Carlyle Group (NASDAQ:CG) Shares Gap Down – Here’s What Happened

Carlyle Group Inc. (NASDAQ:CG)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $44.49, but opened at $42.42. Carlyle Group shares last traded at $41.66, with a volume of 849,673 shares traded.

Analyst Ratings Changes

Several research analysts recently issued reports on CG shares. UBS Group cut their price objective on Carlyle Group from $81.00 to $65.00 and set a “buy” rating for the company in a research report on Friday, February 20th. The Goldman Sachs Group cut their price objective on Carlyle Group from $81.00 to $69.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. TD Cowen cut their price objective on Carlyle Group from $53.00 to $50.00 and set a “hold” rating for the company in a research report on Monday, May 18th. Weiss Ratings downgraded Carlyle Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. cut their price target on Carlyle Group from $66.00 to $63.00 and set a “neutral” rating for the company in a report on Friday, May 8th. Seven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $62.00.

Carlyle Group Price Performance

The company has a fifty day simple moving average of $47.89 and a two-hundred day simple moving average of $53.34. The company has a debt-to-equity ratio of 1.92, a quick ratio of 2.55 and a current ratio of 2.55. The company has a market capitalization of $15.67 billion, a price-to-earnings ratio of 29.82, a P/E/G ratio of 1.44 and a beta of 1.84.

Carlyle Group (NASDAQ:CG) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.02). The business had revenue of $750.90 million during the quarter, compared to analyst estimates of $1.01 billion. Carlyle Group had a net margin of 13.46% and a return on equity of 20.95%. The company’s revenue was down 28.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.14 earnings per share. As a group, research analysts anticipate that Carlyle Group Inc. will post 4.05 earnings per share for the current year.

Carlyle Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Monday, May 18th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Monday, May 18th. Carlyle Group’s dividend payout ratio is presently 95.89%.

Insider Activity at Carlyle Group

In other news, Director David M. Rubenstein sold 500,000 shares of the company’s stock in a transaction 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 sale, the director directly owned 27,399,644 shares in the company, valued at $1,279,015,381.92. This represents a 1.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 25.40% of the stock is currently owned by insiders.

Institutional Trading of Carlyle Group

Institutional investors and hedge funds have recently made changes to their positions in the company. WFA of San Diego LLC acquired a new stake in shares of Carlyle Group during the 2nd quarter worth $26,000. Main Street Group LTD acquired a new stake in shares of Carlyle Group during the 1st quarter worth $27,000. Geneos Wealth Management Inc. boosted its position in Carlyle Group by 755.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 650 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 574 shares during the period. Bernard Wealth Management Corp. purchased a new stake in Carlyle Group during the 4th quarter worth $30,000. Finally, Quarry LP purchased a new stake in Carlyle Group during the 3rd quarter worth $33,000. 55.88% of the stock is currently owned by institutional investors and hedge funds.

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.