Wells Fargo & Company Raises The Carlyle Group (NASDAQ:CG) Price Target to $48.00

The Carlyle Group (NASDAQ:CG) had its price objective lifted by Wells Fargo & Company from $42.00 to $48.00 in a report released on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

A number of other research firms also recently commented on CG. Barclays boosted their target price on The Carlyle Group from $46.00 to $50.00 and gave the stock an overweight rating in a research report on Monday, October 7th. UBS Group decreased their target price on The Carlyle Group from $45.00 to $44.00 and set a neutral rating on the stock in a research report on Wednesday, July 10th. JPMorgan Chase & Co. downgraded The Carlyle Group from an overweight rating to a neutral rating and decreased their target price for the stock from $46.00 to $44.00 in a research report on Tuesday, August 6th. Redburn Atlantic began coverage on The Carlyle Group in a research report on Tuesday, August 27th. They issued a buy rating and a $55.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on The Carlyle Group from $55.00 to $53.00 and set a buy rating on the stock in a research note on Thursday, August 15th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and an average price target of $48.33.

The Carlyle Group Price Performance

Shares of The Carlyle Group stock opened at $48.27 on Wednesday. The stock’s 50-day simple moving average is $41.46 and its 200-day simple moving average is $42.85. The Carlyle Group has a 52 week low of $27.13 and a 52 week high of $50.92. The company has a market capitalization of $17.20 billion, a price-to-earnings ratio of -43.10, a PEG ratio of 1.25 and a beta of 1.73. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 1.75.

The Carlyle Group (NASDAQ:CG) last announced its quarterly earnings data on Monday, August 5th. The financial services provider reported $0.78 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.05). The Carlyle Group had a negative net margin of 11.67% and a positive return on equity of 24.30%. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $808.73 million. During the same quarter in the previous year, the firm earned $0.88 earnings per share. The Carlyle Group’s revenue was up 131.5% on a year-over-year basis. As a group, analysts expect that The Carlyle Group will post 3.76 earnings per share for the current fiscal year.

The Carlyle Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were paid a dividend of $0.35 per share. The ex-dividend date was Friday, August 16th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.90%. The Carlyle Group’s dividend payout ratio is -125.00%.

Insider Activity

In related news, major shareholder Carlyle Group Inc. sold 169,467 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $42.10, for a total value of $7,134,560.70. Following the transaction, the insider now owns 8,724,346 shares of the company’s stock, valued at $367,294,966.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have sold 2,429,254 shares of company stock valued at $54,750,979. 27.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CG. Tobam bought a new position in The Carlyle Group in the second quarter worth approximately $27,000. Blue Trust Inc. lifted its holdings in The Carlyle Group by 506.3% during the second quarter. Blue Trust Inc. now owns 770 shares of the financial services provider’s stock worth $31,000 after buying an additional 643 shares during the period. Rothschild Investment LLC purchased a new stake in The Carlyle Group during the second quarter worth $50,000. GAMMA Investing LLC lifted its holdings in The Carlyle Group by 22.8% during the first quarter. GAMMA Investing LLC now owns 1,156 shares of the financial services provider’s stock worth $54,000 after buying an additional 215 shares during the period. Finally, 1832 Asset Management L.P. purchased a new stake in The Carlyle Group during the first quarter worth $55,000. Institutional investors own 55.88% of the company’s stock.

The 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.