Carlyle Group (NASDAQ:CG) Now Covered by Wells Fargo & Company

Key Points

• Wells Fargo initiated coverage of Carlyle Group with an “equal weight” rating and a $43 price target, implying roughly 8% upside from the prior close.
• Analyst sentiment is mixed: Carlyle has an overall “Hold” consensus rating and a $57.87 average price target, based on eight Buy, eight Hold and one Sell recommendation.
• Carlyle reported quarterly EPS of $1.07, beating estimates of $0.91, while revenue reached $1.11 billion but declined 28.6% year over year; the stock opened at $39.82 and remained near its 52-week low.

Equities researchers at Wells Fargo & Company initiated coverage on shares of Carlyle Group (NASDAQ:CG - Get Free Report) in a research note issued on Friday, MarketBeat.com reports. The brokerage set an "equal weight" rating and a $43.00 price target on the financial services provider's stock. Wells Fargo & Company's price objective would suggest a potential upside of 7.99% from the stock's previous close.

Other equities research analysts have also issued reports about the company. Piper Sandler initiated coverage on Carlyle Group in a research report on Thursday, September 24th. They set an "overweight" rating and a $54.00 price target on the stock. Morgan Stanley set a $57.00 price target on shares of Carlyle Group in a research note on Tuesday, July 21st. Citizens Jmp raised their target price on shares of Carlyle Group from $70.00 to $73.00 and gave the company a "market outperform" rating in a research note on Thursday, August 6th. Evercore set a $51.00 price objective on Carlyle Group in a research report on Thursday, August 6th. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $52.00 target price on shares of Carlyle Group in a research note on Monday, July 13th. Eight research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Carlyle Group currently has an average rating of "Hold" and a consensus price target of $57.87.

Carlyle Group Stock Performance

NASDAQ:CG opened at $39.82 on Friday. The business has a 50 day moving average price of $45.43 and a 200-day moving average price of $46.06. Carlyle Group has a fifty-two week low of $38.72 and a fifty-two week high of $67.30. 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 firm has a market cap of $14.19 billion, a PE ratio of 41.48, a price-to-earnings-growth ratio of 1.26 and a beta of 1.88.

Carlyle Group (NASDAQ:CG - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.16. The business had revenue of $1.11 billion during the quarter, compared to analysts' expectations 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 was down 28.6% on a year-over-year basis. During the same quarter last year, the business posted $0.87 EPS. Equities research analysts predict that Carlyle Group will post 3.6 earnings per share for the current year.

Insider Transactions at Carlyle Group

In other news, Director David Rubenstein sold 400,000 shares of the firm's stock in a transaction on Friday, September 11th. The stock was sold at an average price of $42.74, for a total value of $17,096,000.00. Following the transaction, the director directly owned 26,899,644 shares in the company, valued at $1,149,690,784.56. This trade represents a 1.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 25.40% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CG. Main Street Group LTD purchased a new stake in shares of Carlyle Group in the first quarter valued at $27,000. Allworth Financial LP bought a new position in Carlyle Group during the 2nd quarter valued at about $35,000. MassMutual Private Wealth & Trust FSB lifted its stake in 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 purchasing an additional 258 shares during the last quarter. Western Wealth Management LLC purchased a new position in shares of Carlyle Group during the first quarter valued at approximately $52,000. Finally, GHP Investment Advisors Inc. purchased a new stake in shares of Carlyle Group in the first quarter worth approximately $57,000. 55.88% of the stock is owned by hedge funds and other institutional investors.

Carlyle Group Company Profile

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.