Carlyle Group (NASDAQ:CG) Sets New 12-Month Low – Here’s What Happened

Carlyle Group Inc. (NASDAQ:CG)’s share price hit a new 52-week low on Thursday . The company traded as low as $38.86 and last traded at $39.1010, with a volume of 220933 shares changing hands. The stock had previously closed at $39.92.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CG. Evercore set a $51.00 price objective on shares of Carlyle Group in a report on Thursday, August 6th. BMO Capital Markets reissued an “outperform” rating and set a $52.00 target price on shares of Carlyle Group in a research report on Monday, July 13th. UBS Group upped their price target on Carlyle Group from $63.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Barclays lifted their price objective on Carlyle Group from $57.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Finally, Piper Sandler initiated coverage on Carlyle Group in a research report on Thursday. They set an “overweight” rating and a $54.00 price objective on the stock. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $58.93.

Carlyle Group Price Performance

The firm has a market cap of $14.09 billion, a P/E ratio of 41.32, a P/E/G ratio of 1.26 and a beta of 1.84. The company has a 50-day moving average of $46.18 and a 200 day moving average of $46.42. The company has a debt-to-equity ratio of 1.91, a quick ratio of 2.35 and a current ratio of 2.35.

Carlyle Group (NASDAQ:CG) last announced its 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. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $923.50 million. Carlyle Group had a net margin of 10.08% and a return on equity of 22.52%. The firm’s revenue for the quarter was down 28.6% on a year-over-year basis. During the same quarter last year, the company posted $0.87 EPS. On average, sell-side analysts anticipate that Carlyle Group Inc. will post 3.61 EPS for the current year.

Carlyle Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Monday, August 17th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Monday, August 17th. Carlyle Group’s dividend payout ratio (DPR) is currently 145.83%.

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 on Friday, September 11th. The stock was sold at an average price of $42.74, for a total value of $17,096,000.00. Following the transaction, the director owned 26,899,644 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 25.40% of the company’s stock.

Institutional Investors Weigh In On Carlyle Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Main Street Group LTD acquired a new position in shares of Carlyle Group during the first quarter worth approximately $27,000. Allworth Financial LP raised its position in Carlyle Group by 32.3% in the 4th quarter. Allworth Financial LP now owns 721 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 176 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its holdings in Carlyle Group by 50.6% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 955 shares of the financial services provider’s stock worth $56,000 after buying an additional 321 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position 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. Finally, Western Wealth Management LLC acquired a new stake in shares of Carlyle Group in the 1st quarter valued at $52,000. Institutional investors and hedge funds own 55.88% of the company’s stock.

About Carlyle Group

The Carlyle Group Inc (NASDAQ:CG) is a global investment firm that manages alternative assets for institutional investors, private wealth clients and other investors. The company invests across private equity, global credit and investment solutions, with strategies spanning corporate, real estate and infrastructure investments.

Carlyle’s investment activities include acquiring and supporting companies through its corporate private equity platform, providing loans and other financing through its credit business, and managing portfolios of private market investments through its investment solutions platform.