Carlyle Group Inc. (NASDAQ:CG) Stock Has Average Target Price of $54.60 According to Brokerages

Shares of Carlyle Group Inc. (NASDAQ:CG) have been assigned a consensus recommendation of “Hold” from the seventeen research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $54.20.

A number of equities research analysts have issued reports on the company. Wells Fargo & Company started coverage on Carlyle Group in a research report on Friday, October 2nd. They set an “equal weight” rating and a $43.00 price objective on the stock. Piper Sandler dropped their target price on Carlyle Group from $54.00 to $48.00 and set an “overweight” rating for the company in a report on Monday, October 19th. Barclays cut their target price on Carlyle Group from $64.00 to $53.00 and set an “overweight” rating on the stock in a research report on Thursday, October 8th. Wall Street Zen lowered Carlyle Group from a “hold” rating to a “sell” rating in a report on Monday. Finally, Keefe, Bruyette & Woods raised their price target on Carlyle Group from $47.00 to $50.00 and gave the stock a “market perform” rating in a research report on Thursday, August 6th.

Insiders Place Their Bets

In other news, Director David Rubenstein sold 400,000 shares of the 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 25.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Carlyle Group

A number of large investors have recently made changes to their positions in CG. North Dakota State Investment Board raised its position in Carlyle Group by 4.5% in the 3rd quarter. North Dakota State Investment Board now owns 8,127 shares of the financial services provider’s stock worth $322,000 after purchasing an additional 349 shares during the period. Apollon Wealth Management LLC boosted its position in shares of Carlyle Group by 18.6% during the third quarter. Apollon Wealth Management LLC now owns 27,104 shares of the financial services provider’s stock valued at $1,075,000 after buying an additional 4,251 shares during the period. Compass Wealth Management LLC bought a new position in shares of Carlyle Group during the third quarter valued at approximately $48,000. Crossmark Global Holdings Inc. bought a new position in shares of Carlyle Group during the third quarter valued at approximately $250,000. Finally, Vontobel Holding Ltd. raised its holdings in shares of Carlyle Group by 2.7% in the third quarter. Vontobel Holding Ltd. now owns 51,213 shares of the financial services provider’s stock worth $2,031,000 after buying an additional 1,369 shares during the period. 55.88% of the stock is owned by hedge funds and other institutional investors.

Carlyle Group Price Performance

CG stock opened at $38.53 on Wednesday. The firm has a fifty day moving average price of $41.99 and a 200 day moving average price of $47.74. Carlyle Group has a fifty-two week low of $35.41 and a fifty-two week high of $67.30.

Carlyle Group (NASDAQ:CG) last announced its earnings results on Tuesday, August 4th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.16. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $923.50 million. During the same quarter in the prior year, the company posted $0.87 earnings per share. The firm’s quarterly revenue was down 28.6% compared to the same quarter last year. As a group, research analysts forecast that Carlyle Group will post 3.54 earnings per share for the current year.

Carlyle Group Company Profile

The Carlyle Group Inc is a global investment firm that manages alternative assets for institutional investors, private wealth clients and other investors. The company invests across a range of strategies, including private equity, global credit and investment solutions.

Carlyle’s investment activities include corporate buyouts, growth capital, real estate-related investments, private lending and other credit strategies. Through its investment platforms, the firm provides capital to companies and seeks to support business growth, operational improvement and long-term value creation across a variety of industries.

Founded in 1987, Carlyle is headquartered in Washington, DC, and serves clients and investment opportunities across North America, Europe, Asia-Pacific and other international markets.