PNC Financial Services Group Inc. Increases Position in Carlyle Group Inc. $CG

PNC Financial Services Group Inc. raised its position in Carlyle Group Inc. (NASDAQ:CG) by 57.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,326 shares of the financial services provider’s stock after purchasing an additional 20,454 shares during the period. PNC Financial Services Group Inc.’s holdings in Carlyle Group were worth $3,329,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Fifth Third Bancorp increased its position in shares of Carlyle Group by 28.7% in the 3rd quarter. Fifth Third Bancorp now owns 107,198 shares of the financial services provider’s stock valued at $6,721,000 after purchasing an additional 23,901 shares during the last quarter. Swiss Life Asset Management Ltd increased its position in shares of Carlyle Group by 162.3% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 119,907 shares of the financial services provider’s stock valued at $7,518,000 after purchasing an additional 74,190 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Carlyle Group by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 25,434,009 shares of the financial services provider’s stock valued at $1,594,712,000 after purchasing an additional 714,428 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of Carlyle Group by 16.3% in the 3rd quarter. New York State Common Retirement Fund now owns 207,395 shares of the financial services provider’s stock valued at $13,004,000 after purchasing an additional 29,000 shares during the last quarter. Finally, Onyx Bridge Wealth Group LLC purchased a new stake in shares of Carlyle Group in the 3rd quarter valued at approximately $1,564,000. 55.88% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Carlyle Group

In other news, Director David M. Rubenstein sold 500,000 shares of the firm’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $46.68, for a total value of $23,340,000.00. Following the completion of the sale, the director owned 27,399,644 shares in the company, valued at approximately $1,279,015,381.92. This trade represents a 1.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 26.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CG shares. Cfra downgraded shares of Carlyle Group to a “sell” rating and set a $45.00 target price on the stock. in a research report on Friday, May 8th. UBS Group dropped their target price on shares of Carlyle Group from $81.00 to $65.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Morgan Stanley dropped their target price on shares of Carlyle Group from $71.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 21st. TD Cowen dropped their target price on shares of Carlyle Group from $53.00 to $50.00 and set a “hold” rating on the stock in a research report on Monday, May 18th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Carlyle Group from $66.00 to $63.00 and set a “neutral” rating on the stock in a research report on Friday, May 8th. Seven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $62.00.

Carlyle Group Stock Performance

Shares of Carlyle Group stock opened at $45.43 on Tuesday. Carlyle Group Inc. has a 1 year low of $43.19 and a 1 year high of $69.85. The company has a debt-to-equity ratio of 1.92, a quick ratio of 2.55 and a current ratio of 2.55. The company has a market capitalization of $16.35 billion, a P/E ratio of 31.12, a PEG ratio of 1.55 and a beta of 1.89. The company’s fifty day moving average is $48.29 and its two-hundred day moving average is $53.81.

Carlyle Group (NASDAQ:CG) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.02). Carlyle Group had a return on equity of 20.95% and a net margin of 13.46%.The business had revenue of $750.90 million for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the business posted $1.14 earnings per share. The company’s revenue for the quarter was down 28.0% on a year-over-year basis. Analysts forecast that Carlyle Group Inc. will post 4.05 earnings per share for the current year.

Carlyle Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 28th. Stockholders of record on Monday, May 18th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Monday, May 18th. Carlyle Group’s dividend payout ratio (DPR) is 95.89%.

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.