The Carlyle Group (NASDAQ:CG) Upgraded to “Hold” at Zacks Investment Research

The Carlyle Group (NASDAQ:CG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “The Carlyle Group Inc. is an investment firm. The Company manages an investment vehicle segment which includes corporate private equity, real assets, global credit and investment solutions. The Carlyle Group Inc. is based in Washington, United States. “

CG has been the topic of a number of other research reports. Bank of America upgraded shares of The Carlyle Group from an “underperform” rating to a “buy” rating and upped their price target for the stock from $30.00 to $35.00 in a research note on Friday, November 20th. Citigroup upgraded shares of The Carlyle Group from a “neutral” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Monday, October 12th. Morgan Stanley upped their price target on shares of The Carlyle Group from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Monday, November 2nd. BidaskClub upgraded shares of The Carlyle Group from a “hold” rating to a “buy” rating in a research note on Friday, December 18th. Finally, Credit Suisse Group upped their target price on shares of The Carlyle Group from $31.00 to $33.00 and gave the company a “neutral” rating in a research note on Tuesday, November 3rd. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $29.31.

Shares of The Carlyle Group stock opened at $33.16 on Tuesday. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 2.98. The company’s fifty day simple moving average is $30.52 and its two-hundred day simple moving average is $27.83. The company has a market cap of $11.71 billion, a P/E ratio of -54.36 and a beta of 1.38. The Carlyle Group has a 12-month low of $15.21 and a 12-month high of $34.98.

The Carlyle Group (NASDAQ:CG) last announced its earnings results on Thursday, October 29th. The financial services provider reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.04. The firm had revenue of $496.50 million for the quarter, compared to analysts’ expectations of $489.84 million. The Carlyle Group had a negative net margin of 5.38% and a positive return on equity of 25.90%. The company’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.41 EPS. Analysts predict that The Carlyle Group will post 1.81 EPS for the current fiscal year.

In related news, insider David M. Rubenstein sold 750,000 shares of the stock in a transaction that occurred on Thursday, December 10th. The shares were sold at an average price of $29.05, for a total value of $21,787,500.00. Following the completion of the sale, the insider now directly owns 42,249,644 shares of the company’s stock, valued at approximately $1,227,352,158.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder David M. Rubenstein sold 2,000,000 shares of the stock in a transaction that occurred on Tuesday, November 24th. The stock was sold at an average price of $27.30, for a total transaction of $54,600,000.00. The disclosure for this sale can be found here.

A number of institutional investors and hedge funds have recently made changes to their positions in CG. Prospera Financial Services Inc purchased a new stake in The Carlyle Group during the 3rd quarter valued at approximately $30,000. American International Group Inc. purchased a new stake in The Carlyle Group during the 2nd quarter valued at approximately $47,000. Banque Cantonale Vaudoise purchased a new stake in The Carlyle Group during the 3rd quarter valued at approximately $57,000. Valeo Financial Advisors LLC grew its holdings in The Carlyle Group by 2,539.6% during the 3rd quarter. Valeo Financial Advisors LLC now owns 2,534 shares of the financial services provider’s stock valued at $63,000 after buying an additional 2,438 shares in the last quarter. Finally, Glenmede Trust Co. NA grew its holdings in The Carlyle Group by 79.0% during the 2nd quarter. Glenmede Trust Co. NA now owns 3,758 shares of the financial services provider’s stock valued at $104,000 after buying an additional 1,658 shares in the last quarter. 33.08% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for The Carlyle Group (NASDAQ:CG)

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