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

Carlyle Group (NASDAQ:CG) had its target price reduced by JPMorgan Chase & Co. from $68.00 to $66.00 in a report issued on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the financial services provider’s stock.

A number of other research analysts also recently issued reports on CG. Evercore ISI reduced their price objective on shares of Carlyle Group from $64.00 to $57.00 and set an “in-line” rating on the stock in a research report on Monday. Jefferies Financial Group boosted their price objective on shares of Carlyle Group from $54.00 to $66.00 and gave the company a “hold” rating in a research report on Wednesday, August 13th. Citigroup reduced their price objective on shares of Carlyle Group from $75.00 to $74.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Wells Fargo & Company boosted their price objective on shares of Carlyle Group from $49.00 to $61.00 and gave the company an “equal weight” rating in a research report on Friday, July 11th. Finally, JMP Securities boosted their price objective on shares of Carlyle Group from $70.00 to $75.00 and gave the company a “market outperform” rating in a research report on Thursday, August 14th. Seven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $67.36.

Carlyle Group Stock Down 2.8%

Shares of Carlyle Group stock opened at $51.81 on Monday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 2.24 and a current ratio of 2.24. Carlyle Group has a 52-week low of $33.02 and a 52-week high of $69.85. The stock has a market capitalization of $18.74 billion, a price-to-earnings ratio of 15.15, a P/E/G ratio of 1.22 and a beta of 2.00. The company’s 50 day moving average price is $62.08 and its 200-day moving average price is $55.11.

Carlyle Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 19th. Shareholders of record on Monday, November 10th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Monday, November 10th. Carlyle Group’s dividend payout ratio is 40.94%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Carlyle Group

A number of hedge funds and other institutional investors have recently made changes to their positions in CG. Teacher Retirement System of Texas purchased a new stake in Carlyle Group in the first quarter valued at about $1,481,000. Private Trust Co. NA raised its stake in Carlyle Group by 101.9% in the first quarter. Private Trust Co. NA now owns 636 shares of the financial services provider’s stock valued at $28,000 after buying an additional 321 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Carlyle Group in the second quarter worth about $236,000. DAVENPORT & Co LLC raised its stake in shares of Carlyle Group by 27.8% in the first quarter. DAVENPORT & Co LLC now owns 11,973 shares of the financial services provider’s stock worth $522,000 after purchasing an additional 2,607 shares during the last quarter. Finally, Cerity Partners LLC raised its stake in shares of Carlyle Group by 9.5% in the first quarter. Cerity Partners LLC now owns 78,019 shares of the financial services provider’s stock worth $3,401,000 after purchasing an additional 6,743 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.