BidaskClub Lowers The Carlyle Group (NASDAQ:CG) to Hold

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BidaskClub downgraded shares of The Carlyle Group (NASDAQ:CG) from a buy rating to a hold rating in a research note issued to investors on Saturday morning, BidAskClub reports.

CG has been the subject of several other research reports. CIBC reiterated a hold rating and issued a $9.00 price target on shares of The Carlyle Group in a research report on Monday, April 8th. ValuEngine upgraded The Carlyle Group from a hold rating to a buy rating in a research report on Friday, May 3rd. TheStreet upgraded The Carlyle Group from a c rating to a b rating in a research report on Thursday, May 9th. Credit Suisse Group lowered The Carlyle Group from an outperform rating to a neutral rating and set a $22.00 target price for the company. in a research report on Tuesday, May 21st. Finally, Raymond James restated a buy rating and set a $10.00 target price on shares of The Carlyle Group in a research report on Monday, June 3rd. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $20.23.

CG opened at $22.49 on Friday. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of 24.95 and a beta of 1.67. The Carlyle Group has a 12 month low of $15.09 and a 12 month high of $25.99. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 1.96. The stock has a 50-day moving average of $23.35.

The Carlyle Group (NASDAQ:CG) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.21. The company had revenue of $550.70 million during the quarter, compared to analyst estimates of $496.69 million. The Carlyle Group had a return on equity of 6.07% and a net margin of 12.74%. The firm’s revenue was up 19.0% on a year-over-year basis. During the same quarter last year, the business posted $0.69 earnings per share. Analysts predict that The Carlyle Group will post 1.59 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Shareholders of record on Monday, August 12th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 7.65%. The ex-dividend date is Friday, August 9th. This is a positive change from The Carlyle Group’s previous quarterly dividend of $0.19. The Carlyle Group’s payout ratio is 28.90%.

In other news, COO Christopher Finn sold 55,138 shares of The Carlyle Group stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $22.85, for a total transaction of $1,259,903.30. Following the completion of the sale, the chief operating officer now owns 310,968 shares of the company’s stock, valued at $7,105,618.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Pamela L. Bentley sold 10,000 shares of The Carlyle Group stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $19.79, for a total transaction of $197,900.00. Following the sale, the insider now directly owns 146,962 shares of the company’s stock, valued at approximately $2,908,377.98. The disclosure for this sale can be found here. Insiders have sold 194,829 shares of company stock valued at $4,421,243 in the last 90 days.

Several institutional investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC raised its stake in The Carlyle Group by 1.4% in the second quarter. Janney Montgomery Scott LLC now owns 34,594 shares of the financial services provider’s stock worth $782,000 after buying an additional 470 shares in the last quarter. Augustine Asset Management Inc. raised its stake in The Carlyle Group by 0.8% in the second quarter. Augustine Asset Management Inc. now owns 68,571 shares of the financial services provider’s stock worth $1,550,000 after buying an additional 527 shares in the last quarter. Allen Investment Management LLC raised its stake in The Carlyle Group by 1.6% in the first quarter. Allen Investment Management LLC now owns 52,115 shares of the financial services provider’s stock worth $953,000 after buying an additional 843 shares in the last quarter. North Star Investment Management Corp. raised its stake in The Carlyle Group by 7.3% in the first quarter. North Star Investment Management Corp. now owns 13,200 shares of the financial services provider’s stock worth $241,000 after buying an additional 900 shares in the last quarter. Finally, CWM LLC bought a new position in The Carlyle Group in the second quarter worth approximately $30,000. 41.16% of the stock is owned by hedge funds and other institutional investors.

The Carlyle Group Company Profile

The Carlyle Group L.P. 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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Analyst Recommendations for The Carlyle Group (NASDAQ:CG)

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