The Carlyle Group (NASDAQ:CG) Upgraded to “Outperform” by Credit Suisse Group

Credit Suisse Group upgraded shares of The Carlyle Group (NASDAQ:CG) to an outperform rating in a research report sent to investors on Friday morning, Stock Target Advisor reports. Credit Suisse Group currently has $14.00 price objective on the financial services provider’s stock, up from their previous price objective of $11.50.

A number of other analysts have also weighed in on CG. Barclays started coverage on The Carlyle Group in a research note on Monday, August 5th. They issued an equal weight rating and a $25.00 target price on the stock. Raymond James reissued a buy rating and set a $10.00 price target on shares of The Carlyle Group in a research report on Monday, June 3rd. BidaskClub downgraded The Carlyle Group from a buy rating to a hold rating in a research report on Saturday, August 3rd. TheStreet raised The Carlyle Group from a c rating to a b rating in a research report on Thursday, May 9th. Finally, ValuEngine raised The Carlyle Group from a hold rating to a buy rating in a research report on Friday, May 3rd. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The Carlyle Group has a consensus rating of Hold and a consensus price target of $18.42.

CG stock opened at $21.71 on Friday. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 1.96. The business’s fifty day simple moving average is $23.38 and its two-hundred day simple moving average is $20.64. The Carlyle Group has a twelve month low of $15.09 and a twelve month high of $25.99. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 8.25 and a beta of 1.67.

The Carlyle Group (NASDAQ:CG) last released its earnings results on Wednesday, July 31st. The financial services provider reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.21. The Carlyle Group had a return on equity of 6.07% and a net margin of 12.74%. The business had revenue of $550.70 million for the quarter, compared to analyst estimates of $496.69 million. During the same quarter last year, the firm posted $0.69 earnings per share. The business’s revenue was up 19.0% compared to the same quarter last year. Research analysts expect that The Carlyle Group will post 1.65 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 19th. Stockholders of record on Monday, August 12th will be given a dividend of $0.43 per share. This is an increase from The Carlyle Group’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, August 9th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.92%. The Carlyle Group’s dividend payout ratio is presently 65.40%.

In related news, major shareholder Carlyle Group Management L.L.C sold 800,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $110.74, for a total transaction of $88,592,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Pamela L. Bentley sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $19.79, for a total value of $197,900.00. Following the sale, the insider now directly owns 146,962 shares in the company, valued at approximately $2,908,377.98. The disclosure for this sale can be found here. Insiders have sold a total of 994,829 shares of company stock worth $93,013,243 in the last three months.

A number of hedge funds have recently modified their holdings of CG. JPMorgan Chase & Co. boosted its position in The Carlyle Group by 390.1% during the second quarter. JPMorgan Chase & Co. now owns 4,290,208 shares of the financial services provider’s stock valued at $95,157,000 after purchasing an additional 3,414,772 shares in the last quarter. Bank of Montreal Can boosted its position in The Carlyle Group by 38.6% during the second quarter. Bank of Montreal Can now owns 2,288,126 shares of the financial services provider’s stock valued at $51,734,000 after purchasing an additional 637,026 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in The Carlyle Group during the second quarter valued at about $9,948,000. First Republic Investment Management Inc. boosted its position in The Carlyle Group by 321.3% during the first quarter. First Republic Investment Management Inc. now owns 325,299 shares of the financial services provider’s stock valued at $5,946,000 after purchasing an additional 248,091 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in The Carlyle Group by 4.9% during the second quarter. Bank of America Corp DE now owns 3,452,482 shares of the financial services provider’s stock valued at $78,060,000 after purchasing an additional 159,905 shares in the last quarter. 40.87% of the stock is currently owned by institutional investors.

The Carlyle Group Company Profile

The Carlyle Group L.P. 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.

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Analyst Recommendations for The Carlyle Group (NASDAQ:CG)

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