Carlyle Group Inc. $CG Shares Sold by First Trust Advisors LP

First Trust Advisors LP reduced its holdings in shares of Carlyle Group Inc. (NASDAQ:CG) by 75.8% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 52,780 shares of the financial services provider’s stock after selling 165,064 shares during the period. First Trust Advisors LP’s holdings in Carlyle Group were worth $2,554,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. WFA of San Diego LLC purchased a new stake in Carlyle Group during the 2nd quarter worth $26,000. Main Street Group LTD purchased a new position in Carlyle Group in the first quarter valued at about $27,000. Geneos Wealth Management Inc. lifted its stake in shares of Carlyle Group by 755.3% during the first quarter. Geneos Wealth Management Inc. now owns 650 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 574 shares in the last quarter. Quarry LP purchased a new stake in shares of Carlyle Group during the 3rd quarter valued at about $33,000. Finally, Brown Brothers Harriman & Co. acquired a new position in Carlyle Group during the 3rd quarter worth approximately $41,000. Hedge funds and other institutional investors own 55.88% of the company’s stock.

Carlyle Group Stock Down 2.2%

Shares of Carlyle Group stock opened at $47.79 on Friday. The company has a quick ratio of 2.55, a current ratio of 2.35 and a debt-to-equity ratio of 1.91. The business has a 50-day moving average price of $44.79 and a 200 day moving average price of $48.92. Carlyle Group Inc. has a fifty-two week low of $39.60 and a fifty-two week high of $69.85. The firm has a market cap of $17.20 billion, a P/E ratio of 49.78, a P/E/G ratio of 1.73 and a beta of 1.83.

Carlyle Group (NASDAQ:CG) last issued its earnings results on Tuesday, August 4th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $0.91 by $0.16. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $923.50 million. Carlyle Group had a return on equity of 22.52% and a net margin of 10.08%.The business’s revenue was down 28.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.87 EPS. On average, sell-side analysts forecast that Carlyle Group Inc. will post 3.68 earnings per share for the current fiscal year.

Carlyle Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Monday, August 17th will be paid a dividend of $0.35 per share. The ex-dividend date is Monday, August 17th. This represents a $1.40 annualized dividend and a yield of 2.9%. Carlyle Group’s payout ratio is presently 145.83%.

Carlyle Group News Summary

Here are the key news stories impacting Carlyle Group this week:

• Positive Sentiment: Q2 earnings and revenue exceeded expectations. Carlyle reported adjusted earnings of $1.07 per share versus the $0.91 consensus estimate, while revenue reached $1.11 billion, above expectations of approximately $924 million. Higher assets under management and performance revenues helped results, although expenses also increased year over year. Carlyle Q2 earnings report
• Positive Sentiment: Strategic partnership expands Carlyle’s credit business. Carlyle’s Global Credit platform will provide approximately $600 million in hybrid capital to Prime Capital Financial and receive a minority ownership interest. The deal gives Carlyle exposure to Prime’s future growth and values the financial-services company at more than $1.8 billion. Prime Capital Financial partnership announcement
• Positive Sentiment: Analyst price targets increased. Citizens JMP raised its target to $73 from $70 and maintained an outperform rating. Keefe, Bruyette & Woods also lifted its target to $50 from $47, though it retained a market-perform rating.
• Positive Sentiment: Quarterly dividend maintained. Carlyle declared a $0.35-per-share dividend, payable August 26 to shareholders of record August 17, supporting the stock’s income appeal with an indicated yield of about 2.9%.
• Neutral Sentiment: Carlyle Secured Lending posted additional beats. The affiliated lending company reported non-GAAP net investment income of $0.35 per share and total investment income of $62.09 million, both above estimates, and maintained its quarterly dividend. The direct effect on Carlyle Group’s consolidated results is limited.
• Negative Sentiment: KBW remains at Hold. The reaffirmed cautious rating suggests the firm sees limited near-term upside after the recent advance. Carlyle’s elevated valuation and year-over-year revenue decline remain potential concerns, offsetting the earnings beat and growth initiatives. KBW rating update

Analysts Set New Price Targets

Several analysts have issued reports on CG shares. Evercore set a $51.00 price objective on shares of Carlyle Group in a research report on Thursday. Cfra downgraded shares of Carlyle Group to a “sell” rating and set a $45.00 target price for the company. in a research note on Friday, May 8th. Citigroup reaffirmed an “outperform” rating on shares of Carlyle Group in a research note on Thursday. Morgan Stanley set a $57.00 price objective on shares of Carlyle Group in a research report on Tuesday, July 21st. Finally, Weiss Ratings upgraded Carlyle Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, July 6th. Seven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Carlyle Group presently has a consensus rating of “Hold” and an average target price of $59.79.

Carlyle Group Profile

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager that invests across a range of strategies including private equity, real assets (such as real estate and infrastructure), global credit, and investment solutions. Founded in 1987 and headquartered in Washington, DC, Carlyle raises and manages investment funds that acquire, operate and exit companies and assets on behalf of institutional and private investors. The firm is publicly traded on the Nasdaq exchange and operates as an asset manager and investment advisor rather than as an operating company.

Carlyle’s core activities include sourcing and executing private equity buyouts and growth investments, originating and managing credit and financing solutions, and acquiring and operating real asset portfolios.