The Carlyle Group (NASDAQ:CG) Hits New 52-Week High at $27.77

The Carlyle Group LP (NASDAQ:CG) reached a new 52-week high on Wednesday . The stock 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.

Several research firms recently issued reports on CG. Oppenheimer set a $33.00 price target on shares of The Carlyle Group and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Credit Suisse Group raised shares of The Carlyle Group to an “outperform” rating and increased their price target for the stock from $11.50 to $14.00 in a research report on Friday, August 16th. 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. Bank of America increased their price target on shares of The Carlyle Group from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Finally, ValuEngine lowered shares of The Carlyle Group from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Nine research 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’s stock. The stock has an average rating of “Buy” and an average target price of $19.73.

The company has a market cap of $3.04 billion, a price-to-earnings ratio of 10.31 and a beta of 1.69. The company’s fifty day moving average price is $25.75 and its two-hundred day moving average price is $22.77. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 1.96.

The Carlyle Group (NASDAQ:CG) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.21. The company had revenue of $550.70 million during 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 company’s revenue was up 19.0% on a year-over-year basis. During the same quarter last year, the business posted $0.69 earnings per share. Research analysts forecast that The Carlyle Group LP will post 1.65 earnings per share for the current year.

In other news, major shareholder Carlyle Group Management L.L.C sold 800,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $110.74, for a total transaction of $88,592,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Pamela L. Bentley sold 13,302 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $22.85, for a total transaction of $303,950.70. Following the sale, the chief accounting officer now directly owns 133,660 shares of the company’s stock, valued at approximately $3,054,131. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,004,829 shares of company stock valued at $93,349,143.

Several hedge funds and other institutional investors have recently bought and sold shares of CG. BigSur Wealth Management LLC purchased a new position in shares of The Carlyle Group in the 2nd quarter valued at about $231,000. LGT Capital Partners LTD. increased its holdings in shares of The Carlyle Group by 4.9% in the 2nd quarter. LGT Capital Partners LTD. now owns 425,000 shares of the financial services provider’s stock valued at $9,609,000 after acquiring an additional 20,000 shares during the last quarter. Arlington Partners LLC purchased a new position in shares of The Carlyle Group in the 2nd quarter valued at about $41,000. Commonwealth Equity Services LLC increased its holdings in shares of The Carlyle Group by 9.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 28,876 shares of the financial services provider’s stock valued at $652,000 after acquiring an additional 2,511 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. purchased a new position in shares of The Carlyle Group in the 2nd quarter valued at about $9,948,000. 44.81% of the stock is owned by institutional investors.

The Carlyle Group Company Profile (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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