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

Royal Bank Of Canada upgraded shares of Carlyle Group (NASDAQ:CG) to a moderate buy rating in a research note issued to investors on Monday, Marketbeat reports.

CG has been the topic of a number of other research reports. Wolfe Research reiterated an “outperform” rating on shares of Carlyle Group in a research report on Wednesday, January 7th. Evercore lifted their price target on Carlyle Group from $57.00 to $62.00 and gave the stock an “in-line” rating in a report on Thursday, January 22nd. Morgan Stanley set a $71.00 price objective on shares of Carlyle Group in a report on Tuesday, January 27th. Citigroup reduced their target price on shares of Carlyle Group from $74.00 to $71.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Carlyle Group from $66.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. Eight investment 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $66.86.

Carlyle Group Stock Performance

NASDAQ:CG opened at $50.89 on Monday. The company has a market cap of $18.34 billion, a P/E ratio of 23.34, a P/E/G ratio of 0.96 and a beta of 2.05. Carlyle Group has a twelve month low of $33.02 and a twelve month high of $69.85. The company’s 50-day moving average price is $59.77 and its 200-day moving average price is $59.70. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 1.78.

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

Carlyle Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Monday, February 16th were given a dividend of $0.35 per share. The ex-dividend date was Friday, February 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.8%. Carlyle Group’s dividend payout ratio (DPR) is currently 64.22%.

Insider Activity at Carlyle Group

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CG. Generali Asset Management SPA SGR acquired a new stake in shares of Carlyle Group during the third quarter worth about $1,913,000. Fifth Third Bancorp increased its stake in Carlyle Group by 28.7% during the 3rd quarter. Fifth Third Bancorp now owns 107,198 shares of the financial services provider’s stock worth $6,721,000 after buying an additional 23,901 shares during the period. New York State Common Retirement Fund lifted its holdings in Carlyle Group by 16.3% during the 3rd quarter. New York State Common Retirement Fund now owns 207,395 shares of the financial services provider’s stock worth $13,004,000 after buying an additional 29,000 shares in the last quarter. Onyx Bridge Wealth Group LLC purchased a new position in Carlyle Group in the 3rd quarter valued at approximately $1,564,000. Finally, Vanguard Group Inc. grew its stake in shares of Carlyle Group by 2.9% in the third quarter. Vanguard Group Inc. now owns 25,434,009 shares of the financial services provider’s stock worth $1,594,712,000 after acquiring an additional 714,428 shares in the last quarter. 55.88% of the stock is currently owned by hedge funds and other institutional investors.

Carlyle Group Company Profile

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.