JPMorgan Chase & Co. Cuts Carlyle Group (NASDAQ:CG) Price Target to $66.00

Carlyle Group (NASDAQ:CG) had its price target cut by equities researchers at JPMorgan Chase & Co. from $68.00 to $66.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 24.09% from the stock’s previous close.

CG has been the subject of several other reports. BMO Capital Markets began coverage on Carlyle Group in a research report on Friday, October 3rd. They issued an “outperform” rating and a $74.00 target price for the company. Barclays reaffirmed an “overweight” rating and set a $74.00 target price (up from $66.00) on shares of Carlyle Group in a research report on Thursday, August 7th. JMP Securities raised their price objective on Carlyle Group from $70.00 to $75.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 14th. Weiss Ratings restated a “hold (c)” rating on shares of Carlyle Group in a report on Wednesday, October 8th. Finally, Wells Fargo & Company lifted their target price on shares of Carlyle Group from $49.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Friday, July 11th. Seven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $64.71.

Carlyle Group Price Performance

Shares of CG traded down $0.13 during trading hours on Monday, reaching $53.19. The stock had a trading volume of 3,405,144 shares, compared to its average volume of 2,868,808. Carlyle Group has a 12 month low of $33.02 and a 12 month high of $69.85. The stock has a market capitalization of $19.24 billion, a PE ratio of 15.55, a PEG ratio of 1.22 and a beta of 2.00. The company has a debt-to-equity ratio of 1.52, a quick ratio of 2.24 and a current ratio of 2.24. The company’s 50-day moving average is $62.32 and its two-hundred day moving average is $54.99.

Insider Activity at Carlyle Group

In other news, General Counsel Jeffrey W. Ferguson sold 202,606 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $64.23, for a total transaction of $13,013,383.38. Following the completion of the sale, the general counsel owned 753,255 shares in the company, valued at $48,381,568.65. The trade was a 21.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 26.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Carlyle Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC lifted its holdings in shares of Carlyle Group by 18.2% during the second quarter. Farther Finance Advisors LLC now owns 1,150 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 177 shares during the last quarter. Wedmont Private Capital raised its stake in Carlyle Group by 3.5% during the second quarter. Wedmont Private Capital now owns 5,831 shares of the financial services provider’s stock valued at $332,000 after buying an additional 196 shares during the last quarter. DMC Group LLC raised its position in shares of Carlyle Group by 3.2% in the 3rd quarter. DMC Group LLC now owns 6,594 shares of the financial services provider’s stock worth $413,000 after purchasing an additional 205 shares during the last quarter. Verdence Capital Advisors LLC raised its position in shares of Carlyle Group by 1.8% in the 2nd quarter. Verdence Capital Advisors LLC now owns 11,673 shares of the financial services provider’s stock worth $600,000 after purchasing an additional 212 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG raised its position in shares of Carlyle Group by 3.5% in the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 6,365 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 215 shares during the last quarter. Institutional investors own 55.88% of the company’s stock.

About 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.