Carlyle Group (NASDAQ:CG) Hits New 52-Week Low – What’s Next?

Carlyle Group Inc. (NASDAQ:CG) hit a new 52-week low on Wednesday . The stock traded as low as $41.51 and last traded at $41.7320, with a volume of 2215108 shares. The stock had previously closed at $42.91.

Wall Street Analyst Weigh In

CG has been the subject of a number of recent analyst reports. Royal Bank Of Canada cut shares of Carlyle Group from an “outperform” rating to a “sector perform” rating and set a $58.00 target price for the company. in a research note on Monday, May 11th. Barclays lowered their price objective on shares of Carlyle Group from $67.00 to $63.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Morgan Stanley reduced their target price on Carlyle Group from $71.00 to $66.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 21st. JPMorgan Chase & Co. cut their price objective on Carlyle Group from $66.00 to $63.00 and set a “neutral” rating on the stock in a report on Friday, May 8th. Finally, Cfra downgraded Carlyle Group to a “sell” rating and set a $45.00 target price for the company. in a report on Friday, May 8th. Seven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $62.00.

Carlyle Group Stock Up 2.0%

The business has a 50 day moving average price of $46.94 and a 200 day moving average price of $52.38. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 1.92. The stock has a market cap of $15.08 billion, a PE ratio of 28.70, a P/E/G ratio of 1.40 and a beta of 1.84.

Carlyle Group (NASDAQ:CG) last announced its quarterly 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). The company had revenue of $750.90 million during the quarter, compared to analyst estimates of $1.01 billion. Carlyle Group had a net margin of 13.46% and a return on equity of 20.95%. The company’s revenue was down 28.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.14 earnings per share. Equities research analysts expect that Carlyle Group Inc. will post 4.05 EPS for the current fiscal year.

Carlyle Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Monday, May 18th were issued a $0.35 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.40 dividend on an annualized basis and a yield of 3.3%. Carlyle Group’s payout ratio is presently 95.89%.

Institutional Trading of Carlyle Group

A number of institutional investors and hedge funds have recently made changes to their positions in CG. Empowered Funds LLC raised its position in Carlyle Group by 27.1% during the first quarter. Empowered Funds LLC now owns 15,199 shares of the financial services provider’s stock worth $735,000 after acquiring an additional 3,237 shares during the period. NewEdge Advisors LLC raised its holdings in shares of Carlyle Group by 40.0% during the first quarter. NewEdge Advisors LLC now owns 23,290 shares of the financial services provider’s stock valued at $1,127,000 after acquiring an additional 6,658 shares during the last quarter. Regents of The University of California purchased a new position in shares of Carlyle Group in the first quarter valued at approximately $73,360,000. Western Wealth Management LLC acquired a new stake in shares of Carlyle Group in the first quarter worth approximately $52,000. Finally, Arkadios Wealth Advisors raised its stake in Carlyle Group by 1.8% in the 1st quarter. Arkadios Wealth Advisors now owns 18,621 shares of the financial services provider’s stock valued at $901,000 after purchasing an additional 332 shares during the last quarter. 55.88% of the stock is currently owned by hedge funds and other institutional investors.

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.