Franklin Resources Inc. lifted its position in shares of The Carlyle Group Inc. (NASDAQ:CG - Free Report) by 145.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,210 shares of the financial services provider's stock after buying an additional 16,723 shares during the quarter. Franklin Resources Inc.'s holdings in The Carlyle Group were worth $1,215,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in The Carlyle Group by 25.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 91,137 shares of the financial services provider's stock valued at $3,659,000 after buying an additional 18,614 shares during the last quarter. Jaffetilchin Investment Partners LLC increased its position in The Carlyle Group by 18.1% during the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 5,516 shares of the financial services provider's stock worth $221,000 after purchasing an additional 844 shares in the last quarter. Rothschild Investment LLC purchased a new position in The Carlyle Group in the 2nd quarter valued at about $50,000. Van ECK Associates Corp boosted its stake in shares of The Carlyle Group by 358.2% during the 2nd quarter. Van ECK Associates Corp now owns 77,739 shares of the financial services provider's stock worth $3,122,000 after purchasing an additional 60,772 shares during the last quarter. Finally, Augustine Asset Management Inc. raised its position in shares of The Carlyle Group by 0.5% in the second quarter. Augustine Asset Management Inc. now owns 62,849 shares of the financial services provider's stock valued at $2,523,000 after buying an additional 324 shares during the last quarter. 55.88% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other The Carlyle Group news, major shareholder Carlyle Group Inc. sold 924,466 shares of the stock in a transaction on 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 completion of the transaction, the insider now directly owns 3,643,231 shares of the company's stock, valued at approximately $7,796,514.34. This trade represents a 20.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel A. D'aniello sold 495,542 shares of the business's stock in a transaction on 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 completion of the sale, the director now directly owns 32,504,102 shares in the company, valued at $1,674,936,376.06. This represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,171,556 shares of company stock valued at $29,222,475. Insiders own 27.20% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently weighed in on CG. StockNews.com downgraded The Carlyle Group from a "hold" rating to a "sell" rating in a research report on Sunday, December 8th. Keefe, Bruyette & Woods raised their target price 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. JMP Securities reaffirmed a "market outperform" rating and set a $60.00 price target on shares of The Carlyle Group in a research report on Wednesday, October 9th. UBS Group lifted their price target on shares of The Carlyle Group from $43.00 to $54.00 and gave the company a "neutral" rating in a report on Tuesday, October 22nd. Finally, Evercore ISI upped their price objective on The Carlyle Group from $45.00 to $47.00 and gave the stock an "in-line" rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $54.00.
View Our Latest Report on CG
The Carlyle Group Stock Performance
Shares of CG stock traded down $1.11 on Friday, hitting $50.87. 961,153 shares of the stock traded hands, compared to its average volume of 2,338,292. The company has a market capitalization of $18.20 billion, a PE ratio of 175.41, a PEG ratio of 1.45 and a beta of 1.69. The company's fifty day moving average is $51.66 and its 200 day moving average is $45.63. 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 Inc. has a 1-year low of $36.65 and a 1-year high of $55.11.
The Carlyle Group (NASDAQ:CG - Get Free Report) last released its quarterly earnings data 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 net margin of 2.21% and a return on equity of 24.91%. The Carlyle Group's quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.87 earnings per share. On average, equities research analysts predict that The Carlyle Group Inc. will post 3.77 earnings per share for the current fiscal year.
The Carlyle Group Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.75%. The ex-dividend date was Monday, November 18th. The Carlyle Group's dividend payout ratio (DPR) is 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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