Carlyle Group (NASDAQ:CG) Price Target Cut to $67.00 by Analysts at Barclays

Carlyle Group (NASDAQ:CG) had its price target lowered by equities researchers at Barclays from $68.00 to $67.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective would suggest a potential upside of 38.19% from the company’s current price.

Several other brokerages also recently commented on CG. Wolfe Research reaffirmed an “outperform” rating on shares of Carlyle Group in a research note on Wednesday, January 7th. JPMorgan Chase & Co. upped their target price on shares of Carlyle Group from $66.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. BMO Capital Markets lowered their target price on shares of Carlyle Group from $65.00 to $58.00 and set an “outperform” rating for the company in a research note on Tuesday, March 24th. Wall Street Zen raised shares of Carlyle Group from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, TD Cowen upped their target price on shares of Carlyle Group from $65.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Nine analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $66.43.

Carlyle Group Trading Up 3.2%

NASDAQ CG traded up $1.49 during trading hours 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. Carlyle Group has a twelve month low of $33.59 and a twelve month high of $69.85. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 1.90. The firm has a market capitalization of $17.51 billion, a P/E ratio of 22.22, a PEG ratio of 0.89 and a beta of 2.05. The stock has a fifty day moving average of $51.41 and a 200 day moving average of $56.21.

Carlyle Group (NASDAQ:CG) last issued its earnings results on Thursday, February 5th. The financial services provider reported $1.01 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the company posted $0.92 EPS. The firm’s revenue for the quarter was up 84.1% on a year-over-year basis. Equities research analysts forecast that Carlyle Group will post 4.48 earnings per share for the current fiscal year.

Insider Activity

In other news, Director David M. Rubenstein sold 500,000 shares of the stock in a transaction 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 completion of the sale, the director 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 26.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Carlyle Group

Several large investors have recently made changes to their positions in CG. Norges Bank bought a new stake in shares of Carlyle Group during the fourth quarter worth $288,257,000. State Street Corp boosted its holdings in Carlyle Group by 20.9% during the third quarter. State Street Corp now owns 9,942,135 shares of the financial services provider’s stock worth $623,372,000 after purchasing an additional 1,720,483 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in Carlyle Group during the third quarter worth $75,612,000. Vanguard Group Inc. boosted its holdings in Carlyle Group by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 26,368,246 shares of the financial services provider’s stock worth $1,558,627,000 after purchasing an additional 934,237 shares during the last quarter. Finally, Algebris UK Ltd. acquired a new position in Carlyle Group during the fourth quarter worth $50,459,000. Institutional investors 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.