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

Carlyle Group (NASDAQ:CG) had its target price trimmed by Piper Sandler from $54.00 to $48.00 in a research report released on Monday,Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Other research analysts also recently issued research reports about the stock. Citigroup reaffirmed an “outperform” rating on shares of Carlyle Group in a research report on Thursday, August 6th. Wells Fargo & Company started coverage on shares of Carlyle Group in a research report on Friday, October 2nd. They set an “equal weight” rating and a $43.00 target price for the company. UBS Group lowered their target price on shares of Carlyle Group from $70.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, October 13th. Weiss Ratings raised shares of Carlyle Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Finally, Morgan Stanley set a $51.00 price target on Carlyle Group in a research report on Friday, October 16th. Eight research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $54.60.

Carlyle Group Price Performance

CG opened at $37.27 on Monday. The firm has a market capitalization of $13.28 billion, a PE ratio of 38.82, a price-to-earnings-growth ratio of 1.19 and a beta of 1.88. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.35 and a quick ratio of 2.35. The business’s 50-day moving average is $42.81 and its two-hundred day moving average is $45.18. Carlyle Group has a 1 year low of $35.41 and a 1 year high of $67.30.

Carlyle Group (NASDAQ:CG) last released its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $0.91 by $0.16. Carlyle Group had a net margin of 10.08% and a return on equity of 22.52%. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $923.50 million. During the same period in the prior year, the firm posted $0.87 earnings per share. The company’s quarterly revenue was down 28.6% on a year-over-year basis. Research analysts anticipate that Carlyle Group will post 3.56 earnings per share for the current fiscal year.

Carlyle Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Monday, August 17th were paid 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 3.8%. Carlyle Group’s payout ratio is presently 145.83%.

Insider Buying and Selling at Carlyle Group

In other news, Director David Rubenstein sold 400,000 shares of the company’s stock in a transaction dated 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 owned 26,899,644 shares in the company, valued at $1,149,690,784.56. This represents a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 25.40% of the company’s stock.

Institutional Trading of Carlyle Group

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

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.