Carlyle Group (NASDAQ:CG) Hits New 52-Week Low – Here’s Why

Carlyle Group Inc. (NASDAQ:CG)’s stock price reached a new 52-week low during trading on Wednesday. The company traded as low as $38.70 and last traded at $37.8980, with a volume of 6599 shares traded. The stock had previously closed at $38.88.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CG shares. Keefe, Bruyette & Woods raised their target price on Carlyle Group from $47.00 to $50.00 and gave the company a “market perform” rating in a report on Thursday, August 6th. Wells Fargo & Company started coverage on Carlyle Group in a report on Friday, October 2nd. They issued an “equal weight” rating and a $43.00 target price for the company. Royal Bank Of Canada lowered their price objective on Carlyle Group from $58.00 to $48.00 and set a “sector perform” rating for the company in a research report on Monday. Citigroup reiterated an “outperform” rating on shares of Carlyle Group in a research note on Thursday, August 6th. Finally, Citizens Jmp lifted their price objective on shares of Carlyle Group from $70.00 to $73.00 and gave the stock a “market outperform” rating in a research report 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $57.33.

Carlyle Group Trading Down 2.6%

The business’s 50-day moving average is $45.14 and its two-hundred day moving average is $45.94. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 1.91. The stock has a market capitalization of $13.49 billion, a PE ratio of 39.30, a PEG ratio of 1.24 and a beta of 1.88.

Carlyle Group (NASDAQ:CG) last posted its earnings results on Tuesday, August 4th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.16. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $923.50 million. Carlyle Group had a return on equity of 22.52% and a net margin of 10.08%.The business’s quarterly revenue was down 28.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.87 EPS. On average, analysts anticipate that Carlyle Group Inc. will post 3.58 earnings per share for the current fiscal year.

Carlyle Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Monday, August 17th were given a dividend of $0.35 per share. The ex-dividend date was Monday, August 17th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.7%. Carlyle Group’s dividend payout ratio (DPR) is 145.83%.

Insiders Place Their Bets

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

Institutional Trading of Carlyle Group

Hedge funds have recently added to or reduced their stakes in the stock. Main Street Group LTD acquired a new position in shares of Carlyle Group in the first quarter valued at approximately $27,000. Allworth Financial LP purchased a new stake in shares of Carlyle Group in the second quarter valued at about $35,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Carlyle Group by 36.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 962 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 258 shares during the period. Western Wealth Management LLC purchased a new position in Carlyle Group during the first quarter worth about $52,000. Finally, GHP Investment Advisors Inc. acquired a new stake in Carlyle Group in the first quarter valued at about $57,000. 55.88% of the stock is owned by institutional investors and hedge funds.

Carlyle Group Company Profile

The Carlyle Group Inc is a global alternative asset management firm that invests across private equity, credit and investment solutions. The company manages funds and investment vehicles for institutional investors, private wealth clients and other investors, with strategies focused on private markets and long-term value creation.

Carlyle’s investment activities include corporate buyouts, growth capital, middle-market lending, structured credit, real assets and secondaries. Through its investment solutions business, the firm also provides access to private-market strategies and manages portfolios of private equity interests and other alternative investments.

Founded in 1987 by William E.