Barclays Issues Pessimistic Forecast for Carlyle Group (NASDAQ:CG) Stock Price

Carlyle Group (NASDAQ:CG) had its price objective dropped by analysts at Barclays from $68.00 to $67.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target indicates a potential upside of 39.09% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. UBS Group dropped their price objective on Carlyle Group from $81.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, February 20th. Evercore upped their price objective on Carlyle Group from $57.00 to $62.00 and gave the stock an “in-line” rating in a research note on Thursday, January 22nd. Wolfe Research reaffirmed an “outperform” rating on shares of Carlyle Group in a research note on Wednesday, January 7th. JPMorgan Chase & Co. upped their price objective on Carlyle Group from $66.00 to $67.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 10th. Finally, TD Cowen upped their price objective on Carlyle Group from $65.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Nine investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $66.43.

Carlyle Group Trading Down 0.0%

Shares of CG stock opened at $48.17 on Wednesday. Carlyle Group has a 52-week low of $34.01 and a 52-week high of $69.85. The company has a debt-to-equity ratio of 1.90, a quick ratio of 2.33 and a current ratio of 2.33. The firm has a market capitalization of $17.40 billion, a PE ratio of 22.10, a PEG ratio of 1.05 and a beta of 2.05. The stock has a fifty day simple moving average of $50.93 and a two-hundred day simple moving average of $56.10.

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

Insider Buying and Selling

In related news, Director David M. Rubenstein sold 500,000 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $46.68, for a total transaction of $23,340,000.00. Following the completion of the transaction, the director directly owned 27,399,644 shares of the company’s stock, valued at approximately $1,279,015,381.92. This represents a 1.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 26.30% of the company’s stock.

Hedge Funds Weigh In On Carlyle Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. WFA of San Diego LLC bought a new position in Carlyle Group during the second quarter valued at approximately $26,000. Geneos Wealth Management Inc. raised its position 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 purchasing an additional 574 shares during the period. Bernard Wealth Management Corp. purchased a new stake in Carlyle Group during the fourth quarter valued at approximately $30,000. Quarry LP purchased a new stake in Carlyle Group during the third quarter valued at approximately $33,000. Finally, Motco purchased a new stake in Carlyle Group during the third quarter valued at approximately $40,000. 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.