Carlyle Group (NASDAQ:CG) Reaches New 12-Month Low on Analyst Downgrade

Carlyle Group Inc. (NASDAQ:CG)’s share price reached a new 52-week low on Tuesday after TD Cowen lowered their price target on the stock from $54.00 to $42.00. TD Cowen currently has a hold rating on the stock. Carlyle Group traded as low as $37.05 and last traded at $37.3230, with a volume of 1,361,312 shares changing hands. The stock had previously closed at $38.25.

CG has been the subject of several other reports. Citigroup reiterated an “outperform” rating on shares of Carlyle Group in a research report on Thursday, August 6th. UBS Group raised their price target on Carlyle Group from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. BMO Capital Markets reaffirmed an “outperform” rating and set a $52.00 price target on shares of Carlyle Group in a research note on Monday, July 13th. Barclays cut their price objective on Carlyle Group from $64.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday, October 8th. Finally, Royal Bank Of Canada reduced their price objective on Carlyle Group from $58.00 to $48.00 and set a “sector perform” rating on the stock in a research report on Monday, October 5th. Eight analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Carlyle Group currently has an average rating of “Hold” and a consensus price target of $56.07.

Insider Buying and Selling at Carlyle Group

In other news, Director David Rubenstein sold 400,000 shares of the company’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $42.74, for a total value of $17,096,000.00. Following the completion of the sale, the director owned 26,899,644 shares of the company’s stock, valued at approximately $1,149,690,784.56. This represents a 1.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 25.40% of the company’s stock.

Institutional Trading of Carlyle Group

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

Carlyle Group Stock Performance

The stock has a market cap of $13.32 billion, a PE ratio of 38.94, a price-to-earnings-growth ratio of 1.12 and a beta of 1.88. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.35 and a quick ratio of 2.35. The business has a 50 day moving average price of $44.49 and a two-hundred day moving average price of $45.68.

Carlyle Group (NASDAQ:CG) last issued its 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. Carlyle Group had a net margin of 10.08% and a return on equity of 22.52%. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $923.50 million. During the same quarter last year, the business earned $0.87 earnings per share. The business’s revenue was down 28.6% on a year-over-year basis. As a group, equities research analysts forecast that Carlyle Group Inc. will post 3.58 EPS for the current fiscal year.

Carlyle Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Monday, August 17th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Monday, August 17th. Carlyle Group’s dividend payout ratio (DPR) is 145.83%.

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.