The Carlyle Group (NASDAQ:CG) Coverage Initiated at JMP Securities

Equities research analysts at JMP Securities began coverage on shares of The Carlyle Group (NASDAQ:CGGet Rating) in a report released on Wednesday, The Fly reports. The firm set an “outperform” rating on the financial services provider’s stock.

CG has been the subject of a number of other reports. Morgan Stanley reduced their price target on shares of The Carlyle Group from $59.00 to $54.00 and set an “equal weight” rating for the company in a report on Wednesday, April 20th. Oppenheimer increased their price target on shares of The Carlyle Group from $71.00 to $80.00 in a report on Wednesday, April 13th. StockNews.com downgraded shares of The Carlyle Group from a “hold” rating to a “sell” rating in a report on Wednesday, May 4th. The Goldman Sachs Group reduced their price objective on shares of The Carlyle Group from $66.00 to $56.00 and set a “buy” rating for the company in a report on Tuesday, March 29th. Finally, BMO Capital Markets reduced their price objective on shares of The Carlyle Group from $69.00 to $60.00 in a report on Friday, April 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, The Carlyle Group presently has a consensus rating of “Buy” and a consensus price target of $58.59.

NASDAQ:CG opened at $39.50 on Wednesday. The Carlyle Group has a 1 year low of $34.62 and a 1 year high of $60.62. The firm’s fifty day simple moving average is $40.28 and its 200 day simple moving average is $46.59. The company has a current ratio of 2.65, a quick ratio of 2.65 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $14.29 billion, a PE ratio of 5.37, a PEG ratio of 0.41 and a beta of 1.55.

The Carlyle Group (NASDAQ:CGGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The financial services provider reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.24). The Carlyle Group had a net margin of 33.77% and a return on equity of 41.54%. The company had revenue of $779.50 million during the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the company earned $0.58 earnings per share. The Carlyle Group’s revenue for the quarter was up 27.3% on a year-over-year basis. As a group, analysts anticipate that The Carlyle Group will post 4.15 EPS for the current fiscal year.

In related news, major shareholder Carlyle Group Inc. sold 8,546 shares of The Carlyle Group stock in a transaction on Thursday, April 7th. The stock was sold at an average price of $57.23, for a total transaction of $489,087.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David M. Rubenstein sold 2,000,000 shares of the stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $38.67, for a total value of $77,340,000.00. Following the completion of the transaction, the director now directly owns 29,249,644 shares in the company, valued at approximately $1,131,083,733.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,093,969 shares of company stock valued at $82,709,291. Corporate insiders own 29.80% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in The Carlyle Group by 3.7% during the first quarter. Vanguard Group Inc. now owns 19,624,219 shares of the financial services provider’s stock worth $959,820,000 after purchasing an additional 703,271 shares during the period. Capital World Investors lifted its stake in The Carlyle Group by 3.2% in the 3rd quarter. Capital World Investors now owns 19,318,159 shares of the financial services provider’s stock valued at $913,363,000 after purchasing an additional 601,110 shares during the last quarter. Morgan Stanley grew its position in The Carlyle Group by 6.4% during the 3rd quarter. Morgan Stanley now owns 17,047,259 shares of the financial services provider’s stock worth $805,993,000 after acquiring an additional 1,019,096 shares during the last quarter. BlackRock Inc. raised its holdings in The Carlyle Group by 7.2% in the 1st quarter. BlackRock Inc. now owns 15,257,115 shares of the financial services provider’s stock valued at $746,227,000 after buying an additional 1,020,504 shares during the last quarter. Finally, State Street Corp grew its stake in shares of The Carlyle Group by 2.3% in the first quarter. State Street Corp now owns 4,082,247 shares of the financial services provider’s stock worth $199,663,000 after purchasing an additional 89,982 shares during the last quarter. Institutional investors own 93.84% of the company’s stock.

The Carlyle Group Company Profile (Get Rating)

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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