Carlyle Group (NASDAQ:CG) Given New $68.00 Price Target at Barclays

Carlyle Group (NASDAQ:CG) had its price target cut by analysts at Barclays from $71.00 to $68.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s target price indicates a potential upside of 31.82% from the stock’s previous close.

CG has been the subject of a number of other research reports. Morgan Stanley set a $71.00 price objective on shares of Carlyle Group in a report on Tuesday, January 27th. JPMorgan Chase & Co. upped their price objective on Carlyle Group from $66.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. Royal Bank Of Canada initiated coverage on Carlyle Group in a research note on Monday, February 23rd. They issued an “outperform” rating and a $67.00 target price on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Carlyle Group in a research note on Wednesday, January 21st. Finally, Wall Street Zen downgraded shares of Carlyle Group from a “hold” rating to a “sell” rating in a research note on Sunday, January 11th. Eight research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $66.00.

Carlyle Group Stock Down 0.8%

NASDAQ CG traded down $0.40 on Monday, reaching $51.59. The company had a trading volume of 499,762 shares, compared to its average volume of 3,032,704. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 1.78. The company’s fifty day moving average is $59.40 and its 200 day moving average is $59.45. Carlyle Group has a 52-week low of $33.02 and a 52-week high of $69.85. The stock has a market capitalization of $18.59 billion, a P/E ratio of 23.63, a P/E/G ratio of 1.05 and a beta of 2.07.

Carlyle Group (NASDAQ:CG) last posted its earnings results on Thursday, February 5th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.03). Carlyle Group had a return on equity of 23.98% and a net margin of 16.92%.The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the company earned $0.92 EPS. The business’s revenue was up 84.1% compared to the same quarter last year. Sell-side analysts anticipate that Carlyle Group will post 4.48 earnings per share for the current fiscal year.

Insider Activity at Carlyle Group

In other news, Director David M. Rubenstein sold 625,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $56.55, for a total value of $35,343,750.00. Following the completion of the sale, the director directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 26.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CG. Allworth Financial LP boosted its holdings in Carlyle Group by 150.3% during the 2nd quarter. Allworth Financial LP now owns 498 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 299 shares during the period. Bernard Wealth Management Corp. bought a new stake in Carlyle Group in the fourth quarter valued at approximately $30,000. WFA of San Diego LLC purchased a new stake in Carlyle Group during the 2nd quarter valued at $26,000. Quarry LP bought a new stake in shares of Carlyle Group in the 3rd quarter worth approximately $33,000. Finally, Motco purchased a new position in shares of Carlyle Group during the third quarter valued at about $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.