Cinctive Capital Management LP purchased a new stake in The Carlyle Group Inc. (NASDAQ:CG - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 68,221 shares of the financial services provider's stock, valued at approximately $2,938,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tobam purchased a new stake in shares of The Carlyle Group in the second quarter valued at approximately $27,000. Blue Trust Inc. grew its stake in shares of The Carlyle Group by 506.3% during the 2nd quarter. Blue Trust Inc. now owns 770 shares of the financial services provider's stock worth $31,000 after purchasing an additional 643 shares during the period. Brooklyn Investment Group acquired a new stake in shares of The Carlyle Group in the third quarter valued at about $33,000. Rothschild Investment LLC purchased a new stake in The Carlyle Group during the second quarter worth about $50,000. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its holdings in The Carlyle Group by 1,600.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,700 shares of the financial services provider's stock valued at $73,000 after buying an additional 1,600 shares in the last quarter. 55.88% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on CG. Wells Fargo & Company boosted their price objective on shares of The Carlyle Group from $42.00 to $48.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 9th. Redburn Atlantic began coverage on shares of The Carlyle Group in a research note on Tuesday, August 27th. They set a "buy" rating and a $55.00 price target on the stock. Barclays upped their price objective on The Carlyle Group from $50.00 to $57.00 and gave the stock an "overweight" rating in a report on Friday, November 8th. Evercore ISI lifted their target price on The Carlyle Group from $45.00 to $47.00 and gave the company an "in-line" rating in a report on Monday, October 14th. Finally, UBS Group raised their price objective on The Carlyle Group from $43.00 to $54.00 and gave the stock a "neutral" rating in a report on Tuesday, October 22nd. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $53.33.
Get Our Latest Analysis on CG
Insider Transactions at The Carlyle Group
In other news, major shareholder Carlyle Group Inc. sold 92,905 shares of the firm's stock in a transaction on Friday, October 11th. The stock was sold at an average price of $2.27, for a total value of $210,894.35. Following the completion of the sale, the insider now directly owns 3,155,461 shares in the company, valued at approximately $7,162,896.47. This trade represents a 2.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Daniel A. D'aniello sold 495,542 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $51.53, for a total transaction of $25,535,279.26. Following the sale, the director now directly owns 32,504,102 shares in the company, valued at $1,674,936,376.06. This trade represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,171,556 shares of company stock valued at $29,222,475. 27.20% of the stock is owned by corporate insiders.
The Carlyle Group Stock Performance
Shares of CG traded down $0.24 during trading hours on Tuesday, reaching $52.54. 595,467 shares of the company's stock traded hands, compared to its average volume of 2,361,352. The firm has a market capitalization of $18.79 billion, a price-to-earnings ratio of 181.17, a P/E/G ratio of 1.40 and a beta of 1.69. The business's fifty day simple moving average is $49.55 and its two-hundred day simple moving average is $44.48. The Carlyle Group Inc. has a twelve month low of $34.72 and a twelve month high of $55.11. The company has a debt-to-equity ratio of 1.38, a current ratio of 2.32 and a quick ratio of 2.32.
The Carlyle Group (NASDAQ:CG - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.95 earnings per share for the quarter, beating analysts' consensus estimates of $0.87 by $0.08. The business had revenue of $895.00 million during the quarter, compared to analyst estimates of $908.17 million. The Carlyle Group had a return on equity of 24.91% and a net margin of 2.21%. The Carlyle Group's revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter last year, the company posted $0.87 EPS. Analysts predict that The Carlyle Group Inc. will post 3.77 earnings per share for the current year.
The Carlyle Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date was Monday, November 18th. The Carlyle Group's dividend payout ratio (DPR) is currently 482.76%.
About The Carlyle Group
(
Free Report)
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.
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