Carlyle Group Inc. $CG Holdings Cut by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its stake in shares of Carlyle Group Inc. (NASDAQ:CG) by 23.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,004 shares of the financial services provider’s stock after selling 13,322 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Carlyle Group were worth $2,081,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Oslo Pensjonsforsikring AS bought a new stake in shares of Carlyle Group during the first quarter valued at approximately $58,000. Cassaday & Co Wealth Management LLC increased its holdings in shares of Carlyle Group by 55.9% in the first quarter. Cassaday & Co Wealth Management LLC now owns 8,363 shares of the financial services provider’s stock valued at $405,000 after buying an additional 3,000 shares in the last quarter. SEB Asset Management AB purchased a new stake in shares of Carlyle Group during the first quarter valued at $2,441,000. Main Street Group LTD purchased a new position in Carlyle Group in the 1st quarter worth about $27,000. Finally, Independent Financial Group LLC purchased a new stake in Carlyle Group during the first quarter valued at about $206,000. Institutional investors own 55.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CG shares. Morgan Stanley set a $57.00 price target on shares of Carlyle Group in a research report on Tuesday, July 21st. Barclays decreased their price objective on Carlyle Group from $63.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. TD Cowen decreased their price target on shares of Carlyle Group from $53.00 to $50.00 and set a “hold” rating for the company in a report on Monday, May 18th. Weiss Ratings upgraded shares of Carlyle Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, July 6th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Carlyle Group from $66.00 to $63.00 and set a “neutral” rating for the company in a research note on Friday, May 8th. Seven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Carlyle Group presently has an average rating of “Hold” and an average target price of $60.07.

Carlyle Group Trading Down 3.8%

Shares of NASDAQ CG opened at $44.70 on Thursday. The business has a 50 day simple moving average of $44.40 and a 200 day simple moving average of $49.66. Carlyle Group Inc. has a 52 week low of $39.60 and a 52 week high of $69.85. The stock has a market cap of $16.09 billion, a price-to-earnings ratio of 30.62, a PEG ratio of 1.63 and a beta of 1.84. The company has a debt-to-equity ratio of 1.92, a quick ratio of 2.55 and a current ratio of 2.55.

Carlyle Group (NASDAQ:CG) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). Carlyle Group had a net margin of 13.46% and a return on equity of 20.95%. The business had revenue of $750.90 million during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the firm earned $1.14 earnings per share. Carlyle Group’s revenue was down 28.0% compared to the same quarter last year. On average, research analysts predict that Carlyle Group Inc. will post 3.71 earnings per share for the current fiscal year.

Carlyle Group 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.