Carlyle Group (NASDAQ:CG) Stock Crosses Below 50 Day Moving Average – Here’s Why

Carlyle Group Inc. (NASDAQ:CG)’s share price passed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $40.11 and traded as low as $39.30. Carlyle Group shares last traded at $39.36, with a volume of 3,952,816 shares.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wall Street Zen raised Carlyle Group from a “sell” rating to a “hold” rating in a report on Saturday, November 7th. Evercore set a $42.00 price target on Carlyle Group in a research report on Friday, November 6th. Weiss Ratings cut Carlyle Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, November 2nd. TD Cowen cut their price objective on Carlyle Group from $54.00 to $42.00 and set a “hold” rating for the company in a research report on Monday, October 12th. Finally, Citizens Jmp increased their target price on Carlyle Group from $70.00 to $73.00 and gave the stock a “market outperform” rating in a report on Thursday, August 6th. Seven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $50.21.

Carlyle Group Stock Performance

The company has a debt-to-equity ratio of 2.23, a quick ratio of 2.35 and a current ratio of 0.76. The company has a market cap of $13.93 billion, a price-to-earnings ratio of 41.87, a PEG ratio of 1.08 and a beta of 1.84. The firm’s 50-day moving average price is $40.11 and its 200 day moving average price is $46.34.

Carlyle Group Dividend Announcement

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

Insider Activity

In related news, Director David Rubenstein sold 400,000 shares of Carlyle Group stock in a transaction on Friday, September 11th. The stock was sold at an average price of $42.74, for a total transaction of $17,096,000.00. Following the completion of the sale, the director directly owned 26,899,644 shares of the company’s stock, valued at $1,149,690,784.56. The trade was a 1.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 25.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Carlyle Group

Several hedge funds have recently added to or reduced their stakes in CG. BlackRock Inc. bought a new stake in shares of Carlyle Group in the 2nd quarter valued at about $1,346,848,000. William Blair Investment Management LLC boosted its stake in Carlyle Group by 15.3% during the 3rd quarter. William Blair Investment Management LLC now owns 6,821,563 shares of the financial services provider’s stock worth $270,543,000 after acquiring an additional 906,658 shares during the last quarter. Legal & General Group Plc acquired a new position in Carlyle Group during the second quarter valued at approximately $162,984,000. Amundi increased its stake in Carlyle Group by 419.0% in the second quarter. Amundi now owns 3,406,001 shares of the financial services provider’s stock valued at $143,427,000 after purchasing an additional 2,749,781 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Carlyle Group by 1.1% in the first quarter. Bank of New York Mellon Corp now owns 2,047,650 shares of the financial services provider’s stock valued at $99,086,000 after purchasing an additional 23,065 shares in the last quarter. Institutional investors and hedge funds own 55.88% of the company’s stock.

Carlyle Group Company Profile

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.