Jessup Wealth Management Inc Makes New $7.63 Million Investment in The Carlyle Group Inc. (NASDAQ:CG)

Jessup Wealth Management Inc acquired a new position in shares of The Carlyle Group Inc. (NASDAQ:CG) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 162,670 shares of the financial services provider’s stock, valued at approximately $7,631,000. The Carlyle Group makes up 3.3% of Jessup Wealth Management Inc’s portfolio, making the stock its 10th biggest position.

Other institutional investors have also recently made changes to their positions in the company. CVA Family Office LLC purchased a new position in The Carlyle Group during the fourth quarter valued at approximately $35,000. GAMMA Investing LLC purchased a new stake in shares of The Carlyle Group in the fourth quarter valued at approximately $38,000. Gold Investment Management Ltd. acquired a new position in shares of The Carlyle Group during the 4th quarter worth approximately $56,000. Compass Wealth Management LLC acquired a new stake in The Carlyle Group in the 1st quarter valued at $57,000. Finally, Ramirez Asset Management Inc. purchased a new stake in The Carlyle Group in the 3rd quarter worth $84,000. Institutional investors and hedge funds own 55.88% of the company’s stock.

The Carlyle Group Stock Performance

NASDAQ:CG traded up $0.26 on Friday, reaching $40.15. 453,391 shares of the company’s stock were exchanged, compared to its average volume of 2,253,660. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 1.53. The business has a fifty day moving average of $42.33 and a 200-day moving average of $42.91. The Carlyle Group Inc. has a 52-week low of $27.13 and a 52-week high of $48.52.

The Carlyle Group (NASDAQ:CG) last posted its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.92 by $0.09. The Carlyle Group had a negative net margin of 23.04% and a positive return on equity of 23.92%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $986.10 million. During the same quarter in the previous year, the firm posted $0.63 earnings per share. The company’s quarterly revenue was up 35.6% compared to the same quarter last year. Equities analysts predict that The Carlyle Group Inc. will post 3.9 earnings per share for the current fiscal year.

The Carlyle Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 21st. Stockholders of record on Tuesday, May 14th were issued a $0.35 dividend. The ex-dividend date was Monday, May 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.49%. The Carlyle Group’s payout ratio is -78.21%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CG. UBS Group lifted their target price on shares of The Carlyle Group from $46.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Jefferies Financial Group reduced their target price on The Carlyle Group from $49.00 to $44.00 and set a “hold” rating for the company in a report on Thursday, May 9th. TD Cowen lowered their target price on shares of The Carlyle Group from $49.00 to $45.00 and set a “hold” rating on the stock in a research note on Thursday, May 2nd. Barclays decreased their price target on shares of The Carlyle Group from $56.00 to $47.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Finally, The Goldman Sachs Group lowered their target price on The Carlyle Group from $54.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $45.60.

Insider Buying and Selling

In other The Carlyle Group news, major shareholder Carlyle Group Inc. sold 81,482 shares of The Carlyle Group stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $33.19, for a total transaction of $2,704,387.58. Following the completion of the sale, the insider now directly owns 11,617,068 shares of the company’s stock, valued at approximately $385,570,486.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders sold 514,288 shares of company stock worth $18,383,593. Corporate insiders own 27.20% of the company’s stock.

The Carlyle Group Profile

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.