TD Cowen Has Lowered Expectations for Carlyle Group (NASDAQ:CG) Stock Price

Carlyle Group (NASDAQ:CG) had its price objective reduced by equities researchers at TD Cowen from $77.00 to $76.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. TD Cowen’s target price would indicate a potential upside of 14.94% from the company’s previous close.

A number of other research analysts also recently issued reports on CG. Citigroup reduced their price target on shares of Carlyle Group from $74.00 to $71.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. Wolfe Research restated an “outperform” rating on shares of Carlyle Group in a research note on Wednesday, January 7th. Morgan Stanley increased their price target on Carlyle Group from $65.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 21st. Keefe, Bruyette & Woods reduced their price objective on Carlyle Group from $66.00 to $64.00 and set a “market perform” rating for the company in a research report on Monday, November 3rd. Finally, JPMorgan Chase & Co. dropped their target price on Carlyle Group from $68.00 to $66.00 and set a “neutral” rating on the stock in a research report on Monday, November 3rd. Eight investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Carlyle Group presently has an average rating of “Hold” and a consensus price target of $67.08.

Carlyle Group Trading Up 0.9%

NASDAQ:CG opened at $66.12 on Wednesday. Carlyle Group has a 52 week low of $33.02 and a 52 week high of $69.85. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 1.78. The company has a market cap of $23.83 billion, a PE ratio of 36.94, a P/E/G ratio of 1.21 and a beta of 2.04. The business’s 50 day moving average is $57.95 and its two-hundred day moving average is $59.91.

Carlyle Group (NASDAQ:CG) last posted its quarterly earnings results on Friday, November 7th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.98. The business had revenue of $782.50 million for the quarter, compared to analyst estimates of $848.51 million. Carlyle Group had a return on equity of 23.46% and a net margin of 16.91%.During the same period in the prior year, the company posted $0.95 EPS. On average, analysts predict that Carlyle Group will post 4.48 EPS for the current year.

Insider Buying and Selling at Carlyle Group

In related news, Director David M. Rubenstein sold 625,000 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $56.55, for a total value of $35,343,750.00. Following the completion of the sale, the director owned 27,999,644 shares of the company’s stock, valued at $1,583,379,868.20. This represents a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 26.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Allworth Financial LP boosted its position in shares of Carlyle Group by 150.3% during the 2nd quarter. Allworth Financial LP now owns 498 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 299 shares in the last quarter. WFA of San Diego LLC acquired a new stake in Carlyle Group during the second quarter valued at approximately $26,000. Geneos Wealth Management Inc. boosted its holdings in Carlyle Group by 755.3% during the first quarter. Geneos Wealth Management Inc. now owns 650 shares of the financial services provider’s stock worth $28,000 after buying an additional 574 shares in the last quarter. Bernard Wealth Management Corp. bought a new position in shares of Carlyle Group in the fourth quarter valued at $30,000. Finally, Quarry LP acquired a new stake in shares of Carlyle Group during the 3rd quarter valued at $33,000. 55.88% of the stock is owned by institutional investors and hedge funds.

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.