Carlyle Group (NASDAQ:CG) Given New $48.00 Price Target at Piper Sandler

Key Points

• Piper Sandler lowered Carlyle Group’s price target from $54 to $48 while maintaining an “overweight” rating, implying approximately 31% upside from the stock’s prior close.
• Analyst sentiment is mixed: Carlyle has an average “Hold” rating and a consensus price target of $54.60, based on eight Buy, eight Hold and one Sell recommendation.
• Carlyle shares rose 0.4% to $36.53, near their 52-week low, despite the company beating quarterly earnings estimates with $1.07 in EPS versus the $0.91 consensus; Director David Rubenstein separately sold 400,000 shares.

Carlyle Group (NASDAQ:CG - Get Free Report) had its target price lowered by equities researchers at Piper Sandler from $54.00 to $48.00 in a report released on Monday, Benzinga reports. The firm currently has an "overweight" rating on the financial services provider's stock. Piper Sandler's price target would indicate a potential upside of 31.38% from the stock's previous close.

Several other research analysts have also issued reports on CG. Citizens Jmp upped their target price on Carlyle Group from $70.00 to $73.00 and gave the company a "market outperform" rating in a research report on Thursday, August 6th. 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 report on Thursday, August 6th. Morgan Stanley set a $51.00 price target on Carlyle Group in a research note on Friday. BMO Capital Markets restated an "outperform" rating and set a $52.00 price objective on shares of Carlyle Group in a report on Monday, July 13th. Finally, Evercore set a $51.00 price objective on shares of Carlyle Group in a research report on Thursday, August 6th. Eight equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Carlyle Group presently has an average rating of "Hold" and a consensus price target of $54.60.

Carlyle Group Stock Up 0.4%

NASDAQ CG traded up $0.15 on Monday, hitting $36.53. The stock had a trading volume of 301,018 shares, compared to its average volume of 3,413,777. The business's fifty day moving average price is $43.47 and its 200 day moving average price is $45.40. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.35 and a quick ratio of 2.35. Carlyle Group has a 52-week low of $35.41 and a 52-week high of $67.30. The stock has a market cap of $13.02 billion, a price-to-earnings ratio of 38.01, a price-to-earnings-growth ratio of 1.06 and a beta of 1.88.

Carlyle Group (NASDAQ:CG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $0.91 by $0.16. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $923.50 million. Carlyle Group had a return on equity of 22.52% and a net margin of 10.08%. The business's revenue for the quarter was down 28.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.87 EPS. Equities research analysts anticipate that Carlyle Group will post 3.58 earnings per share for the current year.

Insider Buying and Selling

In other Carlyle Group news, Director David Rubenstein sold 400,000 shares of Carlyle Group stock in a transaction dated 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 completion of the sale, the director owned 26,899,644 shares of the company's stock, valued at approximately $1,149,690,784.56. The trade was a 1.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 25.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CG. MassMutual Private Wealth & Trust FSB increased its stake in shares of Carlyle Group by 36.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 962 shares of the financial services provider's stock worth $41,000 after acquiring an additional 258 shares during the period. Wedmont Private Capital lifted its position in Carlyle Group by 4.1% during the second quarter. Wedmont Private Capital now owns 7,433 shares of the financial services provider's stock valued at $332,000 after purchasing an additional 295 shares during the period. Retirement Planning Co of New England Inc. lifted its position in Carlyle Group by 2.9% during the third quarter. Retirement Planning Co of New England Inc. now owns 11,287 shares of the financial services provider's stock valued at $448,000 after purchasing an additional 316 shares during the period. Arkadios Wealth Advisors boosted its holdings in Carlyle Group by 1.8% in the first quarter. Arkadios Wealth Advisors now owns 18,621 shares of the financial services provider's stock valued at $901,000 after purchasing an additional 332 shares during the last quarter. Finally, Compound Planning Inc. grew its position in Carlyle Group by 9.2% during the 1st quarter. Compound Planning Inc. now owns 4,730 shares of the financial services provider's stock worth $229,000 after purchasing an additional 398 shares during the period. 55.88% of the stock is currently owned by hedge funds and other institutional investors.

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.

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