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

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

Several other equities analysts also recently weighed in on CG. Keefe, Bruyette & Woods reduced their target price on shares of Carlyle Group from $66.00 to $64.00 and set a “market perform” rating for the company in a research note on Monday, November 3rd. TD Cowen reaffirmed a “buy” rating on shares of Carlyle Group in a report on Wednesday, January 14th. Citigroup cut their target price on Carlyle Group from $74.00 to $71.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Wolfe Research reiterated an “outperform” rating on shares of Carlyle Group in a research report on Wednesday, January 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Carlyle Group in a research report on Wednesday, January 21st. Seven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Carlyle Group has an average rating of “Hold” and an average target price of $68.08.

Carlyle Group Trading Down 2.6%

Shares of CG stock opened at $57.68 on Tuesday. The company has a market capitalization of $20.79 billion, a PE ratio of 32.23, a price-to-earnings-growth ratio of 1.06 and a beta of 2.05. The firm has a 50 day moving average price of $60.65 and a two-hundred day moving average price of $60.27. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 1.78. Carlyle Group has a 12-month low of $33.02 and a 12-month high of $69.85.

Carlyle Group (NASDAQ:CG) last released its earnings results on Friday, February 6th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.03). Carlyle Group had a net margin of 16.91% and a return on equity of 23.46%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the firm earned $0.92 EPS. The firm’s revenue was up 84.1% on a year-over-year basis. As a group, analysts predict that Carlyle Group will post 4.48 earnings per share for the current year.

Carlyle Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 20th. Shareholders of record on Monday, February 16th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.40 annualized dividend and a yield of 2.4%. Carlyle Group’s dividend payout ratio (DPR) is currently 78.21%.

Insider Activity

In related news, Director David M. Rubenstein sold 625,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $56.55, for a total transaction of $35,343,750.00. Following the completion of the sale, the director owned 27,999,644 shares of the company’s stock, valued at $1,583,379,868.20. This trade represents a 2.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 26.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new stake in Carlyle Group during the fourth quarter worth $288,257,000. State Street Corp increased its stake 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 worth $623,372,000 after acquiring an additional 1,720,483 shares during the period. Balyasny Asset Management L.P. acquired a new position in Carlyle Group in the third quarter valued at approximately $75,612,000. Vanguard Group Inc. increased its stake in shares of Carlyle Group by 3.7% in the 4th 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. Finally, Algebris UK Ltd. acquired a new position in shares of Carlyle Group during the 4th quarter worth approximately $50,459,000. 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.