Carlyle Group (NASDAQ:CG) Price Target Lowered to $74.00 at Citigroup

Key Points

• Carlyle Group's price target was reduced from $75.00 to $74.00 by Citigroup, maintaining a "buy" rating, which suggests a potential upside of 27.52% from its current price.
• In addition to Citigroup, several other analysts have rated Carlyle Group, with seven giving it a "buy" and a consensus average target price of $61.47.
• Insider trading activity included the General Counsel selling over 202,606 shares worth approximately $13 million, which decreased their ownership by 21.20%.

Carlyle Group (NASDAQ:CG - Get Free Report) had its price target decreased by stock analysts at Citigroup from $75.00 to $74.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the financial services provider's stock. Citigroup's price target indicates a potential upside of 27.52% from the stock's current price.

CG has been the topic of several other research reports. JMP Securities increased their price target on Carlyle Group from $70.00 to $75.00 and gave the company a "market outperform" rating in a report on Thursday, August 14th. BMO Capital Markets began coverage on Carlyle Group in a research report on Friday, October 3rd. They issued an "outperform" rating and a $74.00 target price for the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Carlyle Group in a research report on Wednesday, October 8th. Barclays reissued an "overweight" rating and set a $74.00 price objective (up from $66.00) on shares of Carlyle Group in a report on Thursday, August 7th. Finally, Evercore ISI lifted their price objective on Carlyle Group from $45.00 to $58.00 and gave the company an "in-line" rating in a report on Thursday, July 10th. Seven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Carlyle Group currently has an average rating of "Hold" and an average target price of $61.47.

Carlyle Group Trading Up 3.4%

CG stock traded up $1.90 during mid-day trading on Monday, reaching $58.03. 1,326,300 shares of the stock traded hands, compared to its average volume of 2,872,587. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 1.52. Carlyle Group has a 52-week low of $33.02 and a 52-week high of $69.85. The company has a market cap of $20.99 billion, a P/E ratio of 16.97, a P/E/G ratio of 1.17 and a beta of 2.00. The stock's fifty day moving average is $63.87 and its 200-day moving average is $52.90.

Insider Buying and Selling

In related news, General Counsel Jeffrey W. Ferguson sold 202,606 shares of Carlyle Group stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $64.23, for a total value of $13,013,383.38. Following the completion of the sale, the general counsel directly owned 753,255 shares in the company, valued at $48,381,568.65. This trade represents a 21.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 26.30% of the stock is currently owned by insiders.

Institutional Trading of Carlyle Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sound Income Strategies LLC grew its position in shares of Carlyle Group by 2.5% during the 3rd quarter. Sound Income Strategies LLC now owns 91,892 shares of the financial services provider's stock worth $5,431,000 after buying an additional 2,225 shares during the period. Franklin Street Advisors Inc. NC grew its position in shares of Carlyle Group by 1.0% during the 3rd quarter. Franklin Street Advisors Inc. NC now owns 672,815 shares of the financial services provider's stock worth $42,185,000 after buying an additional 6,453 shares during the period. Guardian Financial Partners LLC acquired a new position in shares of Carlyle Group during the 3rd quarter worth about $208,000. Wedmont Private Capital grew its position in shares of Carlyle Group by 9.4% during the 3rd quarter. Wedmont Private Capital now owns 6,380 shares of the financial services provider's stock worth $393,000 after buying an additional 549 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new position in shares of Carlyle Group during the 3rd quarter valued at about $5,210,000. 55.88% of the stock is currently owned by institutional investors and hedge funds.

Carlyle Group Company Profile

The Carlyle Group Inc is an investment firm specializing in direct and fund of fund investments. Within direct investments, it specializes in management-led/ Leveraged buyouts, privatizations, divestitures, strategic minority equity investments, structured credit, global distressed and corporate opportunities, small and middle market, equity private placements, consolidations and buildups, senior debt, mezzanine and leveraged finance, and venture and growth capital financings, seed/startup, early venture, emerging growth, turnaround, mid venture, late venture, PIPES.

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