Carlyle Group (NASDAQ:CG) Stock Gets Price Target Reduction from The Goldman Sachs Group

Carlyle Group (NASDAQ:CG) had its target price lowered by The Goldman Sachs Group from $66.00 to $58.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

Other analysts have also issued reports about the stock. Keefe, Bruyette & Woods boosted their target price on shares of Carlyle Group from $47.00 to $50.00 and gave the company a “market perform” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. reduced their price target on shares of Carlyle Group from $64.00 to $62.00 and set a “neutral” rating on the stock in a research note on Monday. Citigroup reiterated an “outperform” rating on shares of Carlyle Group in a report on Thursday, August 6th. Morgan Stanley set a $51.00 price objective on shares of Carlyle Group in a research report on Friday, October 16th. Finally, Wall Street Zen upgraded shares of Carlyle Group from a “sell” rating to a “hold” rating in a research note on Saturday, November 7th. Seven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $50.21.

Carlyle Group Trading Down 4.3%

Shares of CG opened at $39.36 on Tuesday. The company’s fifty day moving average is $40.11 and its 200 day moving average is $46.34. Carlyle Group has a fifty-two week low of $35.41 and a fifty-two week high of $67.30. The stock has a market capitalization of $13.93 billion, a PE ratio of 41.87, a P/E/G ratio of 1.08 and a beta of 1.84. The company has a debt-to-equity ratio of 2.23, a quick ratio of 2.35 and a current ratio of 0.76.

Carlyle Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Monday, November 16th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Monday, November 16th. Carlyle Group’s dividend payout ratio is currently 148.94%.

Insider Transactions at Carlyle Group

In related news, Director David Rubenstein sold 400,000 shares of Carlyle Group stock in a transaction that occurred 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 $1,149,690,784.56. This trade represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 25.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Carlyle Group

A number of hedge funds have recently made changes to their positions in the stock. Main Street Group LTD purchased a new position in Carlyle Group in the first quarter valued at about $27,000. Allworth Financial LP purchased a new stake in shares of Carlyle Group during the second quarter valued at about $35,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Carlyle Group by 36.6% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 962 shares of the financial services provider’s stock valued at $41,000 after buying an additional 258 shares in the last quarter. Harbour Investments Inc. grew its position in shares of Carlyle Group by 29.4% in the 3rd quarter. Harbour Investments Inc. now owns 1,052 shares of the financial services provider’s stock worth $42,000 after buying an additional 239 shares during the last quarter. Finally, Western Wealth Management LLC purchased a new position in shares of Carlyle Group in the 1st quarter worth approximately $52,000. 55.88% of the stock is currently owned by hedge funds and other institutional investors.

About Carlyle Group

The Carlyle Group Inc. is a global alternative asset manager that invests on behalf of institutional and individual clients. Its business includes private equity, credit and investment solutions, including portfolios of private equity funds and related investments. Founded in Washington, D.C., in 1987, Carlyle has grown into an international firm with investment activities and offices across North America, Europe and Asia, among other regions. Its strategies span a range of industries and markets, and it works with businesses at different stages of development.