JPMorgan Chase & Co. Issues Pessimistic Forecast for Carlyle Group (NASDAQ:CG) Stock Price

Carlyle Group (NASDAQ:CG) had its target price dropped by equities research analysts at JPMorgan Chase & Co. from $67.00 to $66.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 33.50% from the company’s current price.

A number of other analysts also recently commented on the stock. Royal Bank Of Canada assumed coverage on shares of Carlyle Group in a report on Monday, February 23rd. They set an “outperform” rating and a $67.00 price objective on the stock. Morgan Stanley reduced their price target on shares of Carlyle Group from $71.00 to $66.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 21st. Wolfe Research restated an “outperform” rating on shares of Carlyle Group in a report on Wednesday, January 7th. The Goldman Sachs Group reduced their price objective on Carlyle Group from $81.00 to $69.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Finally, BMO Capital Markets lowered their target price on Carlyle Group from $65.00 to $58.00 and set an “outperform” rating on the stock in a report on Tuesday, March 24th. Nine analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $65.57.

Carlyle Group Trading Down 1.3%

Shares of CG stock opened at $49.44 on Thursday. The business’s fifty day moving average price is $49.02 and its 200 day moving average price is $54.78. The firm has a market capitalization of $17.86 billion, a PE ratio of 22.68, a P/E/G ratio of 1.08 and a beta of 1.90. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.33 and a quick ratio of 2.33. Carlyle Group has a 1-year low of $39.48 and a 1-year high of $69.85.

Carlyle Group (NASDAQ:CG) last released its earnings results on Thursday, February 5th. The financial services provider reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.03). Carlyle Group had a net margin of 16.92% and a return on equity of 23.62%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the business posted $0.92 EPS. Carlyle Group’s revenue was up 84.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Carlyle Group will post 4.41 EPS for the current fiscal year.

Insider Buying and Selling at Carlyle Group

In other news, Director David M. Rubenstein sold 500,000 shares of the company’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $46.68, for a total value of $23,340,000.00. Following the sale, the director directly owned 27,399,644 shares in the company, valued at $1,279,015,381.92. This represents a 1.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 26.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. WFA of San Diego LLC purchased a new stake in shares of Carlyle Group during the second quarter worth about $26,000. Geneos Wealth Management Inc. boosted its position in Carlyle Group by 755.3% during the first quarter. Geneos Wealth Management Inc. now owns 650 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 574 shares during the last quarter. Bernard Wealth Management Corp. purchased a new stake in Carlyle Group in the 4th quarter worth approximately $30,000. Quarry LP acquired a new position in Carlyle Group in the 3rd quarter valued at $33,000. Finally, Motco acquired a new position in Carlyle Group in the third quarter valued at $40,000. 55.88% of the stock is currently owned by hedge funds and other institutional investors.

About Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager that invests across a range of strategies including private equity, real assets (such as real estate and infrastructure), global credit, and investment solutions. Founded in 1987 and headquartered in Washington, DC, Carlyle raises and manages investment funds that acquire, operate and exit companies and assets on behalf of institutional and private investors. The firm is publicly traded on the Nasdaq exchange and operates as an asset manager and investment advisor rather than as an operating company.

Carlyle’s core activities include sourcing and executing private equity buyouts and growth investments, originating and managing credit and financing solutions, and acquiring and operating real asset portfolios.