Carlyle Group (NASDAQ:CG) Given New $60.00 Price Target at UBS Group

Key Points

• UBS lowered Carlyle Group’s price target from $70 to $60 while maintaining a “buy” rating, implying 61.12% upside from the prior close.
• Carlyle shares fell 2.6% to $37.24, near their 52-week low. Analyst sentiment is mixed, with a consensus “hold” rating and average price target of $55.40.
• The company exceeded quarterly earnings expectations, reporting $1.07 EPS versus $0.91 expected and $1.11 billion in revenue, although revenue declined 28.6% year over year.

Carlyle Group (NASDAQ:CG - Get Free Report) had its price target dropped by research analysts at UBS Group from $70.00 to $60.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the financial services provider's stock. UBS Group's target price points to a potential upside of 61.12% from the company's previous close.

Several other research analysts also recently commented on the stock. Royal Bank Of Canada dropped their target price on shares of Carlyle Group from $58.00 to $48.00 and set a "sector perform" rating on the stock in a report on Monday, October 5th. TD Cowen cut their target price on shares of Carlyle Group from $54.00 to $42.00 and set a "hold" rating for the company in a research note on Monday. Citigroup reissued an "outperform" rating on shares of Carlyle Group in a report on Thursday, August 6th. Keefe, Bruyette & Woods raised their price target on shares of Carlyle Group from $47.00 to $50.00 and gave the stock a "market perform" rating in a research report on Thursday, August 6th. Finally, Evercore set a $51.00 price objective on shares of Carlyle Group in a report on Thursday, August 6th. Eight analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $55.40.

Carlyle Group Stock Down 2.6%

Shares of NASDAQ CG traded down $1.01 during trading hours on Tuesday, hitting $37.24. The stock had a trading volume of 4,309,013 shares, compared to its average volume of 3,417,294. The company has a debt-to-equity ratio of 1.91, a quick ratio of 2.35 and a current ratio of 2.35. The company has a market capitalization of $13.27 billion, a P/E ratio of 38.79, a P/E/G ratio of 1.12 and a beta of 1.88. Carlyle Group has a 52 week low of $37.05 and a 52 week high of $67.30. The firm's 50-day moving average price is $44.49 and its two-hundred day moving average price is $45.68.

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

Insider Activity at Carlyle Group

In related news, Director David Rubenstein sold 400,000 shares of the company's stock in a transaction dated 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 $1,149,690,784.56. The trade was a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 25.40% of the company's stock.

Institutional Investors Weigh In On Carlyle Group

A number of institutional investors have recently added to or reduced their stakes in CG. Sound Income Strategies LLC raised its holdings in shares of Carlyle Group by 1.8% in the 3rd quarter. Sound Income Strategies LLC now owns 129,024 shares of the financial services provider's stock worth $4,953,000 after buying an additional 2,290 shares in the last quarter. GAMMA Investing LLC grew its position in Carlyle Group by 10.8% in the third quarter. GAMMA Investing LLC now owns 8,615 shares of the financial services provider's stock valued at $342,000 after acquiring an additional 837 shares during the period. Farther Finance Advisors LLC raised its stake in Carlyle Group by 30.8% during the third quarter. Farther Finance Advisors LLC now owns 10,615 shares of the financial services provider's stock worth $421,000 after acquiring an additional 2,500 shares in the last quarter. Moody National Bank Trust Division raised its stake in Carlyle Group by 36.1% during the third quarter. Moody National Bank Trust Division now owns 24,272 shares of the financial services provider's stock worth $963,000 after acquiring an additional 6,432 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Carlyle Group by 22.7% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,254 shares of the financial services provider's stock valued at $221,000 after acquiring an additional 971 shares during the period. 55.88% of the stock is owned by institutional investors and hedge funds.

About Carlyle Group

The Carlyle Group Inc is a global alternative asset management firm that invests across private equity, credit and investment solutions. The company manages funds and investment vehicles for institutional investors, private wealth clients and other investors, with strategies focused on private markets and long-term value creation.

Carlyle's investment activities include corporate buyouts, growth capital, middle-market lending, structured credit, real assets and secondaries. Through its investment solutions business, the firm also provides access to private-market strategies and manages portfolios of private equity interests and other alternative investments.

Founded in 1987 by William E.

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