The Carlyle Group (NASDAQ:CG) Now Covered by Citigroup

Posted by on May 20th, 2023

Citigroup started coverage on shares of The Carlyle Group (NASDAQ:CG – Get Rating) in a research note issued on Thursday, The Fly reports. The brokerage set a “buy” rating and a $40.00 price target on the financial services provider’s stock. Citigroup’s price objective suggests a potential upside of 46.52% from the company’s previous close.

CG has been the topic of a number of other reports. BMO Capital Markets decreased their target price on The Carlyle Group from $44.00 to $37.00 in a research report on Friday, May 5th. Morgan Stanley dropped their target price on shares of The Carlyle Group from $37.00 to $35.00 and set an “equal weight” rating for the company in a report on Wednesday, April 19th. 500.com reaffirmed a “maintains” rating on shares of The Carlyle Group in a report on Friday, May 5th. Oppenheimer raised their price objective on shares of The Carlyle Group from $64.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, April 13th. Finally, The Goldman Sachs Group increased their target price on The Carlyle Group from $37.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, February 9th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.18.

The Carlyle Group Price Performance

Shares of CG opened at $27.30 on Thursday. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.82 and a quick ratio of 2.80. The Carlyle Group has a 1-year low of $24.59 and a 1-year high of $40.73. The stock has a market cap of $9.89 billion, a PE ratio of 13.19 and a beta of 1.67. The firm has a fifty day moving average price of $29.35 and a 200 day moving average price of $31.02.

The Carlyle Group (NASDAQ:CG – Get Rating) last announced its earnings results on Thursday, May 4th. The financial services provider reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). The Carlyle Group had a net margin of 20.29% and a return on equity of 25.89%. The business had revenue of $754.20 million during the quarter, compared to analyst estimates of $805.50 million. During the same period in the previous year, the firm earned $0.74 earnings per share. The business’s revenue was down 3.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Carlyle Group will post 3.01 EPS for the current year.

Insider Activity

In other news, major shareholder Carlyle Group Inc. sold 2,000,000 shares of The Carlyle Group stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $86.12, for a total transaction of $172,240,000.00. Following the completion of the sale, the insider now directly owns 6,482,732 shares in the company, valued at approximately $558,292,879.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 27.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CG. BlackRock Inc. raised its stake in The Carlyle Group by 39.1% during the 1st quarter. BlackRock Inc. now owns 18,573,738 shares of the financial services provider’s stock valued at $576,900,000 after purchasing an additional 5,223,114 shares during the last quarter. Beutel Goodman & Co Ltd. bought a new stake in shares of The Carlyle Group in the third quarter valued at about $106,404,000. Norges Bank acquired a new stake in The Carlyle Group during the fourth quarter worth about $102,358,000. Ariel Investments LLC acquired a new position in The Carlyle Group in the 4th quarter valued at approximately $87,324,000. Finally, William Blair Investment Management LLC bought a new stake in shares of The Carlyle Group in the 4th quarter worth approximately $84,912,000. Institutional investors own 52.69% of the company’s stock.

About The Carlyle Group

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The Carlyle Group, Inc engages in multi-product global alternative asset management. It operates through the following segments: Corporate Private Equity, Real Assets, Global Credit, and Investment Solutions. The Corporate Private Equity segment focuses on buyout, and growth capital funds, which pursue a variety of corporate investments of different sizes and growth potentials.

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