Carlyle Group (NASDAQ:CG) Price Target Raised to $62.00

Carlyle Group (NASDAQ:CG) had its target price lifted by Evercore ISI from $57.00 to $62.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has an in-line rating on the financial services provider’s stock.

CG has been the subject of several other research reports. TD Cowen restated a “buy” rating on shares of Carlyle Group in a research note on Wednesday, January 14th. JPMorgan Chase & Co. lowered their price objective on shares of Carlyle Group from $68.00 to $66.00 and set a “neutral” rating on the stock in a research note on Monday, November 3rd. BMO Capital Markets began coverage on shares of Carlyle Group in a report on Friday, October 3rd. They issued an “outperform” rating and a $74.00 price target for the company. Wolfe Research restated an “outperform” rating on shares of Carlyle Group in a report on Wednesday, January 7th. Finally, Barclays increased their target price on shares of Carlyle Group from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. Seven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Carlyle Group has a consensus rating of “Hold” and an average target price of $67.46.

Carlyle Group Price Performance

Shares of Carlyle Group stock opened at $61.28 on Thursday. Carlyle Group has a 1-year low of $33.02 and a 1-year high of $69.85. The firm has a fifty day simple moving average of $59.12 and a 200-day simple moving average of $60.31. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 1.78. The stock has a market capitalization of $22.09 billion, a price-to-earnings ratio of 34.23, a PEG ratio of 1.08 and a beta of 2.04.

Carlyle Group (NASDAQ:CG) last announced its earnings results on Friday, November 7th. The financial services provider reported $0.98 EPS for the quarter, hitting the consensus estimate of $0.98. Carlyle Group had a net margin of 16.91% and a return on equity of 23.46%. The firm had revenue of $782.50 million for the quarter, compared to the consensus estimate of $848.51 million. During the same quarter last year, the firm posted $0.95 EPS. On average, sell-side analysts expect that Carlyle Group will post 4.48 earnings per share for the current year.

Insiders Place Their Bets

In other Carlyle Group news, Director David M. Rubenstein sold 625,000 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $56.55, for a total transaction of $35,343,750.00. Following the sale, the director owned 27,999,644 shares of the company’s stock, valued at approximately $1,583,379,868.20. The trade was a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 26.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Carlyle Group

A number of hedge funds have recently made changes to their positions in CG. Allworth Financial LP boosted its stake in shares of Carlyle Group by 150.3% in the 2nd quarter. Allworth Financial LP now owns 498 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 299 shares during the last quarter. WFA of San Diego LLC bought a new stake in Carlyle Group during the 2nd quarter valued at $26,000. Geneos Wealth Management Inc. raised its holdings in Carlyle Group by 755.3% during the first quarter. Geneos Wealth Management Inc. now owns 650 shares of the financial services provider’s stock worth $28,000 after buying an additional 574 shares during the last quarter. Bernard Wealth Management Corp. bought a new position in shares of Carlyle Group in the fourth quarter valued at $30,000. Finally, Quarry LP bought a new stake in shares of Carlyle Group during the third quarter worth about $33,000. 55.88% of the stock is currently owned by institutional investors.

About Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager that invests across a range of strategies including private equity, real assets (such as real estate and infrastructure), global credit, and investment solutions. Founded in 1987 and headquartered in Washington, DC, Carlyle raises and manages investment funds that acquire, operate and exit companies and assets on behalf of institutional and private investors. The firm is publicly traded on the Nasdaq exchange and operates as an asset manager and investment advisor rather than as an operating company.

Carlyle’s core activities include sourcing and executing private equity buyouts and growth investments, originating and managing credit and financing solutions, and acquiring and operating real asset portfolios.