Wells Fargo & Company Begins Coverage on The Carlyle Group (NASDAQ:CG)

Wells Fargo & Company initiated coverage on shares of The Carlyle Group (NASDAQ:CG – Free Report) in a report issued on Thursday, MarketBeat.com reports. The brokerage issued an equal weight rating and a $42.00 price target on the financial services provider’s stock.

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Several other research analysts also recently commented on CG. Deutsche Bank Aktiengesellschaft cut their price target on shares of The Carlyle Group from $55.00 to $53.00 and set a buy rating for the company in a report on Thursday, August 15th. Keefe, Bruyette & Woods decreased their target price on The Carlyle Group from $48.00 to $46.00 and set a market perform rating on the stock in a research note on Tuesday, August 6th. TD Cowen lifted their price target on The Carlyle Group from $41.00 to $42.00 and gave the company a hold rating in a research report on Tuesday, August 6th. Barclays decreased their price objective on shares of The Carlyle Group from $51.00 to $46.00 and set an overweight rating on the stock in a research report on Tuesday, August 6th. Finally, Redburn Atlantic assumed coverage on shares of The Carlyle Group in a research report on Tuesday, August 27th. They set a buy rating and a $55.00 target price for the company. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $45.81.

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The Carlyle Group Stock Performance

Shares of CG stock traded up $1.02 on Thursday, hitting $38.77. 2,373,653 shares of the stock were exchanged, compared to its average volume of 2,276,851. The Carlyle Group has a one year low of $27.13 and a one year high of $50.92. The firm’s 50 day moving average is $41.86 and its two-hundred day moving average is $43.13. The firm has a market capitalization of $13.95 billion, a PE ratio of -21.66, a P/E/G ratio of 1.12 and a beta of 1.73. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 1.75.

The Carlyle Group (NASDAQ:CG – Get Free Report) last released its quarterly earnings data on Monday, August 5th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $808.73 million. The Carlyle Group had a negative net margin of 11.67% and a positive return on equity of 24.30%. The firm’s quarterly revenue was up 131.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 earnings per share. Sell-side analysts expect that The Carlyle Group will post 3.76 earnings per share for the current fiscal year.

The Carlyle Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were paid a $0.35 dividend. The ex-dividend date was Friday, August 16th. This represents a $1.40 annualized dividend and a yield of 3.61%. The Carlyle Group’s payout ratio is -78.21%.

Insider Transactions at The Carlyle Group

In other The Carlyle Group news, major shareholder Carlyle Group Inc. sold 78,180 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $39.94, for a total transaction of $3,122,509.20. Following the completion of the transaction, the insider now owns 8,441,022 shares of the company’s stock, valued at $337,134,418.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 2,197,296 shares of company stock valued at $80,115,160 in the last three months. 27.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On The Carlyle Group

Institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC purchased a new stake in shares of The Carlyle Group during the second quarter valued at $1,491,000. Truist Financial Corp boosted its holdings in shares of The Carlyle Group by 4.9% during the 2nd quarter. Truist Financial Corp now owns 37,041 shares of the financial services provider’s stock valued at $1,487,000 after acquiring an additional 1,716 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of The Carlyle Group by 148.5% in the second quarter. NewEdge Advisors LLC now owns 30,632 shares of the financial services provider’s stock worth $1,230,000 after acquiring an additional 18,304 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in The Carlyle Group by 5.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 54,545 shares of the financial services provider’s stock valued at $2,190,000 after purchasing an additional 2,633 shares during the period. Finally, Creative Planning boosted its holdings in The Carlyle Group by 10.3% in the second quarter. Creative Planning now owns 11,905 shares of the financial services provider’s stock worth $478,000 after purchasing an additional 1,111 shares during the last quarter. Hedge funds and other institutional investors own 55.88% of the company’s stock.

The Carlyle Group Company Profile

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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.

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