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

Carlyle Group (NASDAQ:CG) had its target price decreased by equities researchers at JPMorgan Chase & Co. from $64.00 to $62.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 46.45% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods raised their price objective on Carlyle Group from $47.00 to $50.00 and gave the stock a “market perform” rating in a research report on Thursday, August 6th. BMO Capital Markets reduced their target price on Carlyle Group from $56.00 to $46.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 27th. Piper Sandler decreased their price target on Carlyle Group from $54.00 to $48.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. Morgan Stanley set a $51.00 price target on Carlyle Group in a report on Friday, October 16th. Finally, Citigroup restated an “outperform” rating on shares of Carlyle Group in a research note on Thursday, August 6th. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $51.93.

Carlyle Group Stock Up 6.6%

NASDAQ CG traded up $2.63 on Monday, hitting $42.34. The stock had a trading volume of 2,387,720 shares, compared to its average volume of 3,410,247. The business’s fifty day moving average price is $40.64 and its 200 day moving average price is $46.75. The company has a debt-to-equity ratio of 2.23, a current ratio of 2.57 and a quick ratio of 2.35. Carlyle Group has a 52-week low of $35.41 and a 52-week high of $67.30. The stock has a market cap of $15.09 billion, a price-to-earnings ratio of 45.20, a price-to-earnings-growth ratio of 1.28 and a beta of 1.84.

Insiders Place Their Bets

In other Carlyle Group news, Director David Rubenstein sold 400,000 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $42.74, for a total transaction of $17,096,000.00. Following the completion of the transaction, the director directly owned 26,899,644 shares of the company’s stock, valued at approximately $1,149,690,784.56. This trade represents a 1.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 25.40% of the company’s stock.

Institutional Trading of Carlyle Group

Several large investors have recently made changes to their positions in CG. Main Street Group LTD purchased a new position in shares of Carlyle Group during the 1st quarter valued at about $27,000. Allworth Financial LP acquired a new stake in Carlyle Group during the second quarter worth about $35,000. MassMutual Private Wealth & Trust FSB grew its holdings in Carlyle Group by 36.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 962 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 258 shares during the period. Harbour Investments Inc. raised its position in Carlyle Group by 29.4% during the third quarter. Harbour Investments Inc. now owns 1,052 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 239 shares in the last quarter. Finally, Compass Wealth Management LLC purchased a new position in Carlyle Group during the third quarter valued at approximately $48,000. 55.88% of the stock is owned by hedge funds and other institutional investors.

About Carlyle Group

The Carlyle Group Inc is a global alternative asset manager that invests on behalf of institutional and individual clients. Its business includes private equity, credit and investment solutions, including portfolios of private equity funds and related investments.

Founded in Washington, DC, in 1987, Carlyle has grown into an international firm with investment activities and offices across North America, Europe and Asia, among other regions. Its strategies span a range of industries and markets, and it works with businesses at different stages of development.

Harvey Schwartz became Carlyle’s chief executive officer in 2023.