TD Cowen Issues Pessimistic Forecast for Carlyle Group (NASDAQ:CG) Stock Price

Carlyle Group (NASDAQ:CG) had its price objective decreased by analysts at TD Cowen from $54.00 to $42.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “hold” rating on the financial services provider’s stock. TD Cowen’s target price points to a potential upside of 12.78% from the company’s previous close.

CG has been the topic of several other reports. Wells Fargo & Company initiated coverage on shares of Carlyle Group in a research note on Friday, October 2nd. They set an “equal weight” rating and a $43.00 price target on the stock. Royal Bank Of Canada dropped their price objective on shares of Carlyle Group from $58.00 to $48.00 and set a “sector perform” rating for the company in a research report on Monday, October 5th. Keefe, Bruyette & Woods boosted their price objective on shares of Carlyle Group from $47.00 to $50.00 and gave the stock a “market perform” rating in a research report on Thursday, August 6th. Piper Sandler began coverage on Carlyle Group in a report on Thursday, September 24th. They set an “overweight” rating and a $54.00 price objective on the stock. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $52.00 target price on shares of Carlyle Group in a research note on Monday, July 13th. Eight investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $55.40.

Carlyle Group Stock Down 2.6%

Shares of NASDAQ CG opened at $37.24 on Monday. The firm’s 50-day simple moving average is $44.23 and its 200 day simple moving average is $45.61. The company has a market cap of $13.27 billion, a price-to-earnings ratio of 38.79, a price-to-earnings-growth ratio of 1.12 and a beta of 1.88. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 1.91. Carlyle Group has a 12-month low of $37.05 and a 12-month high of $67.30.

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

Insiders Place Their Bets

In other news, Director David Rubenstein sold 400,000 shares of Carlyle Group 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 transaction, the director directly owned 26,899,644 shares of the company’s stock, valued at $1,149,690,784.56. This trade represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 25.40% of the company’s stock.

Institutional Trading of Carlyle Group

A number of large investors have recently bought and sold shares of CG. Main Street Group LTD acquired a new position in shares of Carlyle Group during the 1st quarter worth about $27,000. Allworth Financial LP bought a new position in Carlyle Group during the second quarter worth $35,000. MassMutual Private Wealth & Trust FSB grew its stake in Carlyle Group by 36.6% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 962 shares of the financial services provider’s stock valued at $41,000 after buying an additional 258 shares during the last quarter. Western Wealth Management LLC acquired a new position in shares of Carlyle Group in the first quarter valued at approximately $52,000. Finally, GHP Investment Advisors Inc. acquired a new position in Carlyle Group in the 1st quarter valued at $57,000. 55.88% of the stock is owned by institutional investors.

About Carlyle Group

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.