State of Michigan Retirement System Acquires 10,800 Shares of Carlyle Group Inc. $CG

State of Michigan Retirement System raised its stake in shares of Carlyle Group Inc. (NASDAQ:CG) by 21.1% during the third quarter, Holdings Channel reports. The firm owned 62,000 shares of the financial services provider’s stock after buying an additional 10,800 shares during the period. State of Michigan Retirement System’s holdings in Carlyle Group were worth $3,887,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CG. HighPoint Advisor Group LLC bought a new stake in Carlyle Group in the third quarter valued at $373,000. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Carlyle Group by 200.7% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 35,412 shares of the financial services provider’s stock worth $2,220,000 after purchasing an additional 23,637 shares during the last quarter. Savant Capital LLC grew its stake in Carlyle Group by 3.4% during the third quarter. Savant Capital LLC now owns 7,888 shares of the financial services provider’s stock worth $495,000 after buying an additional 263 shares during the last quarter. J.W. Cole Advisors Inc. raised its stake in shares of Carlyle Group by 8.4% in the third quarter. J.W. Cole Advisors Inc. now owns 11,598 shares of the financial services provider’s stock valued at $727,000 after acquiring an additional 895 shares during the last quarter. Finally, Hantz Financial Services Inc. grew its position in Carlyle Group by 66.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 2,832 shares of the financial services provider’s stock worth $178,000 after acquiring an additional 1,129 shares during the last quarter. Institutional investors own 55.88% of the company’s stock.

Insiders Place Their Bets

In other news, Director David M. Rubenstein sold 625,000 shares of Carlyle Group stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $56.55, for a total transaction of $35,343,750.00. Following the transaction, the director directly owned 27,999,644 shares of the company’s stock, valued at $1,583,379,868.20. This trade represents a 2.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 26.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on CG shares. Weiss Ratings reissued a “hold (c)” rating on shares of Carlyle Group in a research note on Wednesday, January 21st. Wall Street Zen downgraded shares of Carlyle Group from a “hold” rating to a “sell” rating in a research report on Sunday, January 11th. Morgan Stanley set a $71.00 price objective on shares of Carlyle Group in a research report on Tuesday, January 27th. TD Cowen reissued a “buy” rating on shares of Carlyle Group in a research note on Wednesday, January 14th. Finally, Keefe, Bruyette & Woods dropped their price objective 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 equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $68.08.

Carlyle Group Stock Down 2.6%

Shares of Carlyle Group stock opened at $57.68 on Wednesday. Carlyle Group Inc. has a 12 month low of $33.02 and a 12 month high of $69.85. The business has a fifty day simple moving average of $60.65 and a 200 day simple moving average of $60.27. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 1.78. The stock has a market cap of $20.79 billion, a PE ratio of 32.23, a price-to-earnings-growth ratio of 1.06 and a beta of 2.05.

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

Carlyle Group Announces Dividend

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

Carlyle Group Company 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.