Carlyle Group (NASDAQ:CG) Rating Lowered to Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded Carlyle Group from “hold” to “sell,” although the broader analyst consensus remains “hold,” with eight Buy, eight Hold and one Sell rating and an average price target of $56.60.
• Carlyle shares opened at $38.42, near their 52-week low of $37.08. The company beat quarterly earnings expectations with $1.07 EPS versus $0.91 estimated, but revenue fell 28.6% year over year to $1.11 billion.
• Director David Rubenstein sold 400,000 shares for approximately $17.1 million, while institutional investors—including BlackRock, William Blair and Legal & General—established or increased positions; institutions own 55.88% of the stock.

Carlyle Group (NASDAQ:CG - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday, Wall Street Zen reports.

Other analysts have also issued reports about the company. Weiss Ratings raised Carlyle Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. Morgan Stanley set a $57.00 price objective on shares of Carlyle Group in a report on Tuesday, July 21st. Piper Sandler began coverage on shares of Carlyle Group in a research report on Thursday, September 24th. They set an "overweight" rating and a $54.00 target price on the stock. Royal Bank Of Canada decreased their price target on shares of Carlyle Group from $58.00 to $48.00 and set a "sector perform" rating for the company in a research report on Monday. Finally, Citizens Jmp lifted their price target on shares of Carlyle Group from $70.00 to $73.00 and gave the stock a "market outperform" rating in a report on Thursday, August 6th. Eight equities research 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. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $56.60.

Carlyle Group Stock Up 0.1%

Shares of NASDAQ:CG opened at $38.42 on Friday. Carlyle Group has a 52-week low of $37.08 and a 52-week high of $67.30. The company has a market capitalization of $13.69 billion, a PE ratio of 40.02, a price-to-earnings-growth ratio of 1.12 and a beta of 1.88. 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 fifty day moving average of $44.71 and a 200-day moving average of $45.75.

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, beating the consensus estimate of $0.91 by $0.16. Carlyle Group had a return on equity of 22.52% and a net margin of 10.08%. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $923.50 million. During the same quarter last year, the business posted $0.87 EPS. Carlyle Group's revenue for the quarter was down 28.6% on a year-over-year basis. On average, equities analysts predict that Carlyle Group will post 3.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other Carlyle Group news, Director David Rubenstein sold 400,000 shares of the 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 directly owned 26,899,644 shares in the company, valued at approximately $1,149,690,784.56. This trade represents a 1.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 25.40% of the company's stock.

Institutional Investors Weigh In On Carlyle Group

Several institutional investors and hedge funds have recently made changes to their positions in CG. BlackRock Inc. bought a new stake in Carlyle Group in the second quarter worth approximately $1,346,848,000. William Blair Investment Management LLC bought a new stake in shares of Carlyle Group in the 2nd quarter valued at $249,077,000. Legal & General Group Plc bought a new position in Carlyle Group during the second quarter worth $162,984,000. Amundi grew its holdings in 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 period. Finally, Bank of New York Mellon Corp increased its stake in Carlyle Group by 1.1% in 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.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.