BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its stake in The Carlyle Group Inc. (NASDAQ:CG – Get Rating) by 8.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,543 shares of the financial services provider’s stock after selling 1,667 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in The Carlyle Group were worth $523,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of The Carlyle Group by 6.0% in the 3rd quarter. Vanguard Group Inc. now owns 24,132,777 shares of the financial services provider’s stock worth $623,591,000 after acquiring an additional 1,376,229 shares during the last quarter. BlackRock Inc. lifted its position in shares of The Carlyle Group by 7.2% in the 1st quarter. BlackRock Inc. now owns 15,257,115 shares of the financial services provider’s stock worth $746,227,000 after purchasing an additional 1,020,504 shares during the period. State Street Corp increased its position in shares of The Carlyle Group by 13.2% during the third quarter. State Street Corp now owns 5,193,757 shares of the financial services provider’s stock valued at $134,207,000 after buying an additional 605,112 shares during the period. Beutel Goodman & Co Ltd. bought a new stake in The Carlyle Group during the 3rd quarter valued at approximately $106,404,000. Finally, William Blair Investment Management LLC purchased a new position in shares of The Carlyle Group during the 4th quarter worth approximately $84,912,000. Hedge funds and other institutional investors own 52.69% of the company’s stock.
Insider Transactions at The Carlyle Group
In related news, major shareholder Carlyle Group Inc. sold 2,000,000 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $86.12, for a total transaction of $172,240,000.00. Following the completion of the sale, the insider now owns 6,482,732 shares of the company’s stock, valued at approximately $558,292,879.84. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 27.00% of the company’s stock.
The Carlyle Group Trading Up 2.5 %
The Carlyle Group (NASDAQ:CG – Get Rating) last posted its earnings results on Thursday, May 4th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). The business had revenue of $754.20 million for the quarter, compared to analyst estimates of $805.50 million. The Carlyle Group had a net margin of 20.29% and a return on equity of 25.89%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 earnings per share. On average, equities research analysts anticipate that The Carlyle Group Inc. will post 2.72 earnings per share for the current year.
The Carlyle Group Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, May 23rd. Stockholders of record on Tuesday, May 16th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, May 15th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.86%. This is a boost from The Carlyle Group’s previous quarterly dividend of $0.33. The Carlyle Group’s payout ratio is currently 67.63%.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft cut their price target on The Carlyle Group from $41.00 to $39.00 in a research note on Friday, May 5th. Oppenheimer upped their price objective on The Carlyle Group from $64.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, April 13th. JMP Securities lowered their price target on The Carlyle Group from $54.00 to $52.00 in a report on Friday, May 5th. Bank of America lowered their price target on The Carlyle Group from $34.00 to $33.00 and set an “underperform” rating on the stock in a report on Wednesday, April 5th. Finally, TheStreet lowered The Carlyle Group from a “b-” rating to a “c+” rating in a research note on Tuesday, March 28th. Two analysts have rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, The Carlyle Group has a consensus rating of “Moderate Buy” and an average price target of $38.18.
The Carlyle Group Company Profile
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.
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