report on Thursday, August 6th. Keefe, Bruyette & Woods raised their target price on shares of Carlyle Group from $47.00 to $50.00 and gave the company a “market perform” rating in a report on Thursday, August 6th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $52.00 price target on shares of Carlyle Group in a report on Monday, July 13th. Finally, Citizens Jmp lifted their price objective on Carlyle Group from $70.00 to $73.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $58.93.

Carlyle Group Trading Down 1.3%

Shares of CG opened at $39.42 on Thursday. Carlyle Group has a twelve month low of $38.76 and a twelve month high of $67.30. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 1.91. The firm has a market capitalization of $14.05 billion, a P/E ratio of 41.06, a PEG ratio of 1.26 and a beta of 1.84. The firm’s 50-day moving average is $46.03 and its two-hundred day moving average is $46.36.

Carlyle Group (NASDAQ:CG) last posted its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.16. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $923.50 million. Carlyle Group had a net margin of 10.08% and a return on equity of 22.52%. During the same period last year, the firm earned $0.87 EPS. The company’s revenue for the quarter was down 28.6% on a year-over-year basis. On average, research analysts predict that Carlyle Group will post 3.61 earnings per share for the current fiscal year.

Carlyle Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Monday, August 17th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.40 annualized dividend and a dividend yield of 3.6%. Carlyle Group’s dividend payout ratio is presently 145.83%.

Insiders Place Their Bets

In other Carlyle Group news, Director David Rubenstein sold 400,000 shares of the business’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $42.74, for a total value of $17,096,000.00. Following the completion of the transaction, the director directly owned 26,899,644 shares in the company, valued at approximately $1,149,690,784.56. The trade was a 1.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 25.40% of the company’s stock.

Hedge Funds Weigh In On Carlyle Group

Several large investors have recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. boosted its stake in Carlyle Group by 22.7% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,254 shares of the financial services provider’s stock worth $221,000 after buying an additional 971 shares during the last quarter. National Pension Service lifted its holdings in shares of Carlyle Group by 4.1% during the 2nd quarter. National Pension Service now owns 15,875 shares of the financial services provider’s stock worth $668,000 after acquiring an additional 627 shares during the period. GFG Capital LLC boosted its position in shares of Carlyle Group by 4.3% in the second quarter. GFG Capital LLC now owns 51,942 shares of the financial services provider’s stock worth $2,187,000 after acquiring an additional 2,131 shares during the last quarter. Squarepoint Ops LLC grew its holdings in Carlyle Group by 958.8% in the second quarter. Squarepoint Ops LLC now owns 495,608 shares of the financial services provider’s stock valued at $20,870,000 after purchasing an additional 448,801 shares during the period. Finally, Arizona State Retirement System raised its stake in Carlyle Group by 17.5% during the second quarter. Arizona State Retirement System now owns 75,075 shares of the financial services provider’s stock worth $3,161,000 after purchasing an additional 11,190 shares during the period. 55.88% of the stock is currently owned by hedge funds and other institutional investors.

About Carlyle Group

The Carlyle Group Inc (NASDAQ:CG) is a global investment firm that manages alternative assets for institutional investors, private wealth clients and other investors. The company invests across private equity, global credit and investment solutions, with strategies spanning corporate, real estate and infrastructure investments.

Carlyle’s investment activities include acquiring and supporting companies through its corporate private equity platform, providing loans and other financing through its credit business, and managing portfolios of private market investments through its investment solutions platform.