Carlyle Group (NASDAQ:CG) Stock Price Target Cut by The Goldman Sachs Group

Key Points

• Goldman Sachs cut its Carlyle Group price target from $66 to $58 but maintained a Buy rating, implying about 38% upside from the stock’s current price.
• Analyst views are mixed: seven analysts rate the stock Buy, nine Hold and one Sell. The consensus rating is Hold, with an average price target of $50.21.
• Carlyle shares traded at $42.04 on Tuesday, down $0.27; the stock’s 52-week range is $35.41 to $67.30.

Carlyle Group (NASDAQ:CG - Get Free Report) had its price target dropped by stock analysts at The Goldman Sachs Group from $66.00 to $58.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a "buy" rating on the financial services provider's stock. The Goldman Sachs Group's target price would indicate a potential upside of 37.96% from the company's current price.

A number of other equities research analysts have also recently weighed in on the stock. Citigroup restated an "outperform" rating on shares of Carlyle Group in a research note on Thursday, August 6th. JPMorgan Chase & Co. decreased their target price on shares of Carlyle Group from $64.00 to $62.00 and set a "neutral" rating for the company in a research report on Monday. Keefe, Bruyette & Woods raised their target price on shares of Carlyle Group from $47.00 to $50.00 and gave the company a "market perform" rating in a research note on Thursday, August 6th. BMO Capital Markets reduced their price target on shares of Carlyle Group from $56.00 to $46.00 and set an "outperform" rating for the company in a research note on Tuesday, October 27th. Finally, Citizens Jmp increased their price objective on shares of Carlyle Group from $70.00 to $73.00 and gave the company a "market outperform" rating in a report on Thursday, August 6th. Seven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Carlyle Group currently has an average rating of "Hold" and an average price target of $50.21.

Carlyle Group Stock Performance

Carlyle Group stock traded down $0.27 during mid-day trading on Tuesday, hitting $42.04. 725,005 shares of the company's stock traded hands, compared to its average volume of 3,408,066. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 1.91. Carlyle Group has a one year low of $35.41 and a one year high of $67.30. The firm has a 50 day moving average price of $40.51 and a 200 day moving average price of $46.65. The company has a market cap of $14.98 billion, a PE ratio of 44.73, a price-to-earnings-growth ratio of 1.37 and a beta of 1.84.

Insider Buying and Selling

In other Carlyle Group news, Director David Rubenstein sold 400,000 shares of the business'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 directly owned 26,899,644 shares in the company, valued at approximately $1,149,690,784.56. The trade was a 1.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 25.40% of the company's stock.

Institutional Trading of Carlyle Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Carlyle Group during the second quarter worth approximately $1,346,848,000. William Blair Investment Management LLC boosted its stake in shares of Carlyle Group by 15.3% during the 3rd quarter. William Blair Investment Management LLC now owns 6,821,563 shares of the financial services provider's stock worth $270,543,000 after acquiring an additional 906,658 shares in the last quarter. Legal & General Group Plc bought a new stake in shares of Carlyle Group during the 2nd quarter worth $162,984,000. Amundi grew its holdings in shares of Carlyle Group by 419.0% in the 2nd quarter. Amundi now owns 3,406,001 shares of the financial services provider's stock worth $143,427,000 after acquiring an additional 2,749,781 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Carlyle Group by 1.1% in the 1st quarter. Bank of New York Mellon Corp now owns 2,047,650 shares of the financial services provider's stock worth $99,086,000 after acquiring an additional 23,065 shares during the last quarter. 55.88% of the stock is currently owned by institutional investors.

Carlyle Group Company Profile

The Carlyle Group Inc. is a global alternative asset manager that invests on behalf of institutional and individual clients. Its business includes private equity, credit and investment solutions, including portfolios of private equity funds and related investments. Founded in Washington, D.C., in 1987, Carlyle has grown into an international firm with investment activities and offices across North America, Europe and Asia, among other regions. Its strategies span a range of industries and markets, and it works with businesses at different stages of development.

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