Citigroup has revised its price target for the Carlyle Group (NASDAQ: CG) from $74.00 to $71.00, as detailed in a research report released on Monday. Despite this adjustment, Citigroup maintains a “buy” rating on the financial services firm’s stock. The change comes amid a broader evaluation of Carlyle Group by various analysts in the market.
In additional insights, Weiss Ratings reaffirmed a “hold (c)” rating on Carlyle Group shares on October 8, 2023. Meanwhile, Morgan Stanley increased its price target from $65.00 to $67.00, while assigning an “equal weight” rating in a report published on October 21, 2023. Jefferies Financial Group also adjusted its price target, raising it from $54.00 to $66.00, alongside a “hold” rating from a report dated August 13, 2023.
TD Cowen modified its price target from $78.00 to $77.00 but kept a “buy” rating. Additionally, BMO Capital Markets initiated coverage on Carlyle Group, setting an “outperform” rating and a price target of $74.00 in a report issued on October 3, 2023. Overall, the stock has been rated with seven “buy” ratings, eight “hold” ratings, and one “sell” rating from analysts. According to MarketBeat.com, Carlyle Group currently holds a consensus rating of “hold” with an average target price of $67.36.
Dividend Announcement and Trading Activity
Carlyle Group has recently declared a quarterly dividend of $0.35 per share, scheduled for payment on November 19, 2023. Investors recorded as of November 10, 2023 will receive this dividend, reflecting an annualized dividend of $1.40 and a yield of 2.7%. The ex-dividend date is set for November 10, 2023, marking a dividend payout ratio of 40.94%.
In related news, insider trading activity has been notable. General Counsel Jeffrey W. Ferguson sold 202,606 shares on August 12, 2023 at an average price of $64.23, resulting in a total transaction value of approximately $13.01 million. Following this sale, Ferguson retained 753,255 shares in the company, valued at approximately $48.38 million. This transaction represents a 21.20% decrease in his ownership stake, with the details disclosed in a filing with the SEC.
Institutional Investor Activity
Several institutional investors have recently adjusted their holdings in Carlyle Group. Farther Finance Advisors LLC increased its stake by 18.2% in the second quarter, now owning 1,150 shares worth $59,000. Wedmont Private Capital also expanded its position by 3.5%, holding 5,831 shares valued at $332,000 after acquiring an additional 196 shares.
Other notable changes include DMC Group LLC, which grew its stake by 3.2% in the third quarter, now owning 6,594 shares valued at $413,000. Verdence Capital Advisors LLC increased its holdings by 1.8%, bringing its total to 11,673 shares worth $600,000. B. Metzler seel. Sohn & Co. AG also raised its stake by 3.5%, now owning 6,365 shares valued at $277,000.
Collectively, institutional investors and hedge funds own approximately 55.88% of Carlyle Group’s stock. The company specializes in investment management, focusing on direct investments and fund of funds strategies, encompassing a range of sectors including leveraged buyouts, privatizations, and venture capital financing.
As market analysts continue to assess Carlyle Group’s performance, the adjustments in price targets and ratings reflect ongoing evaluations of the company’s financial outlook amid evolving market conditions.
