TD Cowen Has Lowered Expectations for Carlyle Group (NASDAQ:CG) Stock Price

Carlyle Group (NASDAQ:CG) had its price target decreased by equities researchers at TD Cowen from $54.00 to $42.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “hold” rating on the financial services provider’s stock. TD Cowen’s price objective indicates a potential upside of 9.30% from the stock’s current price.

CG has been the topic of a number of other research reports. 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 report on Thursday, August 6th. Barclays reduced their price objective on Carlyle Group from $64.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday. Weiss Ratings raised Carlyle Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Wells Fargo & Company assumed coverage on Carlyle Group in a research note on Friday, October 2nd. They issued an “equal weight” rating and a $43.00 target price on the stock. Finally, Royal Bank Of Canada lowered their target price on Carlyle Group from $58.00 to $48.00 and set a “sector perform” rating on the stock in a research note on Monday, October 5th. Eight research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $56.07.

Carlyle Group Stock Performance

NASDAQ CG traded up $0.01 during trading hours on Monday, reaching $38.43. 596,542 shares of the company were exchanged, compared to its average volume of 3,402,313. Carlyle Group has a 1 year low of $37.08 and a 1 year high of $67.30. The business’s 50 day simple moving average is $44.71 and its 200-day simple moving average is $45.74. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 1.91. The stock has a market capitalization of $13.69 billion, a P/E ratio of 40.03, a P/E/G ratio of 1.12 and a beta of 1.88.

Carlyle Group (NASDAQ:CG) last announced its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $0.91 by $0.16. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $923.50 million. Carlyle Group had a net margin of 10.08% and a return on equity of 22.52%. The company’s revenue for the quarter was down 28.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 earnings per share. On average, equities research analysts expect that Carlyle Group will post 3.58 earnings per share for the current year.

Insider Activity

In other news, Director David Rubenstein sold 400,000 shares of the stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $42.74, for a total value of $17,096,000.00. Following the sale, the director directly owned 26,899,644 shares of the company’s stock, 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 filing with the SEC, which can be accessed through the SEC website. Insiders own 25.40% of the company’s stock.

Institutional Trading of Carlyle Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new position in Carlyle Group in the 2nd quarter valued at $1,346,848,000. William Blair Investment Management LLC purchased a new position in shares of Carlyle Group during the 2nd quarter valued at $249,077,000. Legal & General Group Plc bought a new position in shares of Carlyle Group in the second quarter worth $162,984,000. Amundi increased its holdings in shares of Carlyle Group by 419.0% in the second quarter. Amundi now owns 3,406,001 shares of the financial services provider’s stock worth $143,427,000 after purchasing an additional 2,749,781 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Carlyle Group in the second quarter worth $84,540,000. Institutional investors own 55.88% of the company’s stock.

Carlyle Group Company Profile

The Carlyle Group Inc is a global alternative asset management firm that invests across private equity, credit and investment solutions. The company manages funds and investment vehicles for institutional investors, private wealth clients and other investors, with strategies focused on private markets and long-term value creation.

Carlyle’s investment activities include corporate buyouts, growth capital, middle-market lending, structured credit, real assets and secondaries. Through its investment solutions business, the firm also provides access to private-market strategies and manages portfolios of private equity interests and other alternative investments.

Founded in 1987 by William E.