Carlyle Group (NASDAQ:CG) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Carlyle Group from “hold” to “sell,” while the broader analyst consensus remains “hold,” with an average price target of $54.60.
• CG shares opened at $38.59, well below their 52-week high of $67.30. The company reported quarterly EPS of $1.07, exceeding estimates of $0.91, though revenue fell 28.6% year over year.
• Director David Rubenstein sold 400,000 shares for approximately $17.1 million. Insiders own 25.40% of Carlyle, while institutional investors hold 55.88%.

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

A number of other equities analysts have also recently commented on CG. Evercore set a $51.00 price target on Carlyle Group in a report on Thursday, August 6th. Piper Sandler dropped their price objective on Carlyle Group from $54.00 to $48.00 and set an "overweight" rating on the stock in a research note on Monday, October 19th. Royal Bank Of Canada dropped their price objective on Carlyle Group from $58.00 to $48.00 and set a "sector perform" rating on the stock in a research note on Monday, October 5th. Wells Fargo & Company started coverage on Carlyle Group in a research report on Friday, October 2nd. They issued an "equal weight" rating and a $43.00 price objective for the company. Finally, Citizens Jmp lifted their target price on Carlyle Group from $70.00 to $73.00 and gave the stock a "market outperform" rating in a research note on Thursday, August 6th. Eight investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Carlyle Group currently has an average rating of "Hold" and an average price target of $54.60.

Carlyle Group Stock Performance

Shares of CG stock opened at $38.59 on Monday. The company's fifty day simple moving average is $42.35 and its 200-day simple moving average is $45.07. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 1.91. The firm has a market cap of $13.75 billion, a PE ratio of 40.20, a P/E/G ratio of 1.24 and a beta of 1.88. Carlyle Group has a 12 month low of $35.41 and a 12 month high of $67.30.

Carlyle Group (NASDAQ:CG - Get Free Report) last announced its 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 business had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $923.50 million. During the same quarter in the prior year, the company posted $0.87 earnings per share. The firm's revenue was down 28.6% on a year-over-year basis. Equities research analysts expect that Carlyle Group will post 3.54 EPS for the current fiscal year.

Insider Buying and Selling at Carlyle Group

In other news, Director David Rubenstein sold 400,000 shares of the firm's stock in a transaction dated Friday, September 11th. The shares were 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. 25.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Carlyle Group

A number of institutional investors have recently made changes to their positions in the company. Apollon Wealth Management LLC boosted its stake in Carlyle Group by 18.6% in the 3rd quarter. Apollon Wealth Management LLC now owns 27,104 shares of the financial services provider's stock valued at $1,075,000 after purchasing an additional 4,251 shares during the period. Compass Wealth Management LLC acquired a new stake in shares of Carlyle Group during the third quarter worth $48,000. Crossmark Global Holdings Inc. bought a new stake in shares of Carlyle Group in the third quarter valued at about $250,000. Vontobel Holding Ltd. raised its stake in Carlyle Group by 2.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 51,213 shares of the financial services provider's stock worth $2,031,000 after purchasing an additional 1,369 shares in the last quarter. Finally, TD Waterhouse Canada Inc. boosted its holdings in Carlyle Group by 38.4% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 88,951 shares of the financial services provider's stock valued at $3,600,000 after purchasing an additional 24,662 shares during the period. Institutional investors own 55.88% of the company's stock.

Carlyle Group Company Profile

The Carlyle Group Inc is a global investment firm that manages alternative assets for institutional investors, private wealth clients and other investors. The company invests across a range of strategies, including private equity, global credit and investment solutions.

Carlyle's investment activities include corporate buyouts, growth capital, real estate-related investments, private lending and other credit strategies. Through its investment platforms, the firm provides capital to companies and seeks to support business growth, operational improvement and long-term value creation across a variety of industries.

Founded in 1987, Carlyle is headquartered in Washington, DC, and serves clients and investment opportunities across North America, Europe, Asia-Pacific and other international markets.

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