Carlyle Group (NASDAQ:CG) Hits New 1-Year High Following Analyst Upgrade

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) shares hit a new 52-week high during trading on Wednesday after JMP Securities raised their price target on the stock from $70.00 to $75.00. JMP Securities currently has a market outperform rating on the stock. Carlyle Group traded as high as $65.03 and last traded at $64.76, with a volume of 2646877 shares trading hands. The stock had previously closed at $62.40.

Several other equities research analysts have also recently commented on CG. Barclays reaffirmed an "overweight" rating and issued a $74.00 price objective (up from $66.00) on shares of Carlyle Group in a research report on Thursday, August 7th. 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 research note on Wednesday, May 14th. Wells Fargo & Company lifted their price target on shares of Carlyle Group from $49.00 to $61.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. Cowen upgraded shares of Carlyle Group from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Finally, Jefferies Financial Group lifted their price target on shares of Carlyle Group from $54.00 to $66.00 and gave the company a "hold" rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Carlyle Group presently has a consensus rating of "Hold" and a consensus target price of $59.60.

Insider Activity

In other Carlyle Group news, General Counsel Jeffrey W. Ferguson sold 202,606 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $64.23, for a total transaction of $13,013,383.38. Following the completion of the sale, the general counsel directly owned 753,255 shares in the company, valued at approximately $48,381,568.65. This trade represents a 21.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 26.30% of the stock is currently owned by insiders.

Institutional Trading of Carlyle Group

A number of large investors have recently made changes to their positions in the stock. Whipplewood Advisors LLC increased its holdings in Carlyle Group by 5,100.0% during the first quarter. Whipplewood Advisors LLC now owns 572 shares of the financial services provider's stock valued at $25,000 after buying an additional 561 shares during the last quarter. Allworth Financial LP lifted its holdings in Carlyle Group by 150.3% during the second 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 in the last quarter. WFA of San Diego LLC purchased a new position in Carlyle Group during the second quarter valued at approximately $26,000. Private Trust Co. NA lifted its holdings in Carlyle Group by 101.9% during the first quarter. Private Trust Co. NA now owns 636 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 321 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted 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 valued at $28,000 after purchasing an additional 574 shares in the last quarter. 55.88% of the stock is currently owned by institutional investors.

Carlyle Group Price Performance

The company has a quick ratio of 2.36, a current ratio of 2.24 and a debt-to-equity ratio of 1.52. The firm has a market cap of $23.10 billion, a PE ratio of 18.67, a P/E/G ratio of 1.17 and a beta of 1.90. The firm's fifty day simple moving average is $56.15 and its two-hundred day simple moving average is $48.39.

Carlyle Group Announces Dividend

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

Carlyle Group Company Profile

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.