The Carlyle Group (NASDAQ:CG) was upgraded by equities research analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Monday, Analyst Ratings Network reports. The brokerage currently has a $65.00 price target on the financial services provider’s stock, up from their previous price target of $59.00. BMO Capital Markets’ price objective would suggest a potential upside of 32.33% from the company’s current price.
A number of other equities analysts also recently issued reports on the stock. Morgan Stanley increased their price objective on shares of The Carlyle Group from $44.00 to $49.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 20th. Deutsche Bank Aktiengesellschaft upgraded shares of The Carlyle Group from a “hold” rating to a “buy” rating and raised their target price for the company from $53.00 to $58.00 in a research note on Wednesday, August 11th. Zacks Investment Research upgraded shares of The Carlyle Group from a “hold” rating to a “strong-buy” rating and set a $57.00 target price for the company in a research note on Tuesday, August 3rd. CIBC upgraded shares of The Carlyle Group to a “neutral” rating in a research note on Wednesday, August 11th. Finally, Citigroup raised their target price on shares of The Carlyle Group from $51.50 to $54.50 and gave the company a “buy” rating in a research note on Monday, July 12th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The Carlyle Group presently has a consensus rating of “Buy” and a consensus price target of $42.50.
Shares of NASDAQ CG opened at $49.12 on Monday. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 1.67. The Carlyle Group has a 12-month low of $23.48 and a 12-month high of $51.55. The stock has a market capitalization of $17.41 billion, a price-to-earnings ratio of 6.80 and a beta of 1.38. The firm’s 50-day moving average price is $47.93 and its 200-day moving average price is $43.53.
In other news, major shareholder Carlyle Group Management L.L.C sold 70,193 shares of The Carlyle Group stock in a transaction dated Wednesday, June 30th. The shares were sold at an average price of $52.44, for a total value of $3,680,920.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Bruce M. Larson sold 860 shares of The Carlyle Group stock in a transaction dated Monday, August 2nd. The shares were sold at an average price of $48.80, for a total transaction of $41,968.00. The disclosure for this sale can be found here. Insiders sold 11,133,101 shares of company stock valued at $543,529,613 in the last ninety days. 36.30% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of CG. Zions Bancorporation N.A. purchased a new position in The Carlyle Group during the first quarter worth about $33,000. Canada Pension Plan Investment Board purchased a new stake in shares of The Carlyle Group in the 2nd quarter valued at approximately $44,000. Fifth Third Bancorp raised its stake in shares of The Carlyle Group by 28.6% in the 1st quarter. Fifth Third Bancorp now owns 2,244 shares of the financial services provider’s stock valued at $82,000 after acquiring an additional 499 shares during the period. Harvest Fund Management Co. Ltd raised its stake in shares of The Carlyle Group by 297.1% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 2,315 shares of the financial services provider’s stock valued at $85,000 after acquiring an additional 1,732 shares during the period. Finally, Wagner Wealth Management LLC purchased a new stake in The Carlyle Group during the 1st quarter worth approximately $106,000. Hedge funds and other institutional investors own 39.48% of the company’s stock.
About The Carlyle Group
The Carlyle Group, Inc engages in a multi-product global alternative asset management. It operates though the following segments: Corporate Private Equity, Real Assets, Global Credit, and Investment Solutions. The Corporate Private Equity segment focuses on buyout, and growth capital funds, which pursue a variety of corporate investments of different sizes and growth potentials.
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