Wells Fargo & Company Increases Carlyle Group (NASDAQ:CG) Price Target to $61.00

Carlyle Group (NASDAQ:CG - Free Report) had its price objective raised by Wells Fargo & Company from $49.00 to $61.00 in a research note published on Friday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the financial services provider's stock.

Other analysts also recently issued research reports about the stock. Citigroup raised shares of Carlyle Group from a "neutral" rating to a "buy" rating and increased their target price for the company from $44.00 to $65.00 in a research report on Thursday. Cowen upgraded shares of Carlyle Group from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. 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. Oppenheimer lowered shares of Carlyle Group from an "outperform" rating to a "market perform" rating in a research note on Wednesday, March 19th. Finally, JMP Securities lowered their price objective on shares of Carlyle Group from $62.00 to $58.00 and set a "market outperform" rating for the company in a research note on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $56.93.

Carlyle Group Trading Down 0.3%

NASDAQ CG traded down $0.15 during trading hours on Friday, reaching $58.35. The company's stock had a trading volume of 2,297,335 shares, compared to its average volume of 2,678,645. The firm has a fifty day simple moving average of $47.77 and a 200-day simple moving average of $46.98. The stock has a market cap of $21.07 billion, a P/E ratio of 19.78, a P/E/G ratio of 1.22 and a beta of 1.86. Carlyle Group has a 52 week low of $33.02 and a 52 week high of $58.84. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.36 and a quick ratio of 2.36.

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

Carlyle Group Dividend Announcement

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

Institutional Investors Weigh In On Carlyle Group

A number of hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC raised its stake in shares of Carlyle Group by 18.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,150 shares of the financial services provider's stock worth $59,000 after purchasing an additional 177 shares during the period. UMB Bank n.a. raised its stake in shares of Carlyle Group by 10.1% during the 2nd quarter. UMB Bank n.a. now owns 3,792 shares of the financial services provider's stock worth $195,000 after purchasing an additional 347 shares during the period. IFM Investors Pty Ltd raised its stake in shares of Carlyle Group by 5.8% during the 2nd quarter. IFM Investors Pty Ltd now owns 48,590 shares of the financial services provider's stock worth $2,498,000 after purchasing an additional 2,645 shares during the period. Moody National Bank Trust Division raised its stake in Carlyle Group by 1.9% in the 2nd quarter. Moody National Bank Trust Division now owns 28,505 shares of the financial services provider's stock valued at $1,465,000 after acquiring an additional 534 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Carlyle Group by 98.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 21,638 shares of the financial services provider's stock valued at $1,205,000 after acquiring an additional 10,709 shares during the period. 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.