TD Cowen Has Lowered Expectations for Carlyle Group (NASDAQ:CG) Stock Price

Carlyle Group (NASDAQ:CG) had its price objective lowered by stock analysts at TD Cowen from $78.00 to $77.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. TD Cowen’s target price suggests a potential upside of 50.51% from the company’s previous close.

A number of other brokerages have also recently issued reports on CG. Morgan Stanley upped their price objective on shares of Carlyle Group from $65.00 to $67.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 21st. Jefferies Financial Group upped 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. JPMorgan Chase & Co. dropped their price target on shares of Carlyle Group from $68.00 to $66.00 and set a “neutral” rating for the company in a research report on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Carlyle Group in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company increased their price target on shares of Carlyle Group from $49.00 to $61.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th. 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. Based on data from MarketBeat.com, Carlyle Group currently has an average rating of “Hold” and an average price target of $67.36.

Carlyle Group Trading Down 1.3%

Carlyle Group stock opened at $51.16 on Monday. The stock has a market cap of $18.50 billion, a P/E ratio of 14.96, a P/E/G ratio of 1.22 and a beta of 2.00. Carlyle Group has a 12 month low of $33.02 and a 12 month high of $69.85. The company’s fifty day simple moving average is $61.81 and its 200-day simple moving average is $55.21. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 1.52.

Insider Transactions at Carlyle Group

In other Carlyle Group news, General Counsel Jeffrey W. Ferguson sold 202,606 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $64.23, for a total value of $13,013,383.38. Following the transaction, the general counsel directly owned 753,255 shares of the company’s stock, valued at approximately $48,381,568.65. This trade represents a 21.20% 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. Insiders own 26.30% of the company’s stock.

Hedge Funds Weigh In On Carlyle Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Carlyle Group by 1.8% during the second quarter. Vanguard Group Inc. now owns 24,719,581 shares of the financial services provider’s stock worth $1,270,586,000 after purchasing an additional 426,644 shares in the last quarter. State Street Corp boosted its position in shares of Carlyle Group by 4.8% during the second quarter. State Street Corp now owns 8,221,652 shares of the financial services provider’s stock worth $422,593,000 after purchasing an additional 378,455 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Carlyle Group by 6.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,618,075 shares of the financial services provider’s stock worth $477,653,000 after purchasing an additional 479,216 shares in the last quarter. Alkeon Capital Management LLC boosted its position in shares of Carlyle Group by 13.4% during the second quarter. Alkeon Capital Management LLC now owns 5,941,316 shares of the financial services provider’s stock worth $305,384,000 after purchasing an additional 700,000 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Carlyle Group by 5.6% in the 2nd quarter. Geode Capital Management LLC now owns 4,284,894 shares of the financial services provider’s stock valued at $219,583,000 after acquiring an additional 228,484 shares in the last quarter. 55.88% of the stock is owned by institutional investors.

Carlyle Group Company Profile

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.