Carlyle Group (NASDAQ:CG) Given New $76.00 Price Target at TD Cowen

Carlyle Group (NASDAQ:CG) had its price target decreased by TD Cowen from $77.00 to $76.00 in a report released on Wednesday,Benzinga reports. TD Cowen currently has a buy rating on the financial services provider’s stock.

Other research analysts also recently issued reports about the company. BMO Capital Markets assumed coverage on Carlyle Group in a research note on Friday, October 3rd. They issued an “outperform” rating and a $74.00 price objective on the stock. Wolfe Research restated an “outperform” rating on shares of Carlyle Group in a report on Wednesday, January 7th. Keefe, Bruyette & Woods lowered their price objective on shares of Carlyle Group from $66.00 to $64.00 and set a “market perform” rating for the company in a research note on Monday, November 3rd. Barclays raised their price target on shares of Carlyle Group from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, December 12th. Finally, Wall Street Zen lowered shares of Carlyle Group from a “hold” rating to a “sell” rating in a report on Sunday. Eight investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $67.08.

Carlyle Group Stock Performance

NASDAQ:CG opened at $65.56 on Wednesday. The company has a market capitalization of $23.63 billion, a PE ratio of 36.63, a P/E/G ratio of 1.20 and a beta of 2.04. Carlyle Group has a fifty-two week low of $33.02 and a fifty-two week high of $69.85. The company has a debt-to-equity ratio of 1.78, a quick ratio of 2.49 and a current ratio of 2.49. The company has a 50 day simple moving average of $57.68 and a two-hundred day simple moving average of $59.86.

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

Carlyle Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Monday, November 10th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.40 annualized dividend and a dividend yield of 2.1%. Carlyle Group’s payout ratio is presently 78.21%.

Insiders Place Their Bets

In other Carlyle Group news, Director David M. Rubenstein sold 625,000 shares of Carlyle Group stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $56.55, for a total transaction of $35,343,750.00. Following the completion of the transaction, the director owned 27,999,644 shares in the company, valued at approximately $1,583,379,868.20. The trade was a 2.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 26.30% of the company’s stock.

Institutional Trading of Carlyle Group

Several institutional investors and hedge funds have recently made changes to their positions in CG. AQR Capital Management LLC boosted its holdings in Carlyle Group by 937.5% during the first quarter. AQR Capital Management LLC now owns 57,335 shares of the financial services provider’s stock worth $2,499,000 after purchasing an additional 51,809 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Carlyle Group by 40.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,144,974 shares of the financial services provider’s stock valued at $49,909,000 after acquiring an additional 332,533 shares during the last quarter. Empowered Funds LLC grew its stake in Carlyle Group by 3.4% in the 1st quarter. Empowered Funds LLC now owns 48,237 shares of the financial services provider’s stock valued at $2,103,000 after purchasing an additional 1,579 shares during the period. Focus Partners Wealth raised its stake in shares of Carlyle Group by 27.4% during the 1st quarter. Focus Partners Wealth now owns 5,434 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 1,169 shares during the period. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Carlyle Group by 755.3% in the 1st 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 during the last quarter. Hedge funds and other institutional investors own 55.88% of the company’s stock.

Carlyle Group Company Profile

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.