The Carlyle Group (NASDAQ:CG) Reaches New 52-Week High – Here’s Why

The Carlyle Group Inc. (NASDAQ:CG) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $54.74 and last traded at $54.35, with a volume of 71232 shares trading hands. The stock had previously closed at $53.65.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CG. Keefe, Bruyette & Woods raised their price objective on shares of The Carlyle Group from $51.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, November 8th. Morgan Stanley upped their price target on The Carlyle Group from $46.00 to $50.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of The Carlyle Group from $55.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. JPMorgan Chase & Co. increased their price objective on shares of The Carlyle Group from $44.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Redburn Atlantic started coverage on The Carlyle Group in a report on Tuesday, August 27th. They set a “buy” rating and a $55.00 target price for the company. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, The Carlyle Group presently has an average rating of “Hold” and a consensus target price of $53.33.

The Carlyle Group Stock Down 1.6 %

The firm has a market capitalization of $19.14 billion, a price-to-earnings ratio of 184.55, a PEG ratio of 1.42 and a beta of 1.70. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 1.38. The stock has a fifty day moving average of $48.57 and a 200-day moving average of $44.12.

The Carlyle Group (NASDAQ:CG) last posted its quarterly earnings data 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 company had revenue of $895.00 million during the quarter, compared to analyst estimates of $908.17 million. The Carlyle Group had a net margin of 2.21% and a return on equity of 24.91%. The business’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.87 earnings per share. As a group, sell-side analysts expect that The Carlyle Group Inc. will post 3.77 EPS for the current year.

The Carlyle Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.62%. The ex-dividend date was Monday, November 18th. The Carlyle Group’s dividend payout ratio (DPR) is currently 482.76%.

Insider Activity

In related news, Director Daniel A. D’aniello sold 495,542 shares of The Carlyle Group stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $51.53, for a total transaction of $25,535,279.26. Following the completion of the sale, the director now owns 32,504,102 shares of the company’s stock, valued at approximately $1,674,936,376.06. This trade represents a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Carlyle Group Inc. sold 133,643 shares of The Carlyle Group stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $2.51, for a total value of $335,443.93. Following the sale, the insider now owns 4,767,697 shares of the company’s stock, valued at approximately $11,966,919.47. This represents a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,171,556 shares of company stock worth $29,222,475. 27.20% of the stock is owned by corporate insiders.

Institutional Trading of The Carlyle Group

Large investors have recently added to or reduced their stakes in the business. Tidal Investments LLC bought a new position in shares of The Carlyle Group in the 3rd quarter valued at approximately $212,000. Toronto Dominion Bank boosted its holdings in The Carlyle Group by 15.0% during the third quarter. Toronto Dominion Bank now owns 57,801 shares of the financial services provider’s stock valued at $2,489,000 after acquiring an additional 7,533 shares during the period. Empire Financial Management Company LLC bought a new position in shares of The Carlyle Group in the third quarter worth about $818,000. MML Investors Services LLC lifted its position in shares of The Carlyle Group by 11.0% during the 3rd quarter. MML Investors Services LLC now owns 17,085 shares of the financial services provider’s stock worth $736,000 after purchasing an additional 1,688 shares during the last quarter. Finally, XTX Topco Ltd grew its holdings in The Carlyle Group by 54.2% in the 3rd quarter. XTX Topco Ltd now owns 36,408 shares of the financial services provider’s stock valued at $1,568,000 after buying an additional 12,801 shares during the last quarter. 55.88% of the stock is owned by institutional investors.

The Carlyle Group Company Profile

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.