Barclays Cuts Carlyle Group (NASDAQ:CG) Price Target to $68.00

Carlyle Group (NASDAQ:CG) had its price objective reduced by Barclays from $71.00 to $68.00 in a report released on Monday morning,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other brokerages have also recently weighed in on CG. Morgan Stanley set a $71.00 price target on Carlyle Group in a research report on Tuesday, January 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Carlyle Group in a research note on Wednesday, January 21st. Wolfe Research restated an “outperform” rating on shares of Carlyle Group in a research report on Wednesday, January 7th. UBS Group decreased their price objective on shares of Carlyle Group from $81.00 to $65.00 and set a “buy” rating for the company in a research report on Friday, February 20th. Finally, TD Cowen raised their target price on Carlyle Group from $65.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Eight equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $66.00.

Carlyle Group Trading Up 1.6%

Shares of Carlyle Group stock opened at $52.50 on Monday. Carlyle Group has a 1 year low of $33.02 and a 1 year high of $69.85. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.33 and a quick ratio of 2.49. The stock has a market cap of $18.96 billion, a PE ratio of 24.08, a price-to-earnings-growth ratio of 1.05 and a beta of 2.07. The firm has a fifty day moving average price of $58.86 and a 200 day moving average price of $59.23.

Carlyle Group (NASDAQ:CG) last announced its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.03). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.09 billion. Carlyle Group had a return on equity of 23.62% and a net margin of 16.92%.Carlyle Group’s revenue for the quarter was up 84.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 earnings per share. Equities research analysts predict that Carlyle Group will post 4.48 earnings per share for the current year.

Carlyle Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Monday, February 16th were paid a dividend of $0.35 per share. The ex-dividend date was Friday, February 13th. This represents a $1.40 dividend on an annualized basis and a yield of 2.7%. Carlyle Group’s dividend payout ratio is currently 64.22%.

Insider Buying and Selling

In other news, Director David M. Rubenstein sold 625,000 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $56.55, for a total value of $35,343,750.00. Following the completion of the sale, the director directly owned 27,999,644 shares of the company’s stock, valued at approximately $1,583,379,868.20. This represents a 2.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 26.30% of the company’s stock.

Institutional Trading of Carlyle Group

Several hedge funds have recently made changes to their positions in CG. Norges Bank acquired a new position in shares of Carlyle Group during the fourth quarter worth about $288,257,000. State Street Corp boosted its holdings in Carlyle Group by 20.9% in the 3rd quarter. State Street Corp now owns 9,942,135 shares of the financial services provider’s stock valued at $623,372,000 after purchasing an additional 1,720,483 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Carlyle Group during the 3rd quarter worth approximately $75,612,000. Vanguard Group Inc. lifted its holdings in shares of Carlyle Group by 3.7% in the 4th 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. Finally, Algebris UK Ltd. purchased a new stake in shares of Carlyle Group in the fourth quarter valued at approximately $50,459,000. Institutional investors and hedge funds own 55.88% of the company’s stock.

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.