Carlyle Group (NASDAQ:CG) Stock Rating Upgraded by Piper Sandler

Carlyle Group (NASDAQ:CG) was upgraded by stock analysts at Piper Sandler to a “strong-buy” rating in a report released on Thursday, Zacks reports.

Other equities research analysts also recently issued reports about the stock. Keefe, Bruyette & Woods lifted their price target 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. Citigroup reiterated an “outperform” rating on shares of Carlyle Group in a research report on Thursday, August 6th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $52.00 price target on shares of Carlyle Group in a report on Monday, July 13th. TD Cowen reiterated a “hold” rating on shares of Carlyle Group in a research report on Thursday, August 6th. Finally, Citizens Jmp raised their price target on Carlyle Group from $70.00 to $73.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.93.

Carlyle Group Price Performance

Shares of NASDAQ CG opened at $39.42 on Thursday. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.35 and a quick ratio of 2.35. Carlyle Group has a 1-year low of $38.76 and a 1-year high of $67.30. The company has a market cap of $14.05 billion, a PE ratio of 41.06, a P/E/G ratio of 1.26 and a beta of 1.84. The stock has a fifty day moving average price of $46.03 and a 200 day moving average price of $46.36.

Carlyle Group (NASDAQ:CG) last released its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $923.50 million. During the same quarter in the prior year, the business posted $0.87 earnings per share. Carlyle Group’s revenue was down 28.6% compared to the same quarter last year. Sell-side analysts forecast that Carlyle Group will post 3.61 EPS for the current year.

Insiders Place Their Bets

In other Carlyle Group news, Director David Rubenstein sold 400,000 shares of the firm’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $42.74, for a total value of $17,096,000.00. Following the sale, the director directly owned 26,899,644 shares of the company’s stock, valued at approximately $1,149,690,784.56. This trade represents a 1.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 25.40% of the company’s stock.

Institutional Investors Weigh In On Carlyle Group

Several hedge funds have recently modified their holdings of CG. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Carlyle Group by 22.7% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,254 shares of the financial services provider’s stock worth $221,000 after buying an additional 971 shares during the last quarter. National Pension Service increased its stake in Carlyle Group by 4.1% during the second quarter. National Pension Service now owns 15,875 shares of the financial services provider’s stock worth $668,000 after acquiring an additional 627 shares during the last quarter. GFG Capital LLC raised its holdings in shares of Carlyle Group by 4.3% in the 2nd quarter. GFG Capital LLC now owns 51,942 shares of the financial services provider’s stock worth $2,187,000 after purchasing an additional 2,131 shares during the period. Squarepoint Ops LLC lifted its stake in shares of Carlyle Group by 958.8% in the 2nd quarter. Squarepoint Ops LLC now owns 495,608 shares of the financial services provider’s stock valued at $20,870,000 after purchasing an additional 448,801 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Carlyle Group by 17.5% in the 2nd quarter. Arizona State Retirement System now owns 75,075 shares of the financial services provider’s stock valued at $3,161,000 after acquiring an additional 11,190 shares during the period. 55.88% of the stock is owned by institutional investors and hedge funds.

About Carlyle Group

The Carlyle Group Inc (NASDAQ:CG) is a global investment firm that manages alternative assets for institutional investors, private wealth clients and other investors. The company invests across private equity, global credit and investment solutions, with strategies spanning corporate, real estate and infrastructure investments.

Carlyle’s investment activities include acquiring and supporting companies through its corporate private equity platform, providing loans and other financing through its credit business, and managing portfolios of private market investments through its investment solutions platform.