The Carlyle Group (NASDAQ:CG) Price Target Cut to $48.00

The Carlyle Group (NASDAQ:CG) had its target price reduced by The Goldman Sachs Group from $54.00 to $48.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price target points to a potential upside of 16.90% from the company’s previous close.

Other analysts have also issued research reports about the stock. TD Cowen initiated coverage on shares of The Carlyle Group in a report on Thursday, January 4th. They set a “market perform” rating and a $42.00 target price on the stock. JPMorgan Chase & Co. increased their price objective on The Carlyle Group from $39.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. JMP Securities boosted their target price on The Carlyle Group from $52.00 to $58.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 8th. Barclays lifted their price target on The Carlyle Group from $55.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Finally, Oppenheimer lowered their target price on shares of The Carlyle Group from $74.00 to $68.00 and set an “outperform” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $44.25.

The Carlyle Group Stock Performance

CG stock traded up $0.48 during midday trading on Thursday, reaching $41.06. 2,767,766 shares of the company’s stock traded hands, compared to its average volume of 2,097,171. The Carlyle Group has a 52 week low of $25.20 and a 52 week high of $48.52. The company has a 50-day moving average price of $45.75 and a two-hundred day moving average price of $40.02. The company has a debt-to-equity ratio of 1.53, a quick ratio of 2.27 and a current ratio of 2.53. The firm has a market capitalization of $14.87 billion, a PE ratio of -22.94, a price-to-earnings-growth ratio of 0.86 and a beta of 1.77.

The Carlyle Group (NASDAQ:CG) last issued its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.09. The Carlyle Group had a positive return on equity of 23.92% and a negative net margin of 23.04%. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $986.10 million. During the same quarter in the prior year, the firm posted $0.63 EPS. The firm’s quarterly revenue was up 35.6% on a year-over-year basis. As a group, equities analysts anticipate that The Carlyle Group will post 3.98 EPS for the current year.

Insider Activity

In related news, major shareholder Carlyle Group Inc. acquired 190,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was purchased at an average price of $12.95 per share, with a total value of $2,460,500.00. Following the completion of the purchase, the insider now owns 1,066,189 shares in the company, valued at approximately $13,807,147.55. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 27.20% of the stock is currently owned by corporate insiders.

Institutional Trading of The Carlyle Group

Large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in The Carlyle Group by 7.6% in the fourth quarter. Vanguard Group Inc. now owns 24,876,188 shares of the financial services provider’s stock valued at $1,012,212,000 after acquiring an additional 1,756,189 shares in the last quarter. William Blair Investment Management LLC boosted its position in The Carlyle Group by 65.9% during the 3rd quarter. William Blair Investment Management LLC now owns 8,877,428 shares of the financial services provider’s stock valued at $267,743,000 after acquiring an additional 3,524,794 shares in the last quarter. Ariel Investments LLC grew its holdings in shares of The Carlyle Group by 16.9% during the 3rd quarter. Ariel Investments LLC now owns 6,364,528 shares of the financial services provider’s stock worth $191,954,000 after acquiring an additional 918,114 shares during the period. Norges Bank purchased a new position in shares of The Carlyle Group in the 4th quarter valued at approximately $130,771,000. Finally, Goldman Sachs Group Inc. grew its stake in The Carlyle Group by 194.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,593,761 shares of the financial services provider’s stock worth $105,540,000 after purchasing an additional 1,712,133 shares during the period. 55.88% of the stock is owned by institutional investors.

About The Carlyle Group

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.