Morgan Stanley restated their overweight rating on shares of The Carlyle Group L.P. (NASDAQ:CG) in a research report report published on Monday, July 10th. They currently have a $21.00 target price on the financial services provider’s stock, up from their prior target price of $20.00.
Other research analysts have also issued reports about the company. BidaskClub raised The Carlyle Group L.P. from a buy rating to a strong-buy rating in a report on Thursday, June 22nd. Zacks Investment Research raised The Carlyle Group L.P. from a hold rating to a strong-buy rating and set a $22.00 target price on the stock in a report on Wednesday, July 5th. Credit Suisse Group reaffirmed a buy rating and set a $23.00 target price on shares of The Carlyle Group L.P. in a report on Thursday, June 15th. Keefe, Bruyette & Woods upgraded The Carlyle Group L.P. from a market perform rating to an outperform rating and lifted their price target for the company from $17.50 to $20.00 in a report on Thursday, May 4th. Finally, Jefferies Group LLC lifted their price target on The Carlyle Group L.P. from $17.00 to $18.50 and gave the company a hold rating in a report on Wednesday, May 10th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Buy and an average price target of $21.81.
The Carlyle Group L.P. (NASDAQ CG) traded down 4.81% during mid-day trading on Monday, hitting $20.80. 2,234,038 shares of the stock were exchanged. The Carlyle Group L.P. has a 52-week low of $14.35 and a 52-week high of $21.80. The stock’s 50 day moving average is $19.78 and its 200 day moving average is $17.55. The stock has a market cap of $1.85 billion, a PE ratio of 48.26 and a beta of 1.83.
The Carlyle Group L.P. (NASDAQ:CG) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.37. The company had revenue of $908.40 million for the quarter, compared to analysts’ expectations of $696.36 million. The Carlyle Group L.P. had a return on equity of 41.32% and a net margin of 4.13%. During the same period last year, the business posted $0.35 earnings per share. Analysts forecast that The Carlyle Group L.P. will post $2.77 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Monday, August 14th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, August 10th. This is a boost from The Carlyle Group L.P.’s previous quarterly dividend of $0.10. This represents a $1.68 dividend on an annualized basis and a dividend yield of 8.08%. The Carlyle Group L.P.’s payout ratio is currently 30.53%.
In other news, CFO Curtis L. Buser sold 20,968 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $21.25, for a total transaction of $445,570.00. Following the transaction, the chief financial officer now owns 354,610 shares of the company’s stock, valued at $7,535,462.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Pamela L. Bentley sold 17,760 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $21.25, for a total value of $377,400.00. Following the completion of the sale, the insider now owns 143,942 shares of the company’s stock, valued at approximately $3,058,767.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,013 shares of company stock worth $1,317,776.
Several large investors have recently made changes to their positions in CG. ING Groep NV purchased a new position in The Carlyle Group L.P. during the first quarter worth about $7,613,000. Coronation Fund Managers Ltd. boosted its position in shares of The Carlyle Group L.P. by 39.3% in the first quarter. Coronation Fund Managers Ltd. now owns 1,326,395 shares of the financial services provider’s stock valued at $21,156,000 after buying an additional 373,939 shares during the period. ALGEBRIS UK Ltd bought a new position in shares of The Carlyle Group L.P. during the second quarter valued at approximately $5,436,000. Robeco Institutional Asset Management B.V. bought a new position in shares of The Carlyle Group L.P. during the second quarter valued at approximately $4,938,000. Finally, LGT Capital Partners LTD. bought a new position in shares of The Carlyle Group L.P. during the first quarter valued at approximately $3,908,000. Institutional investors own 45.18% of the company’s stock.
About The Carlyle Group L.P.
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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