The Carlyle Group (NASDAQ:CG) Sets New 12-Month High at $28.39

The Carlyle Group LP (NASDAQ:CG) shares reached a new 52-week high during trading on Friday . The stock traded as high as $28.39 and last traded at $28.28, with a volume of 1343 shares trading hands. The stock had previously closed at $28.15.

Several equities research analysts recently commented on CG shares. National Bank Financial boosted their price objective on shares of The Carlyle Group from $14.50 to $15.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Credit Suisse Group raised shares of The Carlyle Group to an “outperform” rating and boosted their price objective for the company from $11.50 to $14.00 in a research report on Friday, August 16th. Bank of America boosted their price objective 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 cut shares of The Carlyle Group from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, TD Securities cut their price objective on shares of The Carlyle Group from $14.50 to $14.00 and set a “hold” rating on the stock in a research report on Thursday, October 31st. Nine analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The Carlyle Group currently has a consensus rating of “Buy” and a consensus target price of $20.17.

The firm has a market cap of $3.27 billion, a price-to-earnings ratio of 10.80 and a beta of 1.72. The company has a current ratio of 2.90, a quick ratio of 2.90 and a debt-to-equity ratio of 1.97. The stock’s 50 day moving average is $26.66 and its 200 day moving average is $23.61.

The Carlyle Group (NASDAQ:CG) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The business had revenue of $527.80 million during the quarter, compared to the consensus estimate of $514.55 million. The Carlyle Group had a net margin of 16.19% and a return on equity of 4.48%. The firm’s revenue was down 17.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.56 EPS. On average, equities research analysts predict that The Carlyle Group LP will post 1.66 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 4.37%. The ex-dividend date of this dividend is Friday, November 8th. The Carlyle Group’s payout ratio is currently 47.15%.

In other news, CAO Pamela L. Bentley sold 20,000 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $26.69, for a total transaction of $533,800.00. Following the completion of the transaction, the chief accounting officer now owns 113,660 shares of the company’s stock, valued at $3,033,585.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Several institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in shares of The Carlyle Group by 390.1% during the second quarter. JPMorgan Chase & Co. now owns 4,290,208 shares of the financial services provider’s stock worth $95,157,000 after buying an additional 3,414,772 shares during the period. Bank of America Corp DE increased its position in shares of The Carlyle Group by 4.9% during the second quarter. Bank of America Corp DE now owns 3,452,482 shares of the financial services provider’s stock worth $78,060,000 after buying an additional 159,905 shares during the period. Bank of Montreal Can increased its position in shares of The Carlyle Group by 38.6% during the second quarter. Bank of Montreal Can now owns 2,288,126 shares of the financial services provider’s stock worth $51,734,000 after buying an additional 637,026 shares during the period. Artemis Investment Management LLP increased its position in shares of The Carlyle Group by 20.4% during the third quarter. Artemis Investment Management LLP now owns 2,247,512 shares of the financial services provider’s stock worth $57,148,000 after buying an additional 381,231 shares during the period. Finally, Markel Corp increased its position in shares of The Carlyle Group by 2.9% during the second quarter. Markel Corp now owns 1,177,000 shares of the financial services provider’s stock worth $26,612,000 after buying an additional 33,000 shares during the period. Institutional investors own 42.81% 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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