Carlyle Group (NASDAQ:CG) Price Target Cut to $67.00 by Analysts at Barclays
by Jessica Moore · The Cerbat GemCarlyle Group (NASDAQ:CG – Get Free Report) had its target price cut by equities researchers at Barclays from $68.00 to $67.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective suggests a potential upside of 38.19% from the company’s current price.
Other equities analysts have also issued reports about the stock. TD Cowen boosted their price target on shares of Carlyle Group from $65.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Wolfe Research restated an “outperform” rating on shares of Carlyle Group in a research report on Wednesday, January 7th. Royal Bank Of Canada began coverage on shares of Carlyle Group in a research report on Monday, February 23rd. They issued an “outperform” rating and a $67.00 price target on the stock. UBS Group reduced their price target on shares of Carlyle Group from $81.00 to $65.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Carlyle Group from $66.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. Nine investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $66.43.
Read Our Latest Stock Analysis on CG
Carlyle Group Price Performance
NASDAQ:CG traded up $1.49 during mid-day trading on Wednesday, hitting $48.49. The company’s stock had a trading volume of 1,557,386 shares, compared to its average volume of 3,162,942. The company has a market capitalization of $17.51 billion, a price-to-earnings ratio of 22.22, a P/E/G ratio of 0.89 and a beta of 2.05. Carlyle Group has a fifty-two week low of $33.59 and a fifty-two week high of $69.85. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 1.90. The stock has a fifty day moving average of $51.41 and a 200-day moving average of $56.21.
Carlyle Group (NASDAQ:CG – Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.03). The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.09 billion. Carlyle Group had a net margin of 16.92% and a return on equity of 23.62%. Carlyle Group’s quarterly revenue was up 84.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.92 earnings per share. As a group, equities analysts forecast that Carlyle Group will post 4.48 EPS for the current fiscal year.
Insider Activity at Carlyle Group
In other news, Director David M. Rubenstein sold 500,000 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $46.68, for a total transaction of $23,340,000.00. Following the sale, the director directly owned 27,399,644 shares of the company’s stock, valued at $1,279,015,381.92. This represents a 1.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 26.30% of the stock is owned by company insiders.
Institutional Trading of Carlyle Group
Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Carlyle Group by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 26,368,246 shares of the financial services provider’s stock valued at $1,558,627,000 after buying an additional 934,237 shares during the period. Morgan Stanley lifted its holdings in Carlyle Group by 0.8% in the fourth quarter. Morgan Stanley now owns 10,189,948 shares of the financial services provider’s stock valued at $602,328,000 after buying an additional 84,228 shares during the period. State Street Corp lifted its holdings in Carlyle Group by 20.9% in the third quarter. State Street Corp now owns 9,942,135 shares of the financial services provider’s stock valued at $623,372,000 after buying an additional 1,720,483 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Carlyle Group by 1.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,735,298 shares of the financial services provider’s stock valued at $457,233,000 after buying an additional 117,223 shares during the period. Finally, Alkeon Capital Management LLC lifted its holdings in Carlyle Group by 13.4% in the second quarter. Alkeon Capital Management LLC now owns 5,941,316 shares of the financial services provider’s stock valued at $305,384,000 after buying an additional 700,000 shares during the period. 55.88% of the stock is owned by institutional investors.
About Carlyle Group
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.