The Carlyle Group (NASDAQ:CG) Hits New 1-Year High – Here’s Why

Shares of The Carlyle Group Inc. (NASDAQ:CG) reached a new 52-week high on Thursday . The company traded as high as $56.84 and last traded at $56.62, with a volume of 1847527 shares traded. The stock had previously closed at $56.41.

Analyst Ratings Changes

CG has been the topic of several recent research reports. Evercore ISI upped their price target on The Carlyle Group from $45.00 to $47.00 and gave the stock an “in-line” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. lifted their price target on shares of The Carlyle Group from $44.00 to $50.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. JMP Securities restated a “market outperform” rating and issued a $60.00 price objective on shares of The Carlyle Group in a report on Wednesday, October 9th. UBS Group lifted their target price on shares of The Carlyle Group from $43.00 to $54.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Morgan Stanley lifted their price objective on The Carlyle Group from $46.00 to $50.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, The Carlyle Group has a consensus rating of “Hold” and a consensus target price of $54.44.

The Carlyle Group Price Performance

The firm has a market capitalization of $20.25 billion, a PE ratio of 195.24, a PEG ratio of 0.97 and a beta of 1.69. The company has a debt-to-equity ratio of 1.38, a current ratio of 2.32 and a quick ratio of 2.32. The firm has a 50-day simple moving average of $52.25 and a 200-day simple moving average of $47.27.

The Carlyle Group (NASDAQ:CG) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. The Carlyle Group had a net margin of 2.21% and a return on equity of 24.91%. The business had revenue of $895.00 million during the quarter, compared to analysts’ expectations of $908.17 million. During the same period in the prior year, the company earned $0.87 earnings per share. The firm’s revenue was up 15.2% on a year-over-year basis. As a group, equities analysts forecast that The Carlyle Group Inc. will post 3.8 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Daniel A. D’aniello sold 495,542 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $51.53, for a total transaction of $25,535,279.26. Following the completion of the transaction, the director now owns 32,504,102 shares in the company, valued at approximately $1,674,936,376.06. This represents a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 27.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in shares of The Carlyle Group by 68.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,919,439 shares of the financial services provider’s stock valued at $82,651,000 after purchasing an additional 777,304 shares during the last quarter. Franklin Street Advisors Inc. NC bought a new position in The Carlyle Group during the 4th quarter valued at about $17,671,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of The Carlyle Group by 74.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 44,984 shares of the financial services provider’s stock valued at $1,806,000 after buying an additional 19,160 shares during the period. Empowered Funds LLC raised its holdings in shares of The Carlyle Group by 443.1% in the third quarter. Empowered Funds LLC now owns 157,674 shares of the financial services provider’s stock worth $6,789,000 after buying an additional 128,644 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in shares of The Carlyle Group during the 3rd quarter worth approximately $67,540,000. Hedge funds and other institutional investors own 55.88% of the company’s stock.

About The Carlyle Group

The Carlyle Group Inc 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.