On September 1, 2023, it was reported that financial services provider The Carlyle Group Inc. (NASDAQ:CG) had gained a new position with Bokf Na. The company acquired 45,388 shares of CG’s stock, valued at approximately $1,410,000. This development was revealed in the company’s recent Form 13F filing with the Securities & Exchange Commission.
The Carlyle Group has been subject to analysis by several analysts in recent times. Morgan Stanley raised their price target on CG shares from $34.00 to $35.00 and assigned the company an “equal weight” rating in a research note on August 3rd. Citigroup also began coverage of The Carlyle Group in May and issued a “buy” rating with a $40.00 price target for the company. However, Deutsche Bank Aktiengesellschaft reduced their price objective on CG shares from $41.00 to $39.00 in May, while Barclays lowered theirs from $38.00 to $37.00 and labeled the stock as “overweight” in August. Additionally, BMO Capital Markets decreased their price objective from $44.00 to $37.00 in May.
Currently, out of the fifteen research analysts who have evaluated the stock, two give it a sell rating, three assign it a hold rating, and ten have given it a buy rating. According to data sourced from Bloomberg.com, The Carlyle Group has a consensus rating of “Moderate Buy” and an average target price of $40.36.
As of Friday’s opening share price of $32.35, The Carlyle Group has a market cap of $11.64 billion and trades with a P/E ratio of 28.63 and a beta of 1.68%. Furthermore, its fifty-two week low stands at $24.59 while its high is marked at$38.32. The company maintains a debt-to-equity ratio of 1.32, a quick ratio of 2.79, and a current ratio of 2.80.
These recent developments and the assessments provided by various analysts have shed light on the performance and potential of The Carlyle Group Inc., informing investors on its outlook within the financial services sector.
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Institutional Investors Increase Stakes in The Carlyle Group as Analysts Bullish on Stock Performance
The Carlyle Group, a global investment firm, has seen several institutional investors either increase or decrease their stakes in the company. PFG Investments LLC purchased a new stake in The Carlyle Group during the first quarter, amounting to approximately $278,000. Similarly, Western Pacific Wealth Management LP also bought a new stake in the company worth around $35,000.
FMR LLC, one of the largest institutional investors, raised its stake in The Carlyle Group by 43.3% during the first quarter. This move allowed FMR LLC to acquire an additional 582,824 shares and now owns a total of 1,928,817 shares valued at $59,909,000.
Cerity Partners LLC also increased its stake in The Carlyle Group by 32.3% during the first quarter. This acquisition brought Cerity Partners’ ownership to 66,252 shares valued at $2,051,000 after purchasing an additional 16,185 shares.
Additionally, American Century Companies Inc., another major shareholder of The Carlyle Group, raised its stake by 19.7% during the first quarter. With this increase in holdings by an additional 32,897 shares of stock valued at $6,196,000.
Overall, institutional investors now control 55.88% of The Carlyle Group’s stock.
In recent news related to The Carlyle Group’s stock transactions and insider trading activities; major shareholder Subsidiary Holdings L.L.C. Cg acquired 3,012,049 shares on August 28th for an average price of $8.30 per share—a total value of $25 million. Following this purchase transaction disclosed with the Securities & Exchange Commission (SEC), insider Subsidiary Holdings L.L.C Cg now holds a total of 3,012949 shares worth around $25 million.
On another note related to insider trading activities within the company, Chief Accounting Officer Charles Elliott Jr. Andrews sold 6,669 shares of The Carlyle Group’s stock on August 2nd for an average price of $32.36 per share—a total sale value of approximately $215,808. Following this transaction, Andrews now owns 84,745 shares worth approximately $2,742,348.
The disclosure for these recent insider transactions can be accessed through the provided links.
Furthermore, various analysts have expressed their opinion on The Carlyle Group’s stock (NASDAQ:CG). For instance, Morgan Stanley increased its price target from $34.00 to $35.00 and issued an “equal weight” rating. Citigroup initiated coverage with a “buy” rating and set a price objective of $40.00 for the company.
Deutsche Bank Aktiengesellschaft reduced its price target from $41.00 to $39.00 in another research note. Barclays also lowered its price target from $38.00 to $37.00 but maintained an “overweight” rating for The Carlyle Group.
Lastly, BMO Capital Markets also reduced its price target from $44.00 to $37.00 in their research note.
Overall consensus among analysts reveals that two analysts consider The Carlyle Group’s stock as a sell recommendation, three as a hold recommendation, and ten as a buy recommendation. Based on Bloomberg.com data, the consensus rating is labeled as “Moderate Buy,” with a consensus target price of approximately $40.36 per share.
In terms of earnings performance during the second quarter released on August 2nd; The Carlyle Group reported earnings per share of $0.88—outperforming analysts’ estimates by over 23 cents per share ($0.65 estimated). Additionally, the business generated revenue of about $977.90 million during this period compared to the consensus estimate of around $809 million.
The Carlyle Group’s net margin was recorded at 13.11% with a return on equity of 24.12%.
For the current fiscal year, equities analysts anticipate The Carlyle Group to achieve earnings per share of around $2.99.
Lastly, The Carlyle Group recently declared a quarterly dividend payment on August 23rd, scheduled to be paid to investors on this day. Shareholders who were recorded as of August 15th received a dividend of $0.35 per share. With an ex-dividend date set for August 14th, this quarterly dividend represents an annualized dividend yield of approximately 4.33%. The Carlyle Group’s current dividend payout ratio (DPR) stands at 123.89%.
In conclusion, The Carlyle Group has experienced changes in institutional investor stakes and insider trading activities while also receiving various analyst ratings and price targets for its stock performance. With positive second-quarter earnings results and the recent declaration of quarterly dividends, The Carlyle Group continues to navigate the financial services industry as it anticipates achieving strong earnings results for the fiscal year ahead.
