Carlyle Group (NASDAQ:CG) Stock Gets Price Target Trim from TD Cowen

Carlyle Group (NASDAQ:CG) had its target price reduced by TD Cowen from $54.00 to $42.00 in a research report released on Monday morning,Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

A number of other analysts have also weighed in on CG. Weiss Ratings raised Carlyle Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Piper Sandler started coverage on shares of Carlyle Group in a report on Thursday, September 24th. They issued an “overweight” rating and a $54.00 target price on the stock. Wells Fargo & Company assumed coverage on shares of Carlyle Group in a research note on Friday, October 2nd. They issued an “equal weight” rating and a $43.00 target price on the stock. Barclays lowered their price target on shares of Carlyle Group from $64.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday, October 8th. Finally, Wall Street Zen cut shares of Carlyle Group from a “hold” rating to a “sell” rating in a research report on Saturday, October 10th. Eight analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $55.40.

Carlyle Group Trading Down 3.9%

Shares of CG stock opened at $35.77 on Monday. The stock has a market capitalization of $12.75 billion, a PE ratio of 37.26, a P/E/G ratio of 1.09 and a beta of 1.88. Carlyle Group has a 1-year low of $35.41 and a 1-year high of $67.30. The business has a 50-day moving average of $43.94 and a 200 day moving average of $45.53. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.35 and a quick ratio of 2.35.

Carlyle Group (NASDAQ:CG) last posted its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.16. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $923.50 million. Carlyle Group had a return on equity of 22.52% and a net margin of 10.08%. Carlyle Group’s revenue for the quarter was down 28.6% compared to the same quarter last year. During the same period last year, the company earned $0.87 EPS. As a group, sell-side analysts anticipate that Carlyle Group will post 3.58 earnings per share for the current year.

Carlyle Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Monday, August 17th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.40 annualized dividend and a dividend yield of 3.9%. Carlyle Group’s payout ratio is 145.83%.

Insider Activity

In related news, Director David Rubenstein sold 400,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director owned 26,899,644 shares in the company, valued at $1,149,690,784.56. This represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 25.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of Carlyle Group during the second quarter valued at approximately $1,346,848,000. William Blair Investment Management LLC purchased a new stake in shares of Carlyle Group in the 2nd quarter worth approximately $249,077,000. Legal & General Group Plc purchased a new stake in shares of Carlyle Group in the 2nd quarter worth approximately $162,984,000. Amundi raised its stake in Carlyle Group by 419.0% during the second quarter. Amundi now owns 3,406,001 shares of the financial services provider’s stock valued at $143,427,000 after buying an additional 2,749,781 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Carlyle Group by 1.1% during 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 buying an additional 23,065 shares during the last quarter. 55.88% of the stock is owned by hedge funds and other institutional investors.

About Carlyle Group

The Carlyle Group Inc is a global alternative asset management firm that invests across private equity, credit and investment solutions. The company manages funds and investment vehicles for institutional investors, private wealth clients and other investors, with strategies focused on private markets and long-term value creation.

Carlyle’s investment activities include corporate buyouts, growth capital, middle-market lending, structured credit, real assets and secondaries. Through its investment solutions business, the firm also provides access to private-market strategies and manages portfolios of private equity interests and other alternative investments.

Founded in 1987 by William E.