The Carlyle Group Inc. (NASDAQ:CG) Stake Lessened by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its stake in shares of The Carlyle Group Inc. (NASDAQ:CG) by 4.2% 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 255,417 shares of the financial services provider’s stock after selling 11,092 shares during the period. Retirement Systems of Alabama owned about 0.07% of The Carlyle Group worth $10,998,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CG. Franklin Resources Inc. increased its stake in The Carlyle Group by 145.6% during the third quarter. Franklin Resources Inc. now owns 28,210 shares of the financial services provider’s stock valued at $1,215,000 after purchasing an additional 16,723 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of The Carlyle Group during the 3rd quarter valued at about $212,000. Toronto Dominion Bank raised its stake in The Carlyle Group by 15.0% during the third quarter. Toronto Dominion Bank now owns 57,801 shares of the financial services provider’s stock worth $2,489,000 after acquiring an additional 7,533 shares during the period. Empire Financial Management Company LLC acquired a new position in The Carlyle Group in the third quarter valued at approximately $818,000. Finally, MML Investors Services LLC raised its position in shares of The Carlyle Group by 11.0% during the 3rd quarter. MML Investors Services LLC now owns 17,085 shares of the financial services provider’s stock worth $736,000 after purchasing an additional 1,688 shares during the period. Institutional investors and hedge funds own 55.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CG shares. Wells Fargo & Company upped their price objective on The Carlyle Group from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Barclays boosted their target price on shares of The Carlyle Group from $57.00 to $59.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Evercore ISI raised their price target on shares of The Carlyle Group from $45.00 to $47.00 and gave the company an “in-line” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. raised their target price on The Carlyle Group from $44.00 to $50.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Morgan Stanley increased their price target on The Carlyle Group from $46.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $54.00.

The Carlyle Group Trading Up 0.2 %

NASDAQ:CG opened at $52.76 on Tuesday. The stock has a fifty day simple moving average of $51.33 and a 200 day simple moving average of $45.14. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $18.87 billion, a price-to-earnings ratio of 181.93, a price-to-earnings-growth ratio of 1.45 and a beta of 1.69. 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) last released its earnings results 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 Carlyle Group had a net margin of 2.21% and a return on equity of 24.91%. The business had revenue of $895.00 million for the quarter, compared to the consensus estimate of $908.17 million. During the same period last year, the firm posted $0.87 earnings per share. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. Sell-side analysts forecast that The Carlyle Group Inc. will post 3.77 earnings per share for the current year.

The Carlyle Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend was Monday, November 18th. The Carlyle Group’s dividend payout ratio is currently 482.76%.

Insider Buying and Selling at The Carlyle Group

In other news, major shareholder Carlyle Group Inc. sold 924,466 shares of The Carlyle Group stock in a transaction dated 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 sale, the insider now directly owns 3,643,231 shares in the company, valued at $7,796,514.34. The trade was a 20.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel A. D’aniello sold 495,542 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $51.53, for a total transaction of $25,535,279.26. Following the transaction, the director now directly owns 32,504,102 shares in the company, valued at approximately $1,674,936,376.06. The trade was a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,171,556 shares of company stock valued at $29,222,475 in the last 90 days. 27.20% of the stock is currently owned by corporate insiders.

The Carlyle Group Company 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.