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Investing.com - Keefe, Bruyette & Woods raised its price target on The Carlyle Group LP (NASDAQ:CG) to $66.00 from $60.00 on Thursday, while maintaining a Market Perform rating on the stock.
The price target increase follows what the research firm described as a "strong overall quarter" for the private equity firm, with distributable earnings exceeding KBW’s estimate by $0.05 and consensus by $0.03.
The earnings beat was attributed to higher fee-related earnings (+$0.05), net performance fees (+$0.05), and realized investment income (+$0.02), partially offset by a higher tax rate (-$0.06) and share count (-$0.01).
Carlyle reported fundraising of $13.4 billion, which came in above expectations, while fee-paying assets under management were in line with KBW’s estimates.
KBW has raised its 2025 and 2027 estimates for Carlyle primarily based on stronger fee revenues and higher fee-related earnings margin, while slightly lowering its 2026 estimate due to a higher than expected share count.
In other recent news, Carlyle Group reported record fee-related earnings and assets under management in the second quarter of 2025, showcasing strong financial performance. The firm’s fee-related earnings reached $323 million, marking an 18% increase compared to the previous year. Additionally, Carlyle’s assets under management hit a record $465 billion. Following these results, TD Cowen raised its price target for Carlyle Group to $80, maintaining a Buy rating on the stock. The investment firm noted that the second-quarter results represented a favorable narrative shift for Carlyle Group, likely leading to further expansion relative to peers.
Meanwhile, Centerra Gold announced a quarterly dividend of C$0.07 per common share, totaling approximately C$14.3 million or US$10.5 million. The dividend will be payable on September 4, 2025, to shareholders of record as of August 21, 2025. Centerra Gold specified that the dividend qualifies as an eligible dividend for Canadian income tax purposes. These developments provide investors with key insights into the current financial activities and outlooks for Carlyle Group and Centerra Gold.
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