FMR LLC increased its stake in shares of The Carlyle Group Inc. (NASDAQ:CG - Free Report) by 72.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 4,051,757 shares of the financial services provider's stock after acquiring an additional 1,707,520 shares during the period. FMR LLC owned 1.13% of The Carlyle Group worth $174,469,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Westbourne Investment Advisors Inc. lifted its position in shares of The Carlyle Group by 3.6% in the 3rd quarter. Westbourne Investment Advisors Inc. now owns 5,700 shares of the financial services provider's stock worth $245,000 after acquiring an additional 200 shares during the period. Bleakley Financial Group LLC lifted its position in shares of The Carlyle Group by 0.5% during the 3rd quarter. Bleakley Financial Group LLC now owns 41,742 shares of the financial services provider's stock worth $1,797,000 after buying an additional 208 shares during the period. Tobam lifted its position in shares of The Carlyle Group by 32.8% during the 3rd quarter. Tobam now owns 890 shares of the financial services provider's stock worth $38,000 after buying an additional 220 shares during the period. Western Pacific Wealth Management LP lifted its position in shares of The Carlyle Group by 10.6% during the 3rd quarter. Western Pacific Wealth Management LP now owns 3,284 shares of the financial services provider's stock worth $141,000 after buying an additional 314 shares during the period. Finally, Mercer Global Advisors Inc. ADV lifted its position in shares of The Carlyle Group by 0.5% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 61,684 shares of the financial services provider's stock worth $2,484,000 after buying an additional 318 shares during the period. Institutional investors and hedge funds own 55.88% of the company's stock.
Insiders Place Their Bets
In related news, major shareholder Carlyle Group Inc. sold 924,466 shares of the company's stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $2.14, for a total transaction of $1,978,357.24. Following the sale, the insider now owns 3,643,231 shares in the company, valued at approximately $7,796,514.34. This represents a 20.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel A. D'aniello sold 495,542 shares of the company's stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $51.53, for a total value of $25,535,279.26. Following the sale, the director now owns 32,504,102 shares in the company, valued at $1,674,936,376.06. The trade was a 1.50 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,171,556 shares of company stock worth $29,222,475. Corporate insiders own 27.20% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the company. Redburn Atlantic assumed coverage on The Carlyle Group in a report on Tuesday, August 27th. They set a "buy" rating and a $55.00 price target for the company. JMP Securities reaffirmed a "market outperform" rating and set a $60.00 price target on shares of The Carlyle Group in a report on Wednesday, October 9th. TD Cowen raised their price target on The Carlyle Group from $43.00 to $49.00 and gave the company a "hold" rating in a report on Friday, November 8th. Wells Fargo & Company raised their price target on The Carlyle Group from $42.00 to $48.00 and gave the company an "equal weight" rating in a report on Wednesday, October 9th. Finally, StockNews.com raised The Carlyle Group from a "sell" rating to a "hold" rating in a report on Saturday. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $53.33.
View Our Latest Stock Report on CG
The Carlyle Group Trading Down 0.1 %
Shares of The Carlyle Group stock traded down $0.03 during trading on Tuesday, reaching $52.75. 467,009 shares of the company were exchanged, compared to its average volume of 2,360,936. 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 Inc. has a twelve month low of $34.72 and a twelve month high of $55.11. The business has a 50-day moving average price of $49.55 and a 200-day moving average price of $44.48. The firm has a market capitalization of $18.87 billion, a price-to-earnings ratio of 181.17, a P/E/G ratio of 1.40 and a beta of 1.69.
The Carlyle Group (NASDAQ:CG - Get Free Report) last posted its earnings results on Wednesday, November 6th. The financial services provider reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.08. The firm had revenue of $895.00 million for 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 company's revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.87 earnings per share. Sell-side analysts anticipate that The Carlyle Group Inc. will post 3.77 EPS for the current fiscal year.
The Carlyle Group Dividend Announcement
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 dividend of $0.35 per share. The ex-dividend date was Monday, November 18th. This represents a $1.40 annualized dividend and a yield of 2.65%. The Carlyle Group's dividend payout ratio is presently 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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