The Carlyle Group (NASDAQ:CG) had its target price reduced by equities research analysts at Deutsche Bank from $26.00 to $24.00 in a research report issued to clients and investors on Thursday, Stock Target Advisor reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. Deutsche Bank’s price objective indicates a potential upside of 18.34% from the company’s current price.
CG has been the topic of several other reports. Morgan Stanley increased their price objective on The Carlyle Group from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, August 14th. Oppenheimer set a $35.00 price objective on The Carlyle Group and gave the company a “buy” rating in a research report on Sunday, September 9th. ValuEngine cut The Carlyle Group from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd. BidaskClub cut The Carlyle Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Finally, Citigroup increased their price objective on The Carlyle Group from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, August 8th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $28.90.
The Carlyle Group stock opened at $20.28 on Thursday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 0.59 and a current ratio of 0.71. The Carlyle Group has a one year low of $19.50 and a one year high of $25.90. The firm has a market cap of $2.30 billion, a P/E ratio of 5.84 and a beta of 1.79.
The Carlyle Group (NASDAQ:CG) last released its quarterly earnings data on Wednesday, August 1st. The financial services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.52 by $0.17. The Carlyle Group had a return on equity of 31.20% and a net margin of 6.37%. The company had revenue of $840.00 million for the quarter, compared to analysts’ expectations of $713.35 million. During the same period last year, the firm posted $0.59 earnings per share. The Carlyle Group’s revenue was down 2.2% compared to the same quarter last year. As a group, equities analysts anticipate that The Carlyle Group will post 2.43 EPS for the current fiscal year.
In other The Carlyle Group news, insider Pamela L. Bentley sold 14,179 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $24.30, for a total value of $344,549.70. Following the transaction, the insider now directly owns 136,585 shares of the company’s stock, valued at $3,319,015.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Curtis L. Buser sold 45,107 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $24.30, for a total value of $1,096,100.10. Following the completion of the transaction, the chief financial officer now directly owns 428,685 shares in the company, valued at $10,417,045.50. The disclosure for this sale can be found here. Insiders sold 2,329,197 shares of company stock worth $253,721,987 over the last three months.
Several hedge funds and other institutional investors have recently bought and sold shares of CG. Alkeon Capital Management LLC raised its stake in shares of The Carlyle Group by 165.3% in the first quarter. Alkeon Capital Management LLC now owns 2,006,228 shares of the financial services provider’s stock worth $42,833,000 after buying an additional 1,250,000 shares during the period. Bank of Montreal Can bought a new position in shares of The Carlyle Group in the second quarter worth about $17,466,000. Algebris UK Ltd raised its stake in shares of The Carlyle Group by 78.4% in the second quarter. Algebris UK Ltd now owns 1,133,997 shares of the financial services provider’s stock worth $24,154,000 after buying an additional 498,397 shares during the period. LGT Capital Partners LTD. bought a new position in shares of The Carlyle Group in the second quarter worth about $6,390,000. Finally, First Republic Investment Management Inc. bought a new position in shares of The Carlyle Group in the second quarter worth about $5,417,000. 40.48% of the stock is currently owned by hedge funds and other institutional investors.
About The Carlyle Group
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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