Wells Fargo & Company Has Lowered Expectations for The Carlyle Group (NASDAQ:CG) Stock Price

The Carlyle Group (NASDAQ:CG) had its price objective dropped by analysts at Wells Fargo & Company from $56.00 to $54.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 9.76% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. raised their price objective on shares of The Carlyle Group from $44.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Barclays lowered their price target on The Carlyle Group from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday. StockNews.com lowered The Carlyle Group from a “hold” rating to a “sell” rating in a report on Sunday, December 8th. Keefe, Bruyette & Woods boosted their price target on shares of The Carlyle Group from $51.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday, November 8th. Finally, TD Cowen raised their price objective on shares of The Carlyle Group from $43.00 to $49.00 and gave the company a “hold” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, The Carlyle Group currently has a consensus rating of “Hold” and an average price target of $54.93.

The Carlyle Group Stock Performance

NASDAQ CG traded down $0.38 on Wednesday, hitting $49.20. The stock had a trading volume of 695,600 shares, compared to its average volume of 2,064,834. The company’s 50-day moving average is $52.79 and its two-hundred day moving average is $48.25. The stock has a market cap of $17.60 billion, a price-to-earnings ratio of 168.91, a P/E/G ratio of 0.92 and a beta of 1.70. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 1.38. The Carlyle Group has a one year low of $36.65 and a one year high of $57.50.

The Carlyle Group (NASDAQ:CG) last announced its earnings results on Monday, February 10th. The financial services provider reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.08). The Carlyle Group had a net margin of 2.21% and a return on equity of 24.91%. On average, analysts expect that The Carlyle Group will post 3.73 earnings per share for the current year.

Hedge Funds Weigh In On The Carlyle Group

A number of large investors have recently bought and sold shares of CG. William Blair Investment Management LLC boosted its position in shares of The Carlyle Group by 15.5% in the 4th quarter. William Blair Investment Management LLC now owns 13,249,941 shares of the financial services provider’s stock worth $668,990,000 after purchasing an additional 1,773,465 shares during the last quarter. FMR LLC raised its holdings in shares of The Carlyle Group by 72.8% during the 3rd quarter. FMR LLC now owns 4,051,757 shares of the financial services provider’s stock worth $174,469,000 after buying an additional 1,707,520 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of The Carlyle Group during the fourth quarter valued at about $83,784,000. Norges Bank purchased a new position in shares of The Carlyle Group in the fourth quarter worth about $44,532,000. Finally, JPMorgan Chase & Co. increased its position in The Carlyle Group by 68.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,919,439 shares of the financial services provider’s stock valued at $82,651,000 after buying an additional 777,304 shares in the last quarter. Hedge funds and other institutional investors own 55.88% of the company’s stock.

The 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.