Carlyle Group (NASDAQ:CG) Stock Gets Price Target Cut from Piper Sandler

Carlyle Group (NASDAQ:CG) had its price objective reduced by equities research analysts at Piper Sandler from $54.00 to $48.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price objective indicates a potential upside of 31.38% from the stock’s previous close.

A number of other analysts also recently issued reports on the stock. Morgan Stanley set a $51.00 price target on shares of Carlyle Group in a report on Friday. Keefe, Bruyette & Woods lifted their price objective on shares of Carlyle Group from $47.00 to $50.00 and gave the company a “market perform” rating in a report on Thursday, August 6th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $52.00 price objective on shares of Carlyle Group in a report on Monday, July 13th. Citigroup reiterated an “outperform” rating on shares of Carlyle Group in a research report on Thursday, August 6th. Finally, Citizens Jmp increased their target price on shares of Carlyle Group from $70.00 to $73.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 6th. Eight analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Carlyle Group currently has an average rating of “Hold” and a consensus target price of $54.60.

Carlyle Group Stock Performance

NASDAQ:CG traded up $0.15 during trading hours on Monday, reaching $36.53. The company had a trading volume of 301,018 shares, compared to its average volume of 3,413,777. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.35 and a quick ratio of 2.35. Carlyle Group has a 1-year low of $35.41 and a 1-year high of $67.30. The business’s 50 day moving average price is $43.47 and its 200-day moving average price is $45.40. The firm has a market cap of $13.02 billion, a PE ratio of 38.01, a price-to-earnings-growth ratio of 1.06 and a beta of 1.88.

Carlyle Group (NASDAQ:CG) last issued its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.16. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $923.50 million. Carlyle Group had a net margin of 10.08% and a return on equity of 22.52%. The business’s revenue was down 28.6% on a year-over-year basis. During the same quarter last year, the company earned $0.87 EPS. Research analysts forecast that Carlyle Group will post 3.58 EPS for the current year.

Insider Buying and Selling at Carlyle Group

In other news, Director David Rubenstein sold 400,000 shares of the stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $42.74, for a total transaction of $17,096,000.00. Following the transaction, the director owned 26,899,644 shares in the company, valued at $1,149,690,784.56. This trade represents a 1.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 25.40% of the stock is currently owned by insiders.

Institutional Trading of Carlyle Group

Large investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Carlyle Group in the second quarter worth about $1,346,848,000. William Blair Investment Management LLC acquired a new position in Carlyle Group during the second quarter worth about $249,077,000. Legal & General Group Plc acquired a new position in Carlyle Group during the second quarter worth about $162,984,000. Amundi grew its stake in Carlyle Group by 419.0% during the 2nd quarter. Amundi now owns 3,406,001 shares of the financial services provider’s stock valued at $143,427,000 after acquiring an additional 2,749,781 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Carlyle Group during the 2nd quarter valued at about $84,540,000. 55.88% of the stock is currently owned by hedge funds and other institutional investors.

About Carlyle Group

The Carlyle Group Inc is a global investment firm that manages alternative assets for institutional investors, private wealth clients and other investors. The company invests across a range of strategies, including private equity, global credit and investment solutions.

Carlyle’s investment activities include corporate buyouts, growth capital, real estate-related investments, private lending and other credit strategies. Through its investment platforms, the firm provides capital to companies and seeks to support business growth, operational improvement and long-term value creation across a variety of industries.

Founded in 1987, Carlyle is headquartered in Washington, DC, and serves clients and investment opportunities across North America, Europe, Asia-Pacific and other international markets.