Carlyle Group (NASDAQ:CG) Price Target Lowered to $69.00 at The Goldman Sachs Group

Carlyle Group (NASDAQ:CG) had its price target trimmed by The Goldman Sachs Group from $81.00 to $69.00 in a report published on Tuesday,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

Other analysts also recently issued reports about the company. BMO Capital Markets cut their target price on Carlyle Group from $65.00 to $58.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 24th. TD Cowen increased their target price on Carlyle Group from $65.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Morgan Stanley set a $71.00 target price on Carlyle Group in a research note on Tuesday, January 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Carlyle Group in a research note on Wednesday, January 21st. Finally, Wolfe Research reiterated an “outperform” rating on shares of Carlyle Group in a research note on Wednesday, January 7th. Nine equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $66.50.

Carlyle Group Stock Performance

Carlyle Group stock opened at $47.00 on Tuesday. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 1.90. The company has a market capitalization of $16.97 billion, a P/E ratio of 21.56, a PEG ratio of 0.89 and a beta of 2.05. The stock’s 50 day moving average is $51.41 and its 200 day moving average is $56.21. Carlyle Group has a twelve month low of $33.59 and a twelve month high of $69.85.

Carlyle Group (NASDAQ:CG) last issued its earnings results on Thursday, February 5th. The financial services provider reported $1.01 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.03). Carlyle Group had a net margin of 16.92% and a return on equity of 23.62%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the prior year, the business posted $0.92 earnings per share. The business’s revenue for the quarter was up 84.1% on a year-over-year basis. On average, equities research analysts predict that Carlyle Group will post 4.48 earnings per share for the current fiscal year.

Carlyle Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Monday, February 16th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Friday, February 13th. Carlyle Group’s dividend payout ratio (DPR) is currently 64.22%.

Insider Buying and Selling

In related news, Director David M. Rubenstein sold 500,000 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $46.68, for a total value of $23,340,000.00. Following the transaction, the director directly owned 27,399,644 shares of the company’s stock, valued at approximately $1,279,015,381.92. This trade represents a 1.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 26.30% of the company’s stock.

Hedge Funds Weigh In On Carlyle Group

A number of institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC raised 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 valued at $2,499,000 after acquiring an additional 51,809 shares during the period. Goldman Sachs Group Inc. raised its holdings in 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 period. Empowered Funds LLC raised its holdings in Carlyle Group by 3.4% during the first quarter. Empowered Funds LLC now owns 48,237 shares of the financial services provider’s stock valued at $2,103,000 after acquiring an additional 1,579 shares during the period. Focus Partners Wealth raised its holdings in Carlyle Group by 27.4% during the first quarter. Focus Partners Wealth now owns 5,434 shares of the financial services provider’s stock valued at $237,000 after acquiring an additional 1,169 shares during the period. Finally, Geneos Wealth Management Inc. raised 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 valued at $28,000 after acquiring an additional 574 shares during the period. 55.88% of the stock is owned by 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.