The Goldman Sachs Group Issues Pessimistic Forecast for Carlyle Group (NASDAQ:CG) Stock Price

Carlyle Group (NASDAQ:CG) had its price objective reduced by research analysts at The Goldman Sachs Group from $66.00 to $58.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group‘s target price points to a potential upside of 37.96% from the stock’s current price.

Several other research firms have also recently weighed in on CG. Wells Fargo & Company initiated coverage on shares of Carlyle Group in a research report on Friday, October 2nd. They set an “equal weight” rating and a $43.00 price objective on the stock. Citigroup reaffirmed an “outperform” rating on shares of Carlyle Group in a research report on Thursday, August 6th. UBS Group downgraded Carlyle Group from a “buy” rating to a “neutral” rating and lowered their price target for the company from $60.00 to $47.00 in a report on Tuesday. Keefe, Bruyette & Woods upped their price target on Carlyle Group from $47.00 to $50.00 and gave the company a “market perform” rating in a research report on Thursday, August 6th. Finally, Evercore set a $42.00 price objective on Carlyle Group in a research note on Friday. Seven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $50.21.

Carlyle Group Trading Down 0.6%

Shares of Carlyle Group stock traded down $0.27 during trading on Tuesday, hitting $42.04. The stock had a trading volume of 725,005 shares, compared to its average volume of 3,408,066. Carlyle Group has a 1 year low of $35.41 and a 1 year high of $67.30. The stock has a 50 day simple moving average of $40.51 and a 200 day simple moving average of $46.65. 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 company has a market capitalization of $14.98 billion, a PE ratio of 44.73, a P/E/G ratio of 1.37 and a beta of 1.84.

Insider Transactions at Carlyle Group

In other Carlyle Group news, Director David Rubenstein sold 400,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director directly owned 26,899,644 shares of the company’s stock, valued at $1,149,690,784.56. The trade was a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 25.40% of the stock is owned by company insiders.

Institutional Trading of Carlyle Group

Large investors have recently made changes to their positions in the stock. Intech Investment Management LLC bought a new stake in shares of Carlyle Group during the third quarter valued at approximately $428,000. Hantz Financial Services Inc. boosted its stake in Carlyle Group by 13.4% during the third quarter. Hantz Financial Services Inc. now owns 7,609 shares of the financial services provider’s stock worth $302,000 after buying an additional 902 shares in the last quarter. Harbour Investments Inc. boosted its stake in Carlyle Group by 29.4% during the third quarter. Harbour Investments Inc. now owns 1,052 shares of the financial services provider’s stock worth $42,000 after buying an additional 239 shares in the last quarter. Diversified Trust Co increased its holdings in Carlyle Group by 63.0% in the 3rd quarter. Diversified Trust Co now owns 47,473 shares of the financial services provider’s stock valued at $1,883,000 after buying an additional 18,340 shares during the period. Finally, William Blair Investment Management LLC raised its stake in shares of Carlyle Group by 15.3% in the 3rd quarter. William Blair Investment Management LLC now owns 6,821,563 shares of the financial services provider’s stock valued at $270,543,000 after buying an additional 906,658 shares in the last quarter. Institutional investors own 55.88% of the company’s stock.

Carlyle Group Company Profile

The Carlyle Group Inc. is a global alternative asset manager that invests on behalf of institutional and individual clients. Its business includes private equity, credit and investment solutions, including portfolios of private equity funds and related investments. Founded in Washington, D.C., in 1987, Carlyle has grown into an international firm with investment activities and offices across North America, Europe and Asia, among other regions. Its strategies span a range of industries and markets, and it works with businesses at different stages of development.