Carlyle Group (NASDAQ:CG) Hits New 12-Month High - Here's Why

Key Points

• The Carlyle Group (NASDAQ:CG) reached a new 52-week high at $65.03 during trading, closing at $64.76, with a significant volume of 2.6 million shares traded.
• Analysts have recently upgraded their ratings on Carlyle Group, with Citigroup raising the price target from $44.00 to $65.00, reflecting increased confidence in the company's performance.
• The company announced a quarterly dividend of $0.35 per share, resulting in an annualized dividend yield of 2.2%, with a payout ratio currently at 40.94%.

Carlyle Group Inc. (NASDAQ:CG - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $65.03 and last traded at $64.76, with a volume of 2646877 shares changing hands. The stock had previously closed at $62.40.

Analysts Set New Price Targets

CG has been the topic of several research reports. TD Cowen upgraded shares of Carlyle Group from a "hold" rating to a "buy" rating and set a $56.00 price target on the stock in a report on Wednesday, May 14th. Citigroup upgraded shares of Carlyle Group from a "neutral" rating to a "buy" rating and raised their price target for the company from $44.00 to $65.00 in a report on Thursday, July 10th. Cowen upgraded shares of Carlyle Group from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Keefe, Bruyette & Woods lifted their price objective on shares of Carlyle Group from $43.00 to $45.00 and gave the company a "market perform" rating in a research note on Monday, May 12th. Finally, Evercore ISI lifted their price objective on shares of Carlyle Group from $45.00 to $58.00 and gave the company an "in-line" rating in a research note on Thursday, July 10th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $58.40.

Carlyle Group Trading Up 3.8%

The company has a market cap of $23.42 billion, a price-to-earnings ratio of 18.94, a P/E/G ratio of 1.14 and a beta of 1.90. The company has a debt-to-equity ratio of 1.52, a current ratio of 2.24 and a quick ratio of 2.36. The firm's fifty day moving average price is $55.00 and its 200-day moving average price is $48.22.

Carlyle Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Monday, August 18th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $1.40 annualized dividend and a yield of 2.2%. Carlyle Group's dividend payout ratio (DPR) is presently 40.94%.

Institutional Trading of Carlyle Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Teacher Retirement System of Texas bought a new stake in Carlyle Group in the first quarter worth about $1,481,000. Wealth Enhancement Advisory Services LLC raised its position in Carlyle Group by 105.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,929 shares of the financial services provider's stock worth $476,000 after acquiring an additional 5,611 shares in the last quarter. Invesco Ltd. raised its position in Carlyle Group by 9.7% in the fourth quarter. Invesco Ltd. now owns 650,735 shares of the financial services provider's stock worth $32,856,000 after acquiring an additional 57,606 shares in the last quarter. Private Trust Co. NA raised its position in Carlyle Group by 101.9% in the first quarter. Private Trust Co. NA now owns 636 shares of the financial services provider's stock worth $28,000 after acquiring an additional 321 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in Carlyle Group by 247.7% in the first quarter. Bessemer Group Inc. now owns 1,217 shares of the financial services provider's stock worth $53,000 after acquiring an additional 867 shares in the last quarter. 55.88% of the stock is currently owned by institutional investors.

About 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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