Wells Fargo & Company Cuts The Carlyle Group (NASDAQ:CG) Price Target to $39.00

The Carlyle Group (NASDAQ:CG) had its price target cut by Wells Fargo & Company from $48.00 to $39.00 in a research report report published on Tuesday,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

CG has been the subject of several other research reports. Bank of America lowered their price objective on The Carlyle Group from $47.00 to $46.00 and set an “underperform” rating for the company in a research report on Friday, April 4th. Oppenheimer cut shares of The Carlyle Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 19th. StockNews.com cut shares of The Carlyle Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Citigroup dropped their target price on shares of The Carlyle Group from $55.00 to $39.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, Wolfe Research upgraded The Carlyle Group from a “peer perform” rating to an “outperform” rating and set a $60.00 price target on the stock in a report on Friday, January 3rd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $51.76.

The Carlyle Group Trading Down 4.1 %

Shares of CG opened at $35.42 on Tuesday. The Carlyle Group has a fifty-two week low of $33.02 and a fifty-two week high of $57.50. The firm has a market cap of $12.79 billion, a price-to-earnings ratio of 12.74, a PEG ratio of 0.98 and a beta of 1.72. The firm has a 50 day moving average price of $46.58 and a 200-day moving average price of $49.40. The company has a debt-to-equity ratio of 1.42, a quick ratio of 2.32 and a current ratio of 2.32.

The Carlyle Group (NASDAQ:CG) last posted its quarterly earnings results on Monday, February 10th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.08). The Carlyle Group had a net margin of 18.81% and a return on equity of 24.02%. As a group, equities research analysts forecast that The Carlyle Group will post 4.48 earnings per share for the current year.

The Carlyle Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 21st were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend was Friday, February 21st. The Carlyle Group’s dividend payout ratio is presently 50.36%.

Hedge Funds Weigh In On The Carlyle Group

Several large investors have recently made changes to their positions in the business. National Pension Service purchased a new position in shares of The Carlyle Group in the 4th quarter worth about $25,000. Golden State Wealth Management LLC bought a new stake in The Carlyle Group during the 4th quarter valued at about $25,000. Valley National Advisers Inc. lifted its stake in shares of The Carlyle Group by 149.3% in the fourth quarter. Valley National Advisers Inc. now owns 546 shares of the financial services provider’s stock worth $27,000 after buying an additional 327 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of The Carlyle Group by 253.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 565 shares of the financial services provider’s stock valued at $29,000 after buying an additional 405 shares during the last quarter. Finally, Main Street Group LTD purchased a new position in The Carlyle Group in the 4th quarter worth approximately $29,000. 55.88% of the stock is currently owned by hedge funds and other institutional investors.

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.