Bank of America Corp DE raised its position in The Carlyle Group Inc. (NASDAQ:CG – Get Rating) by 37.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,748,292 shares of the financial services provider's stock after purchasing an additional 747,040 shares during the quarter. Bank of America Corp DE owned 0.76% of The Carlyle Group worth $134,419,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of CG. Westside Investment Management Inc. bought a new position in shares of The Carlyle Group during the first quarter worth about $28,000. Burleson & Company LLC bought a new position in shares of The Carlyle Group during the first quarter worth about $29,000. CVA Family Office LLC increased its holdings in The Carlyle Group by 257.1% in the first quarter. CVA Family Office LLC now owns 625 shares of the financial services provider's stock worth $31,000 after purchasing an additional 450 shares in the last quarter. Parkside Investments LLC bought a new stake in The Carlyle Group in the first quarter worth approximately $48,000. Finally, Herold Advisors Inc. bought a new stake in The Carlyle Group in the first quarter worth approximately $49,000. 94.38% of the stock is currently owned by institutional investors.
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Analyst Upgrades and Downgrades
A number of brokerages have weighed in on CG. Evercore ISI downgraded The Carlyle Group from a "buy" rating to a "hold" rating and lowered their target price for the stock from $55.00 to $38.00 in a report on Wednesday, August 10th. Jefferies Financial Group cut The Carlyle Group from a "buy" rating to a "hold" rating and reduced their price objective for the company from $55.00 to $38.00 in a research note on Tuesday, August 9th. TheStreet cut The Carlyle Group from a "b-" rating to a "c" rating in a research note on Thursday, July 28th. Royal Bank of Canada reduced their price objective on The Carlyle Group from $15.00 to $11.00 and set an "outperform" rating for the company in a research note on Thursday, August 11th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on The Carlyle Group from $56.00 to $43.00 in a research note on Friday, August 12th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, The Carlyle Group presently has a consensus rating of "Hold" and an average price target of $44.46.
Insider Buying and Selling
In related news, major shareholder Carlyle Group Inc. sold 167,755 shares of the business's stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $50.85, for a total transaction of $8,530,341.75. Following the completion of the transaction, the insider now directly owns 40,307,862 shares in the company, valued at $2,049,654,782.70. The transaction was disclosed in a document filed with the SEC, which is available through
this link. In other news, major shareholder Carlyle Group Inc. sold 167,755 shares of the company's stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $50.85, for a total value of $8,530,341.75. Following the completion of the transaction, the insider now directly owns 40,307,862 shares in the company, valued at approximately $2,049,654,782.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through
the SEC website. Also, CFO Curtis L. Buser sold 38,890 shares of the company's stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $37.85, for a total value of $1,471,986.50. Following the completion of the transaction, the chief financial officer now owns 1,094,484 shares of the company's stock, valued at $41,426,219.40. The disclosure for this sale can be found
here. Insiders sold a total of 630,787 shares of company stock worth $29,311,622 over the last ninety days. 29.80% of the stock is owned by corporate insiders.
The Carlyle Group Stock Performance
Shares of CG opened at $28.18 on Friday. The firm has a market cap of $10.18 billion, a PE ratio of 5.15, a PEG ratio of 0.32 and a beta of 1.66. The stock's fifty day moving average price is $33.88 and its two-hundred day moving average price is $37.27. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.63 and a quick ratio of 2.63. The Carlyle Group Inc. has a 1 year low of $27.83 and a 1 year high of $60.62.
The Carlyle Group (NASDAQ:CG – Get Rating) last released its quarterly earnings data on Thursday, July 28th. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.11 by $0.06. The Carlyle Group had a return on equity of 40.15% and a net margin of 31.86%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.17 billion. On average, equities research analysts forecast that The Carlyle Group Inc. will post 4.03 EPS for the current year.
The Carlyle Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 16th. Investors of record on Tuesday, August 9th were given a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a yield of 4.61%. The ex-dividend date of this dividend was Monday, August 8th. The Carlyle Group's payout ratio is 23.77%.
The Carlyle Group Profile
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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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