The Carlyle Group (NASDAQ:CG) Stock Price Expected to Rise, Oppenheimer Analyst Says

The Carlyle Group (NASDAQ:CG) had its target price raised by stock analysts at Oppenheimer from $78.00 to $85.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Oppenheimer’s price target points to a potential upside of 62.62% from the stock’s previous close.

Several other brokerages also recently issued reports on CG. Barclays lifted their target price on The Carlyle Group from $50.00 to $57.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. TD Cowen upped their target price on shares of The Carlyle Group from $43.00 to $49.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. lifted their price target on shares of The Carlyle Group from $44.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Morgan Stanley raised their price objective on The Carlyle Group from $46.00 to $50.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Finally, Redburn Atlantic assumed 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. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $53.33.

The Carlyle Group Stock Performance

Shares of CG opened at $52.27 on Monday. The Carlyle Group has a 52 week low of $29.56 and a 52 week high of $54.52. The company has a quick ratio of 2.55, a current ratio of 2.32 and a debt-to-equity ratio of 1.38. The stock has a market cap of $18.63 billion, a price-to-earnings ratio of 180.24, a PEG ratio of 1.33 and a beta of 1.70. The business has a 50-day simple moving average of $46.16 and a two-hundred day simple moving average of $43.52.

The Carlyle Group (NASDAQ:CG) last posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.08. The Carlyle Group had a net margin of 2.21% and a return on equity of 24.91%. The business had revenue of $895.00 million during the quarter, compared to analyst estimates of $908.17 million. During the same period in the prior year, the business posted $0.87 earnings per share. The company’s revenue was up 15.2% on a year-over-year basis. On average, analysts expect that The Carlyle Group will post 3.72 EPS for the current year.

Insider Buying and Selling at The Carlyle Group

In related news, major shareholder Carlyle Group Inc. sold 924,466 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $2.14, for a total value of $1,978,357.24. Following the transaction, the insider now owns 3,643,231 shares of the company’s stock, valued at $7,796,514.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 1,676,014 shares of company stock valued at $3,687,196 in the last quarter. 27.20% of the stock is owned by insiders.

Institutional Investors Weigh In On The Carlyle Group

Hedge funds have recently made changes to their positions in the company. Capital International Investors purchased a new stake in The Carlyle Group in the first quarter worth about $142,511,000. Boston Partners bought a new position in shares of The Carlyle Group during the first quarter valued at approximately $109,122,000. Massachusetts Financial Services Co. MA raised its stake in The Carlyle Group by 17,468.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,715,748 shares of the financial services provider’s stock worth $68,887,000 after buying an additional 1,705,982 shares in the last quarter. Marshall Wace LLP purchased a new stake in The Carlyle Group during the second quarter worth $37,009,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of The Carlyle Group in the 1st quarter valued at $23,455,000. 55.88% of the stock is currently owned by hedge funds and other institutional investors.

About The Carlyle Group

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.