TD Cowen Forecasts Strong Price Appreciation for The Carlyle Group (NASDAQ:CG) Stock

The Carlyle Group (NASDAQ:CG) had its price target increased by investment analysts at TD Cowen from $43.00 to $49.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. TD Cowen’s price target points to a potential downside of 6.36% from the stock’s current price.

CG has been the subject of several other reports. Oppenheimer boosted their price target on The Carlyle Group from $64.00 to $78.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. JMP Securities reaffirmed a “market outperform” rating and set a $60.00 price objective on shares of The Carlyle Group in a research note on Wednesday, October 9th. Redburn Atlantic began coverage on shares of The Carlyle Group in a research note on Tuesday, August 27th. They set a “buy” rating and a $55.00 price objective for the company. Evercore ISI boosted their price target on The Carlyle Group from $45.00 to $47.00 and gave the company an “in-line” rating in a research report on Monday, October 14th. Finally, Wells Fargo & Company raised their price objective on The Carlyle Group from $42.00 to $48.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $52.87.

The Carlyle Group Trading Down 0.0 %

NASDAQ:CG opened at $52.33 on Friday. The Carlyle Group has a 52-week low of $29.29 and a 52-week high of $54.52. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 1.75. The stock has a fifty day simple moving average of $45.62 and a 200-day simple moving average of $43.44. The company has a market capitalization of $18.65 billion, a PE ratio of -46.72, a price-to-earnings-growth ratio of 1.38 and a beta of 1.70.

The Carlyle Group (NASDAQ:CG) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.08. The Carlyle Group had a negative net margin of 11.67% and a positive return on equity of 24.30%. The company had revenue of $895.00 million for the quarter, compared to the consensus estimate of $908.17 million. During the same quarter in the prior year, the firm earned $0.87 earnings per share. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. On average, equities research analysts expect that The Carlyle Group will post 3.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other The Carlyle Group news, major shareholder Carlyle Group Inc. sold 924,466 shares of the stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $2.14, for a total transaction of $1,978,357.24. Following the transaction, the insider now directly owns 3,643,231 shares in the company, valued at $7,796,514.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 1,676,014 shares of company stock worth $3,687,196 in the last three months. 27.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Tobam acquired a new stake in The Carlyle Group during the second quarter worth about $27,000. Blue Trust Inc. lifted its holdings in shares of The Carlyle Group by 506.3% in the 2nd quarter. Blue Trust Inc. now owns 770 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 643 shares during the last quarter. Rothschild Investment LLC bought a new position in The Carlyle Group during the 2nd quarter worth $50,000. 1832 Asset Management L.P. acquired a new stake in The Carlyle Group in the first quarter worth $55,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of The Carlyle Group by 1,600.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,700 shares of the financial services provider’s stock valued at $73,000 after acquiring an additional 1,600 shares during the period. Institutional investors and hedge funds own 55.88% of the company’s stock.

About The Carlyle Group

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.