BMO Capital Markets Cuts Carlyle Group (NASDAQ:CG) Price Target to $58.00

Carlyle Group (NASDAQ:CG) had its target price reduced by BMO Capital Markets from $65.00 to $58.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Other equities analysts have also recently issued reports about the stock. Evercore lifted their price objective on shares of Carlyle Group from $57.00 to $62.00 and gave the stock an “in-line” rating in a research note on Thursday, January 22nd. Wolfe Research restated an “outperform” rating on shares of Carlyle Group in a research report on Wednesday, January 7th. UBS Group lowered their price target on shares of Carlyle Group from $81.00 to $65.00 and set a “buy” rating for the company in a report on Friday, February 20th. Weiss Ratings restated a “hold (c)” rating on shares of Carlyle Group in a research report on Wednesday, January 21st. Finally, Wall Street Zen upgraded Carlyle Group from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Carlyle Group presently has an average rating of “Hold” and a consensus target price of $64.86.

Carlyle Group Stock Performance

NASDAQ CG opened at $46.77 on Tuesday. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.33 and a quick ratio of 2.33. Carlyle Group has a 1-year low of $33.02 and a 1-year high of $69.85. The business has a 50 day simple moving average of $53.92 and a two-hundred day simple moving average of $57.46. The stock has a market capitalization of $16.89 billion, a PE ratio of 21.45, a P/E/G ratio of 0.90 and a beta of 2.07.

Carlyle Group (NASDAQ:CG) last posted its 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). Carlyle Group had a net margin of 16.92% and a return on equity of 23.62%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the company posted $0.92 earnings per share. The firm’s revenue was up 84.1% compared to the same quarter last year. On average, research analysts predict that Carlyle Group will post 4.48 EPS for the current fiscal year.

Carlyle Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Monday, February 16th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, February 13th. Carlyle Group’s dividend payout ratio is presently 64.22%.

Insider Transactions at Carlyle Group

In other Carlyle Group news, Director David M. Rubenstein sold 500,000 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $46.68, for a total transaction of $23,340,000.00. Following the completion of the transaction, the director owned 27,399,644 shares in the company, valued at $1,279,015,381.92. The trade was a 1.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 26.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Carlyle Group

A number of institutional investors and hedge funds have recently modified their holdings of CG. Hsbc Holdings PLC grew its position in Carlyle Group by 1.3% in the 4th quarter. Hsbc Holdings PLC now owns 108,615 shares of the financial services provider’s stock valued at $6,428,000 after acquiring an additional 1,352 shares during the last quarter. Winthrop Partners WNY LLC purchased a new stake in shares of Carlyle Group during the fourth quarter valued at $964,000. Corient Private Wealth LLC grew its holdings in shares of Carlyle Group by 18.0% in the fourth quarter. Corient Private Wealth LLC now owns 50,445 shares of the financial services provider’s stock worth $2,982,000 after purchasing an additional 7,678 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in Carlyle Group in the 4th quarter worth about $196,000. Finally, Tobam lifted its holdings in Carlyle Group by 22,841.7% during the 4th quarter. Tobam now owns 5,506 shares of the financial services provider’s stock valued at $325,000 after buying an additional 5,482 shares in the last quarter. 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.