Wesbanco Bank Inc. Sells 41,106 Shares of Carlyle Group Inc. $CG

Wesbanco Bank Inc. decreased its position in Carlyle Group Inc. (NASDAQ:CG) by 22.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 142,400 shares of the financial services provider’s stock after selling 41,106 shares during the quarter. Wesbanco Bank Inc.’s holdings in Carlyle Group were worth $8,929,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of CG. DMC Group LLC raised its position in Carlyle Group by 3.2% during the 3rd quarter. DMC Group LLC now owns 6,594 shares of the financial services provider’s stock valued at $413,000 after purchasing an additional 205 shares in the last quarter. Verdence Capital Advisors LLC boosted its stake in Carlyle Group by 1.8% in the 2nd quarter. Verdence Capital Advisors LLC now owns 11,673 shares of the financial services provider’s stock worth $600,000 after purchasing an additional 212 shares in the last quarter. Moors & Cabot Inc. grew its position in Carlyle Group by 2.1% during the 2nd quarter. Moors & Cabot Inc. now owns 11,029 shares of the financial services provider’s stock worth $567,000 after purchasing an additional 225 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in Carlyle Group by 3.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 7,422 shares of the financial services provider’s stock worth $381,000 after acquiring an additional 228 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in Carlyle Group by 0.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 42,023 shares of the financial services provider’s stock valued at $2,143,000 after purchasing an additional 263 shares during the last quarter. 55.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. UBS Group raised their price target on shares of Carlyle Group from $74.00 to $81.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Wall Street Zen cut Carlyle Group from a “hold” rating to a “sell” rating in a research report on Sunday, January 11th. JPMorgan Chase & Co. cut their price target on shares of Carlyle Group from $68.00 to $66.00 and set a “neutral” rating for the company in a report on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Carlyle Group in a report on Wednesday, January 21st. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Carlyle Group from $66.00 to $64.00 and set a “market perform” rating for the company in a research report on Monday, November 3rd. Seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Carlyle Group has a consensus rating of “Hold” and an average target price of $68.00.

Insiders Place Their Bets

In other news, Director David M. Rubenstein sold 625,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $56.55, for a total value of $35,343,750.00. Following the transaction, the director directly owned 27,999,644 shares in the company, valued at approximately $1,583,379,868.20. This represents a 2.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 26.30% of the stock is currently owned by company insiders.

Carlyle Group Stock Performance

CG opened at $59.21 on Tuesday. Carlyle Group Inc. has a twelve month low of $33.02 and a twelve month high of $69.85. The firm has a market capitalization of $21.34 billion, a PE ratio of 33.08, a PEG ratio of 1.05 and a beta of 2.05. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 1.78. The firm’s 50-day moving average price is $60.58 and its 200 day moving average price is $60.31.

Carlyle Group (NASDAQ:CG) last posted its quarterly earnings results on Friday, February 6th. The financial services provider reported $1.01 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.03). The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.09 billion. Carlyle Group had a net margin of 16.91% and a return on equity of 23.46%. Carlyle Group’s revenue for the quarter was up 84.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.92 EPS. As a group, sell-side analysts expect that Carlyle Group Inc. will post 4.48 EPS for the current fiscal year.

Carlyle Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 20th. Stockholders of record on Monday, February 16th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, February 13th. Carlyle Group’s dividend payout ratio is 78.21%.

About Carlyle Group

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.