The Carlyle Group (NASDAQ: CG) has been upgraded to a “strong-buy” rating by analysts at UBS Group, as reported on November 7, 2023. This upgrade reflects increased confidence in the company’s future performance amid a competitive financial landscape. The stock has attracted attention from various equities research analysts, contributing to a more optimistic outlook for investors.
In a recent report, JMP Securities raised their price target for Carlyle Group from $70.00 to $75.00, while maintaining a “market outperform” rating. Jefferies Financial Group also adjusted its price target from $54.00 to $66.00, citing a “hold” rating. Additionally, Citigroup lowered its price target from $74.00 to $71.00, yet still assigned a “buy” rating. Weiss Ratings reaffirmed a “hold (c)” rating on October 8, 2023, and TD Cowen adjusted its price objective down slightly from $78.00 to $77.00 while maintaining a “buy” rating.
The current consensus rating for Carlyle Group stands at “Hold,” with a target price averaging $66.14, according to data from MarketBeat.com. Analysts have varied perspectives, with one rating the stock as a strong buy, seven assigning a buy rating, eight issuing hold ratings, and one giving it a sell rating.
Recent Earnings and Insider Activity
Carlyle Group’s most recent earnings report, released on November 7, 2023, revealed earnings per share (EPS) of $0.98, aligning with analyst expectations. The company reported revenues of $782.5 million, falling short of predictions that estimated $848.51 million. With a return on equity of 23.46% and a net margin of 16.91%, the firm demonstrated solid financial performance, although it showed a slight increase in EPS from $0.95 during the same period last year.
In a significant insider transaction, Director David M. Rubenstein sold 625,000 shares of Carlyle Group on December 10, 2023, at an average price of $56.55. The total transaction value was approximately $35.34 million. Following this sale, Rubenstein holds 27,999,644 shares, valued at around $1.58 billion. Insider ownership currently stands at 26.30% of the company’s stock.
Institutional Investment Trends
Recent trading activities indicate that institutional investors are actively buying and selling shares of Carlyle Group. Notably, IFP Advisors Inc increased its position by 291.9% in the third quarter, now holding 2,665 shares valued at approximately $167,000. Swiss Life Asset Management Ltd also boosted its stake by 162.3%, acquiring an additional 74,190 shares, bringing its total to 119,907 shares worth about $7.52 million.
Additionally, JPMorgan Chase & Co. raised its stake by 6.8%, now owning 1,130,875 shares valued at approximately $70.91 million. CIBC Private Wealth Group LLC increased its holdings by 87.8%, while CIBC Bancorp USA Inc. entered a new position valued at around $528,000.
Overall, approximately 55.88% of Carlyle Group’s stock is owned by hedge funds and other institutional investors, reflecting significant interest from major financial entities. As the market continues to evolve, analysts and investors alike will be closely monitoring Carlyle Group’s performance and strategic decisions in the coming months.
