Carlyle Group (NASDAQ:CG) Hits New 12-Month Low – Here’s Why

Carlyle Group Inc. (NASDAQ:CG) hit a new 52-week low on Thursday. The stock traded as low as $38.86 and last traded at $39.1010, with a volume of 220933 shares traded. The stock had previously closed at $39.92.

Wall Street Analysts Forecast Growth

CG has been the subject of several analyst reports. Piper Sandler began coverage on Carlyle Group in a research note on Thursday. They issued an “overweight” rating and a $54.00 price objective for the company. Barclays increased their price target on Carlyle Group from $57.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Citigroup restated an “outperform” rating on shares of Carlyle Group in a research report on Thursday, August 6th. Royal Bank Of Canada cut their price objective on shares of Carlyle Group from $58.00 to $56.00 and set a “sector perform” rating on the stock in a research report on Monday, July 13th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $52.00 target price on shares of Carlyle Group in a report on Monday, July 13th. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $58.93.

Carlyle Group Price Performance

The stock has a market capitalization of $14.26 billion, a P/E ratio of 41.70, a price-to-earnings-growth ratio of 1.23 and a beta of 1.84. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 1.91. The stock has a 50 day moving average of $45.91 and a 200-day moving average of $46.31.

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 analysts’ consensus estimates of $0.91 by $0.16. Carlyle Group had a return on equity of 22.52% and a net margin of 10.08%.The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $923.50 million. During the same quarter in the prior year, the company earned $0.87 EPS. The business’s revenue was down 28.6% compared to the same quarter last year. On average, equities research analysts anticipate that Carlyle Group Inc. will post 3.6 earnings per share for the current fiscal year.

Carlyle Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Monday, August 17th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, August 17th. Carlyle Group’s dividend payout ratio is presently 145.83%.

Insider Activity

In related news, Director David Rubenstein sold 400,000 shares of the business’s stock in a transaction that occurred on Friday, September 11th. The shares were 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. The trade was a 1.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 25.40% of the stock is currently owned by insiders.

Institutional Trading of Carlyle Group

Several hedge funds and other institutional investors have recently made changes to their positions in CG. Main Street Group LTD purchased a new position in Carlyle Group during the 1st quarter worth $27,000. Allworth Financial LP acquired a new position in shares of Carlyle Group during the second quarter valued at about $35,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Carlyle Group by 36.6% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 962 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 258 shares during the last quarter. Western Wealth Management LLC acquired a new stake in Carlyle Group in the 1st quarter worth approximately $52,000. Finally, Cary Street Partners Investment Advisory LLC grew its position in Carlyle Group by 50.6% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 955 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 321 shares during the last quarter. Hedge funds and other institutional investors own 55.88% of the company’s stock.

About Carlyle Group

The Carlyle Group Inc (NASDAQ:CG) is a global investment firm that manages alternative assets for institutional investors, private wealth clients and other investors. The company invests across private equity, global credit and investment solutions, with strategies spanning corporate, real estate and infrastructure investments.

Carlyle’s investment activities include acquiring and supporting companies through its corporate private equity platform, providing loans and other financing through its credit business, and managing portfolios of private market investments through its investment solutions platform.