Carlyle Group (NASDAQ:CG) Upgraded by Royal Bank Of Canada to “Moderate Buy” Rating

Carlyle Group (NASDAQ:CG) was upgraded by equities research analysts at Royal Bank Of Canada to a “moderate buy” rating in a report issued on Monday,Zacks.com reports.

Several other research firms have also commented on CG. Morgan Stanley set a $71.00 price target on Carlyle Group in a research report on Tuesday, January 27th. Evercore raised their price objective on Carlyle Group from $57.00 to $62.00 and gave the company an “in-line” rating in a research note on Thursday, January 22nd. TD Cowen restated a “buy” rating on shares of Carlyle Group in a report on Wednesday, January 14th. UBS Group cut their price objective on shares of Carlyle Group from $81.00 to $65.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Finally, Wolfe Research reaffirmed an “outperform” rating on shares of Carlyle Group in a research note on Wednesday, January 7th. Eight equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $66.86.

Carlyle Group Stock Performance

CG opened at $50.89 on Monday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 2.49 and a current ratio of 2.49. The stock has a market capitalization of $18.34 billion, a price-to-earnings ratio of 23.34, a PEG ratio of 0.96 and a beta of 2.05. Carlyle Group has a fifty-two week low of $33.02 and a fifty-two week high of $69.85. The company has a fifty day moving average of $59.77 and a 200 day moving average of $59.70.

Carlyle Group (NASDAQ:CG) last posted its earnings results on Friday, February 6th. The financial services provider reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.03). Carlyle Group had a net margin of 16.92% and a return on equity of 23.98%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the business posted $0.92 earnings per share. The company’s revenue for the quarter was up 84.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Carlyle Group will post 4.48 earnings per share for the current fiscal year.

Insider Activity

In other news, Director David M. Rubenstein sold 625,000 shares of the business’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $56.55, for a total value of $35,343,750.00. Following the completion of the transaction, the director directly owned 27,999,644 shares of the company’s stock, valued at approximately $1,583,379,868.20. The trade was a 2.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 26.30% of the company’s stock.

Hedge Funds Weigh In On Carlyle Group

A number of large investors have recently added to or reduced their stakes in CG. AQR Capital Management LLC grew its position in shares of Carlyle Group by 937.5% in the 1st quarter. AQR Capital Management LLC now owns 57,335 shares of the financial services provider’s stock worth $2,499,000 after buying an additional 51,809 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Carlyle Group by 40.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,144,974 shares of the financial services provider’s stock valued at $49,909,000 after acquiring an additional 332,533 shares in the last quarter. Empowered Funds LLC grew its holdings in Carlyle Group by 3.4% in the first quarter. Empowered Funds LLC now owns 48,237 shares of the financial services provider’s stock worth $2,103,000 after purchasing an additional 1,579 shares during the last quarter. Focus Partners Wealth lifted its holdings in shares of Carlyle Group by 27.4% during the 1st quarter. Focus Partners Wealth now owns 5,434 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 1,169 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in shares of Carlyle Group by 755.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 650 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 574 shares in the last quarter. 55.88% of the stock is currently owned by institutional investors.

About Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager that invests across a range of strategies including private equity, real assets (such as real estate and infrastructure), global credit, and investment solutions. Founded in 1987 and headquartered in Washington, DC, Carlyle raises and manages investment funds that acquire, operate and exit companies and assets on behalf of institutional and private investors. The firm is publicly traded on the Nasdaq exchange and operates as an asset manager and investment advisor rather than as an operating company.

Carlyle’s core activities include sourcing and executing private equity buyouts and growth investments, originating and managing credit and financing solutions, and acquiring and operating real asset portfolios.