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

Carlyle Group (NASDAQ:CG) had its price target decreased by JPMorgan Chase & Co. from $67.00 to $66.00 in a report released on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the financial services provider’s stock.

A number of other equities analysts have also recently commented on CG. Royal Bank Of Canada assumed coverage on Carlyle Group in a research note on Monday, February 23rd. They issued an “outperform” rating and a $67.00 price target on the stock. TD Cowen lifted their price target on Carlyle Group from $65.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Morgan Stanley decreased their price target on Carlyle Group from $71.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 21st. Evercore set a $56.00 price target on Carlyle Group in a research note on Tuesday, April 21st. Finally, The Goldman Sachs Group decreased their price target on Carlyle Group from $81.00 to $69.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Nine investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $65.57.

Carlyle Group Stock Performance

Shares of NASDAQ CG opened at $49.44 on Thursday. The stock has a market cap of $17.86 billion, a price-to-earnings ratio of 22.68, a P/E/G ratio of 1.07 and a beta of 1.90. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 1.90. Carlyle Group has a 1-year low of $39.48 and a 1-year high of $69.85. The stock’s 50-day moving average is $49.02 and its 200 day moving average is $54.75.

Carlyle Group (NASDAQ:CG) last announced its quarterly 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). The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Carlyle Group had a return on equity of 23.62% and a net margin of 16.92%.Carlyle Group’s revenue for the quarter was up 84.1% on a year-over-year basis. During the same period last year, the firm earned $0.92 earnings per share. On average, sell-side analysts anticipate that Carlyle Group will post 4.41 EPS for the current fiscal year.

Carlyle Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Monday, February 16th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, February 13th. Carlyle Group’s dividend payout ratio (DPR) is currently 64.22%.

Insider Buying and Selling at Carlyle Group

In other news, Director David M. Rubenstein sold 500,000 shares of Carlyle Group stock in a transaction that occurred 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 approximately $1,279,015,381.92. This trade represents a 1.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 26.30% of the company’s stock.

Institutional Investors Weigh In On Carlyle Group

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Carlyle Group by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 26,368,246 shares of the financial services provider’s stock valued at $1,558,627,000 after purchasing an additional 934,237 shares in the last quarter. Morgan Stanley boosted its position in shares of Carlyle Group by 0.8% during the fourth quarter. Morgan Stanley now owns 10,189,948 shares of the financial services provider’s stock valued at $602,328,000 after purchasing an additional 84,228 shares in the last quarter. State Street Corp boosted its position in shares of Carlyle Group by 20.9% during the third quarter. State Street Corp now owns 9,942,135 shares of the financial services provider’s stock valued at $623,372,000 after purchasing an additional 1,720,483 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Carlyle Group by 1.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,735,298 shares of the financial services provider’s stock valued at $457,233,000 after purchasing an additional 117,223 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Carlyle Group by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 4,999,880 shares of the financial services provider’s stock valued at $294,817,000 after purchasing an additional 79,134 shares in the last quarter. 55.88% of the stock is currently owned by institutional investors.

Carlyle Group Company Profile

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.