Carlyle Group Inc. (NASDAQ:CG) Stock Has Average Target Price of $58.93 According to Brokerages

Key Points

• Analyst consensus is “Hold” among 16 firms, with eight buy, seven hold, and one sell rating. The average 12-month price target is $58.93, although recent targets range from $52 to $70.
• Carlyle Group opened at $40.03, near its 52-week low of $38.76 and below its 50-day and 200-day moving averages. Its latest quarterly results beat expectations, with EPS of $1.07 versus a $0.91 consensus and revenue of $1.11 billion.
• Director David Rubenstein sold 400,000 shares for $17.1 million, while institutional investors and hedge funds own 55.88% of the stock. Carlyle also pays a quarterly dividend of $0.35, implying a 3.5% annualized yield.

Carlyle Group Inc. (NASDAQ:CG - Get Free Report) has been assigned an average recommendation of "Hold" from the sixteen research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $58.93.

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada dropped their target price on shares of Carlyle Group from $58.00 to $56.00 and set a "sector perform" rating on the stock in a research report on Monday, July 13th. BMO Capital Markets reiterated an "outperform" rating and set a $52.00 price objective on shares of Carlyle Group in a research report on Monday, July 13th. Citigroup reissued an "outperform" rating on shares of Carlyle Group in a research note on Thursday, August 6th. Barclays raised their target price on Carlyle Group from $57.00 to $64.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Finally, UBS Group upped their price target on Carlyle Group from $63.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, August 6th.

Insider Activity at Carlyle Group

In related news, Director David Rubenstein sold 400,000 shares of the business's stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $42.74, for a total transaction of $17,096,000.00. Following the transaction, the director directly owned 26,899,644 shares of the company's stock, valued at approximately $1,149,690,784.56. The trade was a 1.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 25.40% of the company's stock.

Hedge Funds Weigh In On Carlyle Group

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in Carlyle Group during the second quarter valued at $1,346,848,000. William Blair Investment Management LLC purchased a new stake in shares of Carlyle Group during the 2nd quarter worth about $249,077,000. Geode Capital Management LLC lifted its holdings in shares of Carlyle Group by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 4,999,880 shares of the financial services provider's stock valued at $294,817,000 after buying an additional 79,134 shares during the last quarter. Norges Bank bought a new stake in shares of Carlyle Group in the 4th quarter valued at approximately $288,257,000. Finally, Legal & General Group Plc acquired a new position in Carlyle Group in the second quarter worth approximately $162,984,000. 55.88% of the stock is owned by institutional investors and hedge funds.

Carlyle Group Price Performance

NASDAQ:CG opened at $40.03 on Friday. Carlyle Group has a 52-week low of $38.76 and a 52-week high of $67.30. The firm has a market cap of $14.26 billion, a P/E ratio of 41.70, a PEG ratio of 1.23 and a beta of 1.84. The business's 50-day moving average price is $45.91 and its 200 day moving average price is $46.31. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 1.91.

Carlyle Group (NASDAQ:CG - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.16. Carlyle Group had a return on equity of 22.52% and a net margin of 10.08%.The company had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $923.50 million. During the same quarter in the prior year, the company earned $0.87 earnings per share. The firm's revenue was down 28.6% on a year-over-year basis. As a group, sell-side analysts predict that Carlyle Group will post 3.6 earnings per share for the current fiscal year.

Carlyle Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Monday, August 17th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, August 17th. Carlyle Group's dividend payout ratio is 145.83%.

About Carlyle Group

The Carlyle Group Inc NASDAQ: CG is a global investment firm that manages alternative assets for institutional investors, private wealth clients and other investors. The company invests across private equity, global credit and investment solutions, with strategies spanning corporate, real estate and infrastructure investments.

Carlyle's investment activities include acquiring and supporting companies through its corporate private equity platform, providing loans and other financing through its credit business, and managing portfolios of private market investments through its investment solutions platform.

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