TD Cowen Cuts Carlyle Group (NASDAQ:CG) Price Target to $76.00

Carlyle Group (NASDAQ:CG) had its price target cut by TD Cowen from $77.00 to $76.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Several other equities analysts also recently commented on the stock. Wall Street Zen downgraded shares of Carlyle Group from a “hold” rating to a “sell” rating in a research note on Sunday, January 11th. Citigroup lowered their price target on Carlyle Group from $74.00 to $71.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. JPMorgan Chase & Co. dropped their price objective on Carlyle Group from $68.00 to $66.00 and set a “neutral” rating for the company in a report on Monday, November 3rd. Cowen reissued a “buy” rating on shares of Carlyle Group in a research note on Wednesday. Finally, BMO Capital Markets initiated coverage on Carlyle Group in a research note on Friday, October 3rd. They issued an “outperform” rating and a $74.00 price target for the company. Eight investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Carlyle Group currently has an average rating of “Hold” and an average price target of $67.08.

Carlyle Group Price Performance

Shares of Carlyle Group stock opened at $65.62 on Wednesday. The company has a debt-to-equity ratio of 1.78, a current ratio of 2.49 and a quick ratio of 2.49. Carlyle Group has a one year low of $33.02 and a one year high of $69.85. The business’s 50 day simple moving average is $58.21 and its two-hundred day simple moving average is $60.01. The stock has a market capitalization of $23.65 billion, a P/E ratio of 36.66, a price-to-earnings-growth ratio of 1.16 and a beta of 2.04.

Carlyle Group (NASDAQ:CG) last issued its earnings results on Friday, November 7th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.98. Carlyle Group had a net margin of 16.91% and a return on equity of 23.46%. The firm had revenue of $782.50 million for the quarter, compared to analysts’ expectations of $848.51 million. During the same quarter last year, the business earned $0.95 earnings per share. Analysts forecast that Carlyle Group will post 4.48 EPS for the current year.

Carlyle Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Monday, November 10th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, November 10th. Carlyle Group’s payout ratio is presently 78.21%.

Insiders Place Their Bets

In other Carlyle Group news, Director David M. Rubenstein sold 625,000 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $56.55, for a total transaction of $35,343,750.00. Following the completion of the sale, the director owned 27,999,644 shares of the company’s stock, valued at $1,583,379,868.20. This trade represents a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 26.30% of the company’s stock.

Institutional Investors Weigh In On Carlyle Group

Institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC boosted its position in shares of Carlyle Group by 18.2% during the second quarter. Farther Finance Advisors LLC now owns 1,150 shares of the financial services provider’s stock valued at $59,000 after buying an additional 177 shares during the last quarter. Wedmont Private Capital boosted its holdings in shares of Carlyle Group by 3.5% during the 2nd quarter. Wedmont Private Capital now owns 5,831 shares of the financial services provider’s stock valued at $332,000 after acquiring an additional 196 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of Carlyle Group by 6.0% during the third quarter. Larson Financial Group LLC now owns 3,483 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 196 shares during the last quarter. DMC Group LLC lifted its holdings in shares of Carlyle Group by 3.2% during the 3rd quarter. DMC Group LLC now owns 6,594 shares of the financial services provider’s stock valued at $413,000 after buying an additional 205 shares during the period. Finally, Verdence Capital Advisors LLC boosted its stake in shares of Carlyle Group by 1.8% in the 2nd quarter. Verdence Capital Advisors LLC now owns 11,673 shares of the financial services provider’s stock worth $600,000 after buying an additional 212 shares during the last quarter. 55.88% of the stock is owned by hedge funds and other institutional investors.

Carlyle Group Company Profile

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager that invests across a range of strategies including private equity, real assets (such as real estate and infrastructure), global credit, and investment solutions. Founded in 1987 and headquartered in Washington, DC, Carlyle raises and manages investment funds that acquire, operate and exit companies and assets on behalf of institutional and private investors. The firm is publicly traded on the Nasdaq exchange and operates as an asset manager and investment advisor rather than as an operating company.

Carlyle’s core activities include sourcing and executing private equity buyouts and growth investments, originating and managing credit and financing solutions, and acquiring and operating real asset portfolios.