Carlyle Group (NASDAQ:CG) Stock Gets Price Target Reduction from TD Cowen

Key Points

• TD Cowen cut Carlyle Group’s price target from $54 to $42 and maintained a “hold” rating, implying about 9.3% upside from the stock’s $38.43 price.
• Analyst sentiment remains mixed, with a consensus “hold” rating and an average price target of $56.07 based on eight Buy, eight Hold, and one Sell rating.
• Carlyle’s latest quarterly results exceeded expectations, with $1.07 EPS versus $0.91 expected and $1.11 billion in revenue, though revenue declined 28.6% year over year. Director David Rubenstein also sold 400,000 shares for approximately $17.1 million.

Carlyle Group (NASDAQ:CG - Get Free Report) had its price objective reduced by research analysts at TD Cowen from $54.00 to $42.00 in a research note issued on Monday, Benzinga reports. The firm presently has a "hold" rating on the financial services provider's stock. TD Cowen's target price points to a potential upside of 9.30% from the stock's current price.

Other equities analysts have also issued research reports about the stock. Keefe, Bruyette & Woods boosted their target price on shares of Carlyle Group from $47.00 to $50.00 and gave the company a "market perform" rating in a report on Thursday, August 6th. Weiss Ratings raised shares of Carlyle Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. Citigroup reiterated an "outperform" rating on shares of Carlyle Group in a report on Thursday, August 6th. Citizens Jmp lifted their price objective 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. Finally, 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 price objective on the stock. Eight equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Carlyle Group currently has a consensus rating of "Hold" and an average price target of $56.07.

Carlyle Group Trading Up 0.0%

NASDAQ:CG traded up $0.01 on Monday, reaching $38.43. 596,542 shares of the stock traded hands, compared to its average volume of 3,402,313. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 1.91. Carlyle Group has a 1-year low of $37.08 and a 1-year high of $67.30. The company's 50 day moving average is $44.71 and its 200-day moving average is $45.74. The firm has a market capitalization of $13.69 billion, a price-to-earnings ratio of 40.03, a price-to-earnings-growth ratio of 1.12 and a beta of 1.88.

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

Insider Activity at Carlyle Group

In other 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 directly owned 26,899,644 shares of the company's stock, valued at $1,149,690,784.56. This represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 25.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Carlyle Group

A number of hedge funds and other institutional investors have recently bought and sold shares of CG. BlackRock Inc. bought a new position in shares of Carlyle Group in the second quarter valued at approximately $1,346,848,000. William Blair Investment Management LLC bought a new stake in Carlyle Group during the second quarter worth $249,077,000. Legal & General Group Plc bought a new stake in Carlyle Group during the second quarter worth $162,984,000. Amundi boosted its position 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 last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Carlyle Group in the second quarter worth $84,540,000. Institutional investors own 55.88% of the company's stock.

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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