Carlyle Group (NASDAQ:CG) Stock Rating Lowered by Wall Street Zen

Carlyle Group (NASDAQ:CG) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Monday, Wall Street Zen reports.

Several other equities analysts have also commented on the company. TD Cowen reduced their price objective on Carlyle Group from $54.00 to $42.00 and set a “hold” rating on the stock in a research report on Monday, October 12th. Citizens Jmp boosted their target price on Carlyle Group from $70.00 to $73.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 6th. Wells Fargo & Company started coverage on Carlyle Group in a research note on Friday, October 2nd. They issued an “equal weight” rating and a $43.00 target price for the company. UBS Group reduced their price target on shares of Carlyle Group from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, October 13th. Finally, Barclays decreased their price target on shares of Carlyle Group from $64.00 to $53.00 and set an “overweight” rating on the stock in a research note on Thursday, October 8th. Eight investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Carlyle Group has an average rating of “Hold” and an average target price of $54.20.

Carlyle Group Price Performance

Shares of CG stock opened at $38.53 on Monday. The company’s fifty day simple moving average is $41.99 and its two-hundred day simple moving average is $47.74. Carlyle Group has a 1 year low of $35.41 and a 1 year high of $67.30.

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

Insider Activity at Carlyle Group

In other Carlyle Group news, Director David Rubenstein sold 400,000 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $42.74, for a total transaction of $17,096,000.00. Following the transaction, the director owned 26,899,644 shares in the company, valued at approximately $1,149,690,784.56. This represents a 1.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 25.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Carlyle Group in the 2nd quarter valued at approximately $1,346,848,000. William Blair Investment Management LLC bought a new stake in shares of Carlyle Group in the 2nd quarter worth $249,077,000. Legal & General Group Plc purchased a new position in shares of Carlyle Group in the second quarter worth $162,984,000. Amundi raised its stake in shares of Carlyle Group by 419.0% in the second quarter. Amundi now owns 3,406,001 shares of the financial services provider’s stock worth $143,427,000 after purchasing an additional 2,749,781 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Carlyle Group by 1.1% during the first quarter. Bank of New York Mellon Corp now owns 2,047,650 shares of the financial services provider’s stock valued at $99,086,000 after purchasing an additional 23,065 shares in the last quarter. Institutional investors own 55.88% of the company’s stock.

About Carlyle Group

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.