Carlyle Group (NASDAQ:CG) Given New $66.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan cut its price target on Carlyle Group to $66 from $67 and maintained a "neutral" rating, with the new target implying about a 31.8% upside from the prior close.
• The stock carries a consensus "Moderate Buy" rating with an average analyst target of $65.57, while shares traded around $50.07 (52‑week range $38.36–$69.85) and a P/E of 22.97.
• Director David M. Rubenstein sold 500,000 shares for roughly $23.34 million; insiders own about 26.3% of the company and institutional investors hold ~55.9%.

Carlyle Group (NASDAQ:CG - Get Free Report) had its price objective reduced by stock 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 currently has a "neutral" rating on the financial services provider's stock. JPMorgan Chase & Co.'s target price points to a potential upside of 31.82% from the company's previous close.

CG has been the subject of a number of other reports. Wolfe Research reiterated an "outperform" rating on shares of Carlyle Group in a research report on Wednesday, January 7th. Evercore set a $56.00 price objective on shares of Carlyle Group in a research report on Tuesday, April 21st. Morgan Stanley lowered their price objective 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. BMO Capital Markets lowered their price objective on shares of Carlyle Group from $65.00 to $58.00 and set an "outperform" rating for the company in a research report on Tuesday, March 24th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Carlyle Group in a research report on Wednesday, January 21st. Nine research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $65.57.

Carlyle Group Price Performance

Shares of NASDAQ:CG traded up $2.26 during midday trading on Thursday, hitting $50.07. The stock had a trading volume of 3,722,569 shares, compared to its average volume of 3,213,662. The company's 50-day moving average price is $49.08 and its 200-day moving average price is $54.81. The company has a market capitalization of $18.08 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 1.03 and a beta of 2.05. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 1.90. Carlyle Group has a fifty-two week low of $38.36 and a fifty-two week high of $69.85.

Carlyle Group (NASDAQ:CG - Get Free Report) last issued its earnings results on Thursday, February 5th. The financial services provider reported $1.01 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.03). The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.09 billion. Carlyle Group had a net margin of 16.92% and a return on equity of 23.62%. Carlyle Group's quarterly revenue was up 84.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.92 earnings per share. As a group, equities research analysts predict that Carlyle Group will post 4.41 EPS for the current fiscal year.

Insider Transactions at Carlyle Group

In related news, Director David M. Rubenstein sold 500,000 shares of the stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $46.68, for a total transaction of $23,340,000.00. Following the transaction, the director directly owned 27,399,644 shares of the company's stock, 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 can be accessed through the SEC website. 26.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Carlyle Group by 3.7% in 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 during the last quarter. Morgan Stanley raised its holdings in shares of Carlyle Group by 0.8% in 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 during the last quarter. State Street Corp raised its holdings in shares of Carlyle Group by 20.9% in 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 during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Carlyle Group by 1.5% in 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 during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Carlyle Group by 1.6% in 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 during the last quarter. Institutional investors and hedge funds own 55.88% of the company's stock.

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.

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