The Carlyle Group (NASDAQ:CG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday, Zacks.com reports.
According to Zacks, “The Carlyle Group Inc. is an investment firm. The Company manages an investment vehicle segment which includes corporate private equity, real assets, global credit and investment solutions. The Carlyle Group Inc. is based in Washington, United States. “
A number of other equities analysts have also recently issued reports on the stock. BidaskClub raised shares of The Carlyle Group from a “hold” rating to a “buy” rating in a report on Friday, December 18th. Morgan Stanley raised their target price on shares of The Carlyle Group from $30.00 to $31.00 and gave the stock an “equal weight” rating in a report on Monday, November 2nd. Citigroup raised shares of The Carlyle Group from a “neutral” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Monday, October 12th. Bank of America raised shares of The Carlyle Group from an “underperform” rating to a “buy” rating and raised their target price for the stock from $30.00 to $35.00 in a report on Friday, November 20th. Finally, Credit Suisse Group lifted their price target on The Carlyle Group from $31.00 to $33.00 and gave the company a “neutral” rating in a report on Tuesday, November 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. The Carlyle Group has an average rating of “Hold” and an average price target of $29.31.
NASDAQ:CG traded up $0.16 during mid-day trading on Wednesday, reaching $31.42. The stock had a trading volume of 406,617 shares, compared to its average volume of 1,963,058. The company has a market capitalization of $11.10 billion, a price-to-earnings ratio of -51.51 and a beta of 1.40. The Carlyle Group has a 1-year low of $15.21 and a 1-year high of $34.98. The stock’s 50 day simple moving average is $29.30 and its two-hundred day simple moving average is $27.63. The company has a debt-to-equity ratio of 2.98, a current ratio of 2.37 and a quick ratio of 2.37.
The Carlyle Group (NASDAQ:CG) last posted its quarterly earnings results on Thursday, October 29th. The financial services provider reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.04. The Carlyle Group had a positive return on equity of 25.90% and a negative net margin of 5.38%. The business had revenue of $496.50 million during the quarter, compared to the consensus estimate of $489.84 million. During the same period last year, the firm earned $0.41 earnings per share. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. Sell-side analysts anticipate that The Carlyle Group will post 1.81 EPS for the current fiscal year.
In other The Carlyle Group news, insider David M. Rubenstein sold 750,000 shares of The Carlyle Group stock in a transaction that occurred on Thursday, December 10th. The shares were sold at an average price of $29.05, for a total value of $21,787,500.00. Following the transaction, the insider now owns 42,249,644 shares in the company, valued at $1,227,352,158.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder David M. Rubenstein sold 2,000,000 shares of The Carlyle Group stock in a transaction that occurred on Tuesday, November 24th. The stock was sold at an average price of $27.30, for a total transaction of $54,600,000.00. The disclosure for this sale can be found here.
A number of hedge funds and other institutional investors have recently bought and sold shares of CG. UBS Asset Management Americas Inc. grew its holdings in shares of The Carlyle Group by 95.6% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 469,417 shares of the financial services provider’s stock valued at $11,581,000 after purchasing an additional 229,407 shares during the last quarter. Truist Financial Corp lifted its holdings in shares of The Carlyle Group by 6.9% in the third quarter. Truist Financial Corp now owns 28,599 shares of the financial services provider’s stock worth $705,000 after buying an additional 1,856 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of The Carlyle Group by 1.8% in the third quarter. California State Teachers Retirement System now owns 216,521 shares of the financial services provider’s stock worth $5,342,000 after buying an additional 3,745 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of The Carlyle Group by 13.3% in the third quarter. JPMorgan Chase & Co. now owns 435,011 shares of the financial services provider’s stock worth $10,705,000 after buying an additional 51,204 shares in the last quarter. Finally, KAMES CAPITAL plc lifted its holdings in shares of The Carlyle Group by 7.4% in the third quarter. KAMES CAPITAL plc now owns 71,633 shares of the financial services provider’s stock worth $1,766,000 after buying an additional 4,906 shares in the last quarter. Hedge funds and other institutional investors own 29.10% of the company’s stock.
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.
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