Carlyle Group (NASDAQ:CG) Share Price Breaks Above 50-Day Moving Average - What's Next?

Key Points

• Carlyle shares rose 4.5% and moved above their 50-day moving average, trading at $42.75 versus the average of $41.01.
• Analysts are mixed: eight rate the stock Buy, eight Hold, and one Sell; the consensus rating is Hold with an average price target of $53.
• Quarterly results beat expectations, with EPS of $1.07 versus $0.91 forecast and revenue of $1.11 billion versus $923.5 million expected, though revenue fell 28.6% year over year.

Carlyle Group Inc. (NASDAQ:CG - Get Free Report)'s share price crossed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $41.01 and traded as high as $42.90. Carlyle Group shares last traded at $42.75, with a volume of 6,488,804 shares changing hands.

Wall Street Analysts Forecast Growth

CG has been the subject of a number of recent analyst reports. 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 target price for the company. UBS Group lowered their target price on shares of Carlyle Group from $70.00 to $60.00 and set a "buy" rating on the stock in a research note on Tuesday, October 13th. Keefe, Bruyette & Woods raised their price target on shares of Carlyle Group from $47.00 to $50.00 and gave the company a "market perform" rating in a report on Thursday, August 6th. Citizens Jmp lifted their price target on shares of Carlyle Group from $70.00 to $73.00 and gave the stock a "market outperform" rating in a research note on Thursday, August 6th. Finally, Evercore set a $51.00 price objective on shares of Carlyle Group in a report on Thursday, August 6th. Eight analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $53.00.

Carlyle Group Trading Up 4.5%

The stock has a market capitalization of $15.23 billion, a PE ratio of 44.53, a P/E/G ratio of 1.32 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. The stock has a 50 day moving average price of $41.01 and a 200-day moving average price of $46.99.

Carlyle Group (NASDAQ:CG - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $1.07 EPS for the quarter, beating analysts' consensus estimates 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 in the prior year, the business earned $0.87 earnings per share. Carlyle Group's revenue for the quarter was down 28.6% compared to the same quarter last year. Sell-side analysts expect that Carlyle Group Inc. will post 3.53 earnings per share for the current year.

Insider Activity

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 stock was 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 directly owned 26,899,644 shares in the company, valued at $1,149,690,784.56. The trade was a 1.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 25.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Carlyle Group

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Carlyle Group in the 2nd quarter worth $1,346,848,000. William Blair Investment Management LLC purchased a new stake in Carlyle Group in the 2nd quarter worth $249,077,000. Legal & General Group Plc bought a new stake in Carlyle Group during the second quarter valued at about $162,984,000. Amundi raised its holdings in Carlyle Group by 419.0% during the second quarter. Amundi now owns 3,406,001 shares of the financial services provider's stock valued at $143,427,000 after acquiring an additional 2,749,781 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Carlyle Group by 1.1% in the first quarter. Bank of New York Mellon Corp now owns 2,047,650 shares of the financial services provider's stock valued at $99,086,000 after acquiring an additional 23,065 shares in 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 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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