Carlyle Group (NASDAQ:CG) Upgraded at Piper Sandler

Key Points

• Piper Sandler upgraded Carlyle Group to “strong buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $58.93.
• Carlyle shares opened at $39.42, near their 52-week low of $38.76 and below their 50-day and 200-day moving averages of roughly $46. The stock has a market capitalization of $14.05 billion.
• The company beat quarterly earnings expectations, reporting $1.07 in EPS versus the $0.91 consensus and $1.11 billion in revenue, though revenue declined 28.6% year over year. Director David Rubenstein sold 400,000 shares for about $17.1 million, while institutional investors collectively own 55.88% of the stock.

Carlyle Group (NASDAQ:CG - Get Free Report) was upgraded by investment analysts at Piper Sandler to a "strong-buy" rating in a note issued to investors on Thursday, Zacks reports.

Several other analysts have also recently issued reports on the stock. Citigroup reissued an "outperform" rating on shares of Carlyle Group in a research 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 note on Tuesday, August 11th. Wall Street Zen upgraded shares of Carlyle Group from a "sell" rating to a "hold" rating in a report on Saturday, August 29th. BMO Capital Markets restated an "outperform" rating and issued a $52.00 price target on shares of Carlyle Group in a research note on Monday, July 13th. Finally, Evercore set a $51.00 price objective on Carlyle Group in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $58.93.

Carlyle Group Stock Down 1.3%

Shares of NASDAQ CG opened at $39.42 on Thursday. The company has a market capitalization of $14.05 billion, a P/E ratio of 41.06, a P/E/G ratio of 1.26 and a beta of 1.84. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.35 and a quick ratio of 2.35. The company has a 50 day simple moving average of $46.03 and a 200-day simple moving average of $46.36. Carlyle Group has a 1 year low of $38.76 and a 1 year high of $67.30.

Carlyle Group (NASDAQ:CG - Get Free Report) last posted its earnings results on Tuesday, August 4th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts' expectations of $923.50 million. During the same quarter last year, the firm earned $0.87 earnings per share. The firm's quarterly revenue was down 28.6% compared to the same quarter last year. On average, equities research analysts predict that Carlyle Group will post 3.61 earnings per share for the current year.

Insider Activity at Carlyle Group

In related news, Director David Rubenstein sold 400,000 shares of the business's stock in a transaction on 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 transaction, the director 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 document filed with the SEC, which is accessible through the SEC website. Insiders own 25.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Carlyle Group by 22.7% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,254 shares of the financial services provider's stock valued at $221,000 after acquiring an additional 971 shares during the last quarter. National Pension Service boosted its holdings in Carlyle Group by 4.1% in the second quarter. National Pension Service now owns 15,875 shares of the financial services provider's stock valued at $668,000 after purchasing an additional 627 shares in the last quarter. GFG Capital LLC increased its stake in Carlyle Group by 4.3% in the second quarter. GFG Capital LLC now owns 51,942 shares of the financial services provider's stock valued at $2,187,000 after purchasing an additional 2,131 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in shares of Carlyle Group by 958.8% in the 2nd quarter. Squarepoint Ops LLC now owns 495,608 shares of the financial services provider's stock valued at $20,870,000 after buying an additional 448,801 shares in the last quarter. Finally, Arizona State Retirement System grew its position in shares of Carlyle Group by 17.5% in the 2nd quarter. Arizona State Retirement System now owns 75,075 shares of the financial services provider's stock valued at $3,161,000 after buying an additional 11,190 shares during the last quarter. 55.88% of the stock is owned by institutional investors and hedge funds.

Carlyle Group Company Profile

The Carlyle Group Inc NASDAQ: CG is a global investment firm that manages alternative assets for institutional investors, private wealth clients and other investors. The company invests across private equity, global credit and investment solutions, with strategies spanning corporate, real estate and infrastructure investments.

Carlyle's investment activities include acquiring and supporting companies through its corporate private equity platform, providing loans and other financing through its credit business, and managing portfolios of private market investments through its investment solutions platform.

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