Zacks Investment Research Lowers The Carlyle Group L.P. (CG) to Hold

Zacks Investment Research cut shares of The Carlyle Group L.P. (NASDAQ:CG) from a buy rating to a hold rating in a research report report published on Monday, July 24th.

According to Zacks, “The Carlyle Group is a global alternative asset manager. The Company invests across four segments: Corporate Private Equity, Real Assets, Global Market Strategies and Fund of Funds Solutions in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Its Corporate Private Equity segment advises the Company’s buyout and growth capital funds. The Real Assets segment advises the Company’s United States and internationally-focused real estate and infrastructure funds, energy and renewable resources funds. Its Global Market Strategies segment advises a group of funds that pursue investment opportunities across various types of credit, equities and alternative instruments and currencies, commodities and interest rate products and their derivatives. Its Fund of Funds Solutions segment advises a global private equity fund of funds program and related co-investment and secondary activities. The Carlyle Group is based in Washington, District of Columbia. “

A number of other equities research analysts have also recently commented on the company. Credit Suisse Group reissued a hold rating and set a $20.00 price target on shares of The Carlyle Group L.P. in a report on Thursday, April 6th. Oppenheimer Holdings, Inc. raised their price target on The Carlyle Group L.P. from $28.00 to $29.00 and gave the company an outperform rating in a report on Friday, July 14th. Bank of America Corporation raised The Carlyle Group L.P. from a neutral rating to a buy rating in a report on Thursday, June 8th. Keefe, Bruyette & Woods raised The Carlyle Group L.P. from a market perform rating to an outperform rating and raised their price target for the company from $17.50 to $20.00 in a report on Thursday, May 4th. Finally, Morgan Stanley reissued an overweight rating and set a $21.00 price target (up from $20.00) on shares of The Carlyle Group L.P. in a report on Monday, July 10th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $22.78.

The Carlyle Group L.P. (NASDAQ CG) opened at 20.95 on Monday. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 49.06 and a beta of 1.83. The firm has a 50-day moving average price of $20.62 and a 200-day moving average price of $17.92. The Carlyle Group L.P. has a 52 week low of $14.35 and a 52 week high of $22.13.

The Carlyle Group L.P. (NASDAQ:CG) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $0.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.37. The company had revenue of $908.40 million for the quarter, compared to the consensus estimate of $696.36 million. The Carlyle Group L.P. had a return on equity of 41.32% and a net margin of 4.13%. During the same period in the previous year, the business earned $0.35 earnings per share. Analysts anticipate that The Carlyle Group L.P. will post $2.81 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Monday, August 14th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 8.00%. This is a boost from The Carlyle Group L.P.’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Thursday, August 10th. The Carlyle Group L.P.’s payout ratio is 128.24%.

In related news, CFO Curtis L. Buser sold 20,968 shares of The Carlyle Group L.P. stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $21.25, for a total value of $445,570.00. Following the completion of the transaction, the chief financial officer now owns 354,610 shares in the company, valued at $7,535,462.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Edward J. Mathias sold 6,593 shares of The Carlyle Group L.P. stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $21.25, for a total value of $140,101.25. Following the completion of the transaction, the director now owns 34,114 shares of the company’s stock, valued at approximately $724,922.50. The disclosure for this sale can be found here. Insiders sold 62,013 shares of company stock worth $1,317,776 over the last ninety days.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. raised its position in shares of The Carlyle Group L.P. by 2,205.9% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,096 shares of the financial services provider’s stock valued at $101,000 after buying an additional 4,875 shares during the period. Penserra Capital Management LLC raised its position in shares of The Carlyle Group L.P. by 8.7% in the second quarter. Penserra Capital Management LLC now owns 5,254 shares of the financial services provider’s stock valued at $103,000 after buying an additional 419 shares during the period. Loeb Partners Corp acquired a new position in shares of The Carlyle Group L.P. during the first quarter valued at about $159,000. Cambridge Investment Research Advisors Inc. raised its position in shares of The Carlyle Group L.P. by 1.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,241 shares of the financial services provider’s stock valued at $163,000 after buying an additional 144 shares during the period. Finally, First Manhattan Co. raised its position in shares of The Carlyle Group L.P. by 6.9% in the first quarter. First Manhattan Co. now owns 10,830 shares of the financial services provider’s stock valued at $168,000 after buying an additional 700 shares during the period. Institutional investors own 42.79% of the company’s stock.

About The Carlyle Group L.P.

The Carlyle Group L.P. is a diversified multi-product global alternative asset management firm. The Company operates in four segments: Corporate Private Equity (CPE), Real Assets, Global Market Strategies (GMS) and Investment Solutions. Corporate Private Equity advises its buyout and growth capital funds, which pursue various corporate investments of different sizes and growth potentials.

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