Carlyle Group (NASDAQ:CG) Sets New 12-Month High Following Analyst Upgrade

Carlyle Group Inc. (NASDAQ:CG - Get Free Report)'s share price hit a new 52-week high during trading on Thursday after Wells Fargo & Company raised their price target on the stock from $49.00 to $61.00. Wells Fargo & Company currently has an equal weight rating on the stock. Carlyle Group traded as high as $58.55 and last traded at $58.30, with a volume of 886279 shares trading hands. The stock had previously closed at $56.87.

Several other analysts have also recently commented on CG. Oppenheimer cut shares of Carlyle Group from an "outperform" rating to a "market perform" rating in a research report on Wednesday, March 19th. Bank of America decreased their price target on shares of Carlyle Group from $47.00 to $46.00 and set an "underperform" rating for the company in a report on Friday, April 4th. Barclays boosted their price target on shares of Carlyle Group from $49.00 to $64.00 and gave the company an "overweight" rating in a report on Thursday. JMP Securities decreased their price target on shares of Carlyle Group from $62.00 to $58.00 and set a "market outperform" rating for the company in a report on Tuesday, April 8th. Finally, Cowen raised shares of Carlyle Group from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $56.93.

Hedge Funds Weigh In On Carlyle Group

Hedge funds have recently modified their holdings of the stock. Whipplewood Advisors LLC grew its stake in shares of Carlyle Group by 5,100.0% in 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 in the last quarter. Private Trust Co. NA grew its stake in shares of Carlyle Group by 101.9% in the first quarter. Private Trust Co. NA now owns 636 shares of the financial services provider's stock valued at $28,000 after buying an additional 321 shares in the last quarter. Geneos Wealth Management Inc. grew 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 purchasing an additional 574 shares during the period. Main Street Group LTD bought a new position in Carlyle Group during the fourth quarter worth about $29,000. Finally, LRI Investments LLC bought a new position in Carlyle Group during the fourth quarter worth about $32,000. Institutional investors own 55.88% of the company's stock.

Carlyle Group Price Performance

The business has a fifty day moving average of $47.77 and a 200 day moving average of $46.94. The firm has a market cap of $21.07 billion, a P/E ratio of 19.78, a PEG ratio of 1.22 and a beta of 1.86. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 1.56.

Carlyle Group (NASDAQ:CG - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.17. Carlyle Group had a return on equity of 23.78% and a net margin of 19.00%. The business had revenue of $973.10 million during the quarter, compared to analysts' expectations of $972.27 million. During the same period in the previous year, the company posted $1.01 earnings per share. The firm's revenue for the quarter was up 2.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Carlyle Group Inc. will post 4.48 earnings per share for the current year.

Carlyle Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Monday, May 19th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.40 annualized dividend and a yield of 2.40%. Carlyle Group's dividend payout ratio is currently 47.46%.

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.