Louisiana State Employees Retirement System Buys New Shares in Carlyle Group Inc. $CG

Louisiana State Employees Retirement System purchased a new position in shares of Carlyle Group Inc. (NASDAQ:CG) during the 1st quarter, Holdings Channel reports. The fund purchased 75,200 shares of the financial services provider’s stock, valued at approximately $3,639,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fifth Third Wealth Advisors LLC boosted its position in Carlyle Group by 10.9% during the first quarter. Fifth Third Wealth Advisors LLC now owns 7,469 shares of the financial services provider’s stock valued at $361,000 after purchasing an additional 734 shares during the last quarter. OP Asset Management Ltd bought a new position in shares of Carlyle Group in the first quarter valued at $2,030,000. EdgeRock Capital LLC increased its holdings in Carlyle Group by 6.4% during the first quarter. EdgeRock Capital LLC now owns 8,045 shares of the financial services provider’s stock worth $389,000 after buying an additional 481 shares during the last quarter. Krilogy Financial LLC bought a new stake in Carlyle Group during the first quarter worth $241,000. Finally, Sterneck Capital Management LLC lifted its stake in Carlyle Group by 66.8% in the first quarter. Sterneck Capital Management LLC now owns 11,883 shares of the financial services provider’s stock valued at $575,000 after acquiring an additional 4,758 shares during the last quarter. Institutional investors and hedge funds own 55.88% of the company’s stock.

Carlyle Group Price Performance

Shares of NASDAQ CG opened at $41.40 on Friday. The business has a fifty day moving average price of $46.73 and a two-hundred day moving average price of $52.30. The stock has a market capitalization of $14.90 billion, a PE ratio of 28.36, a P/E/G ratio of 1.41 and a beta of 1.84. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.55 and a quick ratio of 2.55. Carlyle Group Inc. has a fifty-two week low of $40.47 and a fifty-two week high of $69.85.

Carlyle Group (NASDAQ:CG) last released its earnings results 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). The company had revenue of $750.90 million for the quarter, compared to analyst estimates of $1.01 billion. Carlyle Group had a return on equity of 20.95% and a net margin of 13.46%.The business’s revenue for the quarter was down 28.0% compared to the same quarter last year. During the same period last year, the company posted $1.14 earnings per share. As a group, equities analysts predict that Carlyle Group Inc. will post 4.05 earnings per share for the current fiscal year.

Carlyle Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Monday, May 18th were given a $0.35 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.40 annualized dividend and a dividend yield of 3.4%. Carlyle Group’s payout ratio is presently 95.89%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. 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. Royal Bank Of Canada downgraded Carlyle Group from an “outperform” rating to a “sector perform” rating and set a $58.00 target price for the company. in a research note on Monday, May 11th. Barclays dropped their price target on Carlyle Group from $67.00 to $63.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Weiss Ratings cut shares of Carlyle Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, June 17th. Finally, Morgan Stanley decreased their price objective on shares of Carlyle Group from $71.00 to $66.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 21st. Seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $62.00.

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.