Carlyle Group (NASDAQ:CG) Sets New 1-Year Low - Here's Why

Key Points

• Carlyle Group shares hit a new 52-week low, falling to $39.58 and last trading at $39.44, well below their 50-day and 200-day moving averages near $47.
• Analyst sentiment is mixed, with an average rating of “Hold” and a consensus price target of $59.31; individual targets range from $50 to $73.
• The company beat quarterly earnings and revenue expectations, reporting $1.07 in adjusted EPS and $1.11 billion in revenue, but revenue declined 28.6% year over year. Carlyle also pays a $0.35 quarterly dividend, representing a 3.5% yield.

Carlyle Group Inc. (NASDAQ:CG - Get Free Report) shares reached a new 52-week low on Wednesday . The stock traded as low as $39.58 and last traded at $39.44, with a volume of 2218268 shares traded. The stock had previously closed at $41.42.

Analysts Set New Price Targets

Several research firms have recently commented on CG. Morgan Stanley set a $57.00 price objective on Carlyle Group in a research note on Tuesday, July 21st. Keefe, Bruyette & Woods upped their price target on Carlyle Group from $47.00 to $50.00 and gave the stock a "market perform" rating in a research report on Thursday, August 6th. Citigroup reaffirmed an "outperform" rating on shares of Carlyle Group in a research note on Thursday, August 6th. Citizens Jmp boosted their price objective on Carlyle Group from $70.00 to $73.00 and gave the company a "market outperform" rating in a research note on Thursday, August 6th. Finally, Weiss Ratings raised shares of Carlyle Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $59.31.

Carlyle Group Price Performance

The stock has a 50 day simple moving average of $46.70 and a 200-day simple moving average of $46.94. The firm has a market cap of $14.23 billion, a PE ratio of 41.53, a price-to-earnings-growth ratio of 1.29 and a beta of 1.84. 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 (NASDAQ:CG - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.16. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $923.50 million. Carlyle Group had a return on equity of 22.52% and a net margin of 10.08%.The business's quarterly revenue was down 28.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.87 earnings per share. Equities analysts anticipate that Carlyle Group Inc. will post 3.65 earnings per share for the current fiscal year.

Carlyle Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Monday, August 17th were given a dividend of $0.35 per share. The ex-dividend date was Monday, August 17th. This represents a $1.40 annualized dividend and a dividend yield of 3.5%. Carlyle Group's dividend payout ratio (DPR) is presently 145.83%.

Insider Buying and Selling at Carlyle Group

In related news, Director David Rubenstein sold 400,000 shares of the company'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. This represents 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. Corporate insiders own 25.40% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CG. BlackRock Inc. purchased a new stake in shares of Carlyle Group in the second quarter worth about $1,346,848,000. William Blair Investment Management LLC purchased a new stake in shares of Carlyle Group during the 2nd quarter worth approximately $249,077,000. Geode Capital Management LLC boosted its position in shares of Carlyle Group by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 4,999,880 shares of the financial services provider's stock valued at $294,817,000 after acquiring an additional 79,134 shares during the last quarter. Norges Bank purchased a new position in shares of Carlyle Group in the fourth quarter valued at $288,257,000. Finally, Legal & General Group Plc bought a new stake in Carlyle Group in the second quarter worth $162,984,000. Institutional investors own 55.88% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.