Morgan Stanley Raises The Carlyle Group (CG) Price Target to $31.00
The Carlyle Group (NASDAQ:CG) had its price target raised by Morgan Stanley from $30.00 to $31.00 in a report issued on Tuesday, Marketbeat.com reports. The firm currently has an overweight rating on the financial services provider’s stock.
CG has been the topic of a number of other reports. Oppenheimer set a $35.00 target price on shares of The Carlyle Group and gave the stock a buy rating in a research note on Wednesday, August 1st. BidaskClub upgraded shares of The Carlyle Group from a hold rating to a buy rating in a research note on Saturday, July 7th. Zacks Investment Research upgraded shares of The Carlyle Group from a hold rating to a buy rating and set a $24.00 target price on the stock in a research note on Tuesday, July 3rd. Citigroup upped their target price on shares of The Carlyle Group from $28.50 to $29.00 and gave the stock a buy rating in a research note on Wednesday, May 2nd. Finally, TheStreet downgraded shares of The Carlyle Group from a b rating to a c rating in a research note on Tuesday, May 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. The Carlyle Group presently has a consensus rating of Buy and a consensus target price of $28.80.
Shares of NASDAQ:CG opened at $23.35 on Tuesday. The stock has a market cap of $2.39 billion, a P/E ratio of 6.73 and a beta of 1.80. The Carlyle Group has a 12 month low of $19.50 and a 12 month high of $25.90. The company has a debt-to-equity ratio of 2.35, a quick ratio of 0.59 and a current ratio of 0.71.
The business also recently announced a quarterly dividend, which was paid on Friday, August 17th. Shareholders of record on Monday, August 13th were paid a $0.22 dividend. The ex-dividend date was Friday, August 10th. This represents a $0.88 dividend on an annualized basis and a yield of 3.77%. The Carlyle Group’s dividend payout ratio is currently 25.36%.
In other news, insider Pamela L. Bentley sold 14,179 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $24.30, for a total value of $344,549.70. Following the completion of the sale, the insider now owns 136,585 shares of the company’s stock, valued at approximately $3,319,015.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Carlyle Group Management L.L.C sold 2,250,000 shares of the company’s stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $111.91, for a total transaction of $251,797,500.00. The disclosure for this sale can be found here. Insiders sold a total of 2,329,197 shares of company stock worth $253,721,987 over the last 90 days.
Institutional investors and hedge funds have recently made changes to their positions in the company. IFP Advisors Inc lifted its position in shares of The Carlyle Group by 305.7% in the 1st quarter. IFP Advisors Inc now owns 4,986 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 3,757 shares during the period. Tuttle Tactical Management purchased a new stake in shares of The Carlyle Group in the 2nd quarter worth approximately $107,000. Synovus Financial Corp purchased a new stake in shares of The Carlyle Group in the 1st quarter worth approximately $129,000. North Star Investment Management Corp. purchased a new stake in shares of The Carlyle Group in the 2nd quarter worth approximately $145,000. Finally, AdvisorNet Financial Inc purchased a new stake in shares of The Carlyle Group in the 1st quarter worth approximately $173,000. 41.49% of the stock is owned by hedge funds and other institutional investors.
About The Carlyle Group
The Carlyle Group LP is an investment firm specializing in direct and fund of fund investments in Fintech sector. 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.
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