BlackRock Inc. Trims Position in The Carlyle Group Inc. (NASDAQ:CG)

Posted by Defense World Staff on Mar 11th, 2023

BlackRock Inc. reduced its position in The Carlyle Group Inc. (NASDAQ:CG – Get Rating) by 14.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,269,001 shares of the financial services provider’s stock after selling 2,138,937 shares during the quarter. BlackRock Inc. owned approximately 3.37% of The Carlyle Group worth $317,032,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in The Carlyle Group by 3.7% in the first quarter. Vanguard Group Inc. now owns 19,624,219 shares of the financial services provider’s stock valued at $959,820,000 after buying an additional 703,271 shares during the last quarter. State Street Corp raised its stake in shares of The Carlyle Group by 12.4% during the second quarter. State Street Corp now owns 4,588,645 shares of the financial services provider’s stock worth $145,277,000 after purchasing an additional 506,398 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of The Carlyle Group by 188.8% during the third quarter. Assenagon Asset Management S.A. now owns 3,478,396 shares of the financial services provider’s stock worth $89,882,000 after purchasing an additional 2,274,025 shares during the last quarter. Legal & General Group Plc raised its stake in shares of The Carlyle Group by 14.3% during the second quarter. Legal & General Group Plc now owns 3,299,130 shares of the financial services provider’s stock worth $104,450,000 after purchasing an additional 412,152 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of The Carlyle Group by 22.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,541,955 shares of the financial services provider’s stock worth $65,684,000 after purchasing an additional 473,609 shares during the last quarter. 52.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CG has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on The Carlyle Group from $41.00 to $43.00 in a research note on Wednesday, February 8th. Barclays began coverage on The Carlyle Group in a research report on Thursday, March 2nd. They issued an “overweight” rating and a $41.00 price objective for the company. UBS Group cut their price objective on The Carlyle Group from $40.00 to $31.00 and set a “neutral” rating for the company in a research report on Tuesday, November 15th. The Goldman Sachs Group increased their price objective on The Carlyle Group from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, February 9th. Finally, Credit Suisse Group set a $36.00 price objective on The Carlyle Group in a research report on Wednesday, November 23rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $40.31.

The Carlyle Group Stock Down 8.8 %

CG opened at $30.26 on Friday. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.20. The firm has a market cap of $11.02 billion, a P/E ratio of 9.01 and a beta of 1.70. The Carlyle Group Inc. has a 52 week low of $24.59 and a 52 week high of $50.40. The business’s fifty day simple moving average is $34.16 and its 200 day simple moving average is $30.99.

The Carlyle Group (NASDAQ:CG – Get Rating) last posted its quarterly earnings data on Tuesday, February 7th. The financial services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.05. The Carlyle Group had a return on equity of 27.50% and a net margin of 27.60%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the company earned $2.01 earnings per share. The business’s revenue for the quarter was down 44.1% compared to the same quarter last year. As a group, equities research analysts anticipate that The Carlyle Group Inc. will post 3.53 EPS for the current fiscal year.

The Carlyle Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Wednesday, February 22nd were given a dividend of $0.325 per share. The ex-dividend date of this dividend was Tuesday, February 21st. This represents a $1.30 annualized dividend and a yield of 4.30%. The Carlyle Group’s dividend payout ratio (DPR) is presently 38.69%.

Insider Buying and Selling

In related news, COO Christopher Finn sold 11,096 shares of the stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $36.36, for a total transaction of $403,450.56. Following the transaction, the chief operating officer now directly owns 960,825 shares in the company, valued at $34,935,597. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Christopher Finn sold 11,096 shares of the firm’s stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $36.36, for a total value of $403,450.56. Following the transaction, the chief operating officer now directly owns 960,825 shares in the company, valued at approximately $34,935,597. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Curtis L. Buser sold 10,395 shares of the firm’s stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $36.36, for a total value of $377,962.20. Following the completion of the transaction, the chief financial officer now owns 1,224,060 shares in the company, valued at $44,506,821.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 110,552 shares of company stock worth $4,001,032. 29.80% of the stock is owned by company insiders.

The Carlyle Group Company Profile

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The Carlyle Group, Inc engages in multi-product global alternative asset management. It operates through the following segments: Corporate Private Equity, Real Assets, Global Credit, and Investment Solutions. The Corporate Private Equity segment focuses on buyout, and growth capital funds, which pursue a variety of corporate investments of different sizes and growth potentials.