The Carlyle Group (NASDAQ:CG) Reaches New 12-Month High at $27.77

The Carlyle Group LP (NASDAQ:CG) shares hit a new 52-week high on Wednesday . The company traded as high as $27.77 and last traded at $27.08, with a volume of 538625 shares trading hands. The stock had previously closed at $27.52.

A number of equities research analysts recently weighed in on the stock. Oppenheimer set a $33.00 price target on shares of The Carlyle Group and gave the company a “buy” rating in a research report on Tuesday, October 8th. Bank of America boosted their price target on shares of The Carlyle Group from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Zacks Investment Research raised shares of The Carlyle Group from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research report on Monday, October 14th. ValuEngine cut shares of The Carlyle Group from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Credit Suisse Group raised shares of The Carlyle Group to an “outperform” rating and boosted their price target for the company from $11.50 to $14.00 in a research report on Friday, August 16th. Nine analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $19.73.

The company has a debt-to-equity ratio of 1.96, a current ratio of 2.72 and a quick ratio of 2.72. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 10.30 and a beta of 1.69. The business’s 50 day simple moving average is $25.56 and its 200 day simple moving average is $22.68.

The Carlyle Group (NASDAQ:CG) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.21. The company had revenue of $550.70 million for the quarter, compared to analyst estimates of $496.69 million. The Carlyle Group had a net margin of 12.74% and a return on equity of 6.07%. The Carlyle Group’s quarterly revenue was up 19.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.69 earnings per share. As a group, analysts expect that The Carlyle Group LP will post 1.65 EPS for the current fiscal year.

In related news, CAO Pamela L. Bentley sold 13,302 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $22.85, for a total value of $303,950.70. Following the completion of the sale, the chief accounting officer now owns 133,660 shares in the company, valued at $3,054,131. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Curtis L. Buser sold 80,381 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $22.85, for a total transaction of $1,836,705.85. Following the completion of the sale, the chief financial officer now owns 530,328 shares of the company’s stock, valued at approximately $12,117,994.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,004,829 shares of company stock worth $93,349,143.

A number of large investors have recently made changes to their positions in CG. Augustine Asset Management Inc. lifted its position in shares of The Carlyle Group by 0.8% during the 2nd quarter. Augustine Asset Management Inc. now owns 68,571 shares of the financial services provider’s stock valued at $1,550,000 after acquiring an additional 527 shares during the period. LGT Capital Partners LTD. lifted its position in shares of The Carlyle Group by 20.0% during the 3rd quarter. LGT Capital Partners LTD. now owns 510,000 shares of the financial services provider’s stock valued at $13,036,000 after acquiring an additional 85,000 shares during the period. Stelac Advisory Services LLC lifted its position in shares of The Carlyle Group by 62.1% during the 2nd quarter. Stelac Advisory Services LLC now owns 16,770 shares of the financial services provider’s stock valued at $379,000 after acquiring an additional 6,422 shares during the period. Schafer Cullen Capital Management Inc lifted its position in shares of The Carlyle Group by 37.9% during the 2nd quarter. Schafer Cullen Capital Management Inc now owns 19,790 shares of the financial services provider’s stock valued at $476,000 after acquiring an additional 5,440 shares during the period. Finally, Cornerstone Wealth Group LLC lifted its position in shares of The Carlyle Group by 68.1% during the 2nd quarter. Cornerstone Wealth Group LLC now owns 127,922 shares of the financial services provider’s stock valued at $2,892,000 after acquiring an additional 51,841 shares during the period. Hedge funds and other institutional investors own 44.81% of the company’s stock.

About The Carlyle Group (NASDAQ:CG)

The Carlyle Group L.P. 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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