Carlyle Group Inc. (NASDAQ:CG) Receives $59.31 Average Target Price from Brokerages

Shares of Carlyle Group Inc. (NASDAQ:CG) have received an average recommendation of “Hold” from the fifteen research firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $59.3077.

A number of equities analysts recently weighed in on CG shares. Keefe, Bruyette & Woods lifted their price objective on shares of Carlyle Group from $47.00 to $50.00 and gave the company a “market perform” rating in a research report on Thursday, August 6th. Morgan Stanley set a $57.00 target price on shares of Carlyle Group in a research note on Tuesday, July 21st. Citigroup reaffirmed an “outperform” rating on shares of Carlyle Group in a report on Thursday, August 6th. Barclays increased their price target on shares of Carlyle Group from $57.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Carlyle Group in a report on Thursday, August 6th.

Carlyle Group Price Performance

CG opened at $46.97 on Tuesday. Carlyle Group has a 52 week low of $39.60 and a 52 week high of $69.85. The business has a 50 day moving average price of $46.69 and a two-hundred day moving average price of $47.32. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 1.91. The company has a market cap of $16.74 billion, a PE ratio of 48.93, a P/E/G ratio of 1.44 and a beta of 1.84.

Carlyle Group (NASDAQ:CG) last announced its earnings results on Tuesday, August 4th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.16. Carlyle Group had a return on equity of 22.52% and a net margin of 10.08%.The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $923.50 million. During the same period last year, the business posted $0.87 EPS. The company’s revenue was down 28.6% on a year-over-year basis. As a group, research analysts anticipate that Carlyle Group will post 3.69 EPS for the current year.

Carlyle Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Monday, August 17th were paid a $0.35 dividend. The ex-dividend date was Monday, August 17th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.0%. Carlyle Group’s payout ratio is 145.83%.

Institutional Investors Weigh In On Carlyle Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Carlyle Group during the 2nd quarter worth approximately $1,346,848,000. California State Teachers Retirement System boosted its stake in shares of Carlyle Group by 3,902.5% during the second quarter. California State Teachers Retirement System now owns 12,772,595 shares of the financial services provider’s stock valued at $537,854,000 after acquiring an additional 12,453,476 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Carlyle Group during the 2nd quarter worth about $249,077,000. Norges Bank purchased a new stake in Carlyle Group in the 4th quarter worth approximately $288,257,000. Finally, Legal & General Group Plc purchased a new stake in shares of Carlyle Group in the second quarter valued at $162,984,000. Institutional investors and hedge funds own 55.88% of the company’s stock.

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.