Carlyle Group (NASDAQ:CG) Coverage Initiated by Analysts at Wells Fargo & Company

Investment analysts at Wells Fargo & Company initiated coverage on shares of Carlyle Group (NASDAQ:CG) in a report issued on Friday, Marketbeat reports. The firm set an “equal weight” rating and a $43.00 price target on the financial services provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 7.99% from the company’s current price.

A number of other research analysts have also weighed in on CG. BMO Capital Markets reissued an “outperform” rating and issued a $52.00 price objective on shares of Carlyle Group in a report on Monday, July 13th. UBS Group increased their price target on shares of Carlyle Group from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Piper Sandler started coverage on shares of Carlyle Group in a research note on Thursday, September 24th. They set an “overweight” rating and a $54.00 price objective for the company. Wall Street Zen raised shares of Carlyle Group from a “sell” rating to a “hold” rating in a report on Saturday, August 29th. Finally, Morgan Stanley set a $57.00 target price on shares of Carlyle Group in a research report on Tuesday, July 21st. Eight investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Carlyle Group currently has a consensus rating of “Hold” and a consensus target price of $57.87.

Carlyle Group Trading Down 1.4%

CG opened at $39.82 on Friday. 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 firm has a market cap of $14.19 billion, a price-to-earnings ratio of 41.48, a PEG ratio of 1.26 and a beta of 1.88. Carlyle Group has a 12 month low of $38.72 and a 12 month high of $67.30. The stock has a fifty day moving average price of $45.43 and a 200-day moving average price of $46.06.

Carlyle Group (NASDAQ:CG) last posted its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $1.07 earnings per share (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 business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $923.50 million. During the same quarter last year, the company posted $0.87 earnings per share. The business’s quarterly revenue was down 28.6% on a year-over-year basis. As a group, equities research analysts anticipate that Carlyle Group will post 3.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director David Rubenstein sold 400,000 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $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 can be accessed through the SEC website. Insiders own 25.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. boosted its position in shares of Carlyle Group by 22.7% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,254 shares of the financial services provider’s stock worth $221,000 after purchasing an additional 971 shares during the period. National Pension Service increased its holdings in Carlyle Group by 4.1% during the 2nd quarter. National Pension Service now owns 15,875 shares of the financial services provider’s stock worth $668,000 after purchasing an additional 627 shares during the period. GFG Capital LLC raised its position in Carlyle Group by 4.3% in the 2nd quarter. GFG Capital LLC now owns 51,942 shares of the financial services provider’s stock valued at $2,187,000 after purchasing an additional 2,131 shares in the last quarter. Squarepoint Ops LLC grew its position in shares of Carlyle Group by 958.8% during the second quarter. Squarepoint Ops LLC now owns 495,608 shares of the financial services provider’s stock worth $20,870,000 after buying an additional 448,801 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in Carlyle Group by 17.5% in the second quarter. Arizona State Retirement System now owns 75,075 shares of the financial services provider’s stock valued at $3,161,000 after acquiring an additional 11,190 shares in the last quarter. 55.88% of the stock is currently owned by institutional investors and hedge funds.

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.