The Carlyle Group LP (CG) Rating Increased to Outperform at Credit Suisse Group AG
The Carlyle Group LP (NASDAQ:CG) was upgraded by research analysts at Credit Suisse Group AG from a “neutral” rating to an “outperform” rating in a note issued to investors on Thursday. The brokerage presently has a $23.00 target price on the financial services provider’s stock. Credit Suisse Group AG’s price objective would suggest a potential upside of 26.03% from the company’s previous close.
CG has been the topic of a number of other research reports. Jefferies Group LLC boosted their target price on shares of The Carlyle Group from $17.00 to $18.50 and gave the stock a “hold” rating in a research report on Wednesday. Keefe, Bruyette & Woods raised shares of The Carlyle Group from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $17.50 to $20.00 in a research report on Thursday, May 4th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $19.07.
The Carlyle Group (NASDAQ:CG) opened at 18.25 on Thursday. The stock has a market capitalization of $1.57 billion, a P/E ratio of 84.88 and a beta of 1.92. The stock has a 50 day moving average of $16.67 and a 200 day moving average of $16.20. The Carlyle Group has a 52 week low of $14.35 and a 52 week high of $18.65.
The Carlyle Group (NASDAQ:CG) last released its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.71. The Carlyle Group had a net margin of 0.28% and a return on equity of 14.73%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $530.61 million. During the same quarter last year, the firm posted $0.18 earnings per share. The company’s quarterly revenue was up 131.9% compared to the same quarter last year. On average, equities research analysts predict that The Carlyle Group will post $2.46 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, May 22nd. Investors of record on Monday, May 15th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Thursday, May 11th. The Carlyle Group’s dividend payout ratio (DPR) is currently -2,000.00%.
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In other The Carlyle Group news, insider Pamela L. Bentley sold 9,928 shares of The Carlyle Group stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $17.40, for a total transaction of $172,747.20. Following the sale, the insider now owns 161,702 shares in the company, valued at $2,813,614.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of large investors have recently bought and sold shares of the company. SOL Capital Management CO increased its stake in The Carlyle Group by 0.6% in the third quarter. SOL Capital Management CO now owns 242,450 shares of the financial services provider’s stock worth $3,775,000 after buying an additional 1,400 shares in the last quarter. Vantage Investment Partners LLC increased its stake in The Carlyle Group by 16.8% in the third quarter. Vantage Investment Partners LLC now owns 600,407 shares of the financial services provider’s stock worth $9,348,000 after buying an additional 86,207 shares in the last quarter. Groesbeck Investment Management Corp NJ acquired a new stake in The Carlyle Group during the third quarter worth $2,624,000. Morgan Stanley increased its stake in The Carlyle Group by 15.1% in the third quarter. Morgan Stanley now owns 4,148,364 shares of the financial services provider’s stock worth $64,589,000 after buying an additional 545,428 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in The Carlyle Group by 4.7% in the third quarter. Hsbc Holdings PLC now owns 44,145 shares of the financial services provider’s stock worth $687,000 after buying an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 41.59% of the company’s stock.
About The Carlyle Group
The Carlyle Group L.P. is a diversified multi-product global alternative asset management firm. The Company operates in four segments: Corporate Private Equity (CPE), Real Assets, Global Market Strategies (GMS) and Investment Solutions. Corporate Private Equity advises its buyout and growth capital funds, which pursue various corporate investments of different sizes and growth potentials.
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