AdvisorNet Financial Inc Boosts Stake in The Carlyle Group Inc. (NASDAQ:CG)

AdvisorNet Financial Inc lifted its stake in The Carlyle Group Inc. (NASDAQ:CGGet Rating) by 4.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,871 shares of the financial services provider’s stock after purchasing an additional 789 shares during the period. AdvisorNet Financial Inc’s holdings in The Carlyle Group were worth $534,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Westside Investment Management Inc. purchased a new stake in The Carlyle Group in the 1st quarter worth $28,000. Burleson & Company LLC purchased a new stake in The Carlyle Group in the 1st quarter worth $29,000. CVA Family Office LLC increased its stake in The Carlyle Group by 257.1% in the 1st quarter. CVA Family Office LLC now owns 625 shares of the financial services provider’s stock worth $31,000 after buying an additional 450 shares in the last quarter. Parkside Investments LLC purchased a new stake in The Carlyle Group in the 1st quarter worth $48,000. Finally, Herold Advisors Inc. purchased a new stake in The Carlyle Group in the 1st quarter worth $49,000. 94.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CG. Morgan Stanley lifted their target price on The Carlyle Group from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 2nd. Evercore ISI cut The Carlyle Group from a “buy” rating to a “hold” rating and reduced their target price for the stock from $55.00 to $38.00 in a report on Wednesday, August 10th. JMP Securities began coverage on The Carlyle Group in a report on Wednesday, June 8th. They issued an “outperform” rating and a $60.00 target price on the stock. Royal Bank of Canada reduced their target price on The Carlyle Group from $15.00 to $11.00 and set an “outperform” rating on the stock in a report on Thursday, August 11th. Finally, The Goldman Sachs Group dropped their price target on The Carlyle Group from $58.00 to $48.00 and set a “buy” rating for the company in a research report on Wednesday, June 29th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $44.46.

The Carlyle Group Stock Down 1.7 %

Shares of NASDAQ:CG opened at $30.89 on Monday. The Carlyle Group Inc. has a 1 year low of $30.01 and a 1 year high of $60.62. The business has a 50 day simple moving average of $34.00 and a two-hundred day simple moving average of $37.55. The firm has a market capitalization of $11.16 billion, a PE ratio of 5.65, a price-to-earnings-growth ratio of 0.32 and a beta of 1.66. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.63 and a quick ratio of 2.63.

The Carlyle Group (NASDAQ:CGGet Rating) last announced its earnings results on Thursday, July 28th. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.06. The Carlyle Group had a return on equity of 40.15% and a net margin of 31.86%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.17 billion. On average, equities analysts predict that The Carlyle Group Inc. will post 4.03 EPS for the current year.

The Carlyle Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 16th. Stockholders of record on Tuesday, August 9th were paid a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend was Monday, August 8th. The Carlyle Group’s dividend payout ratio is presently 23.77%.

Insider Activity

In other news, General Counsel Jeffrey W. Ferguson sold 9,070 shares of The Carlyle Group stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $37.85, for a total transaction of $343,299.50. Following the completion of the sale, the general counsel now owns 1,028,736 shares of the company’s stock, valued at $38,937,657.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Charles Elliott Jr. Andrews sold 4,698 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $37.85, for a total value of $177,819.30. Following the completion of the transaction, the chief accounting officer now owns 35,796 shares of the company’s stock, valued at $1,354,878.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Jeffrey W. Ferguson sold 9,070 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $37.85, for a total transaction of $343,299.50. Following the completion of the transaction, the general counsel now directly owns 1,028,736 shares of the company’s stock, valued at approximately $38,937,657.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 630,787 shares of company stock valued at $29,311,622. Corporate insiders own 29.80% of the company’s stock.

The Carlyle Group Profile

(Get Rating)

The Carlyle Group Inc is an investment firm specializing in direct and fund of fund investments. Within direct investments, it specializes in management-led/ Leveraged buyouts, privatizations, divestitures, strategic minority equity investments, structured credit, global distressed and corporate opportunities, small and middle market, equity private placements, consolidations and buildups, senior debt, mezzanine and leveraged finance, and venture and growth capital financings, seed/startup, early venture, emerging growth, turnaround, mid venture, late venture, PIPES.

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Institutional Ownership by Quarter for The Carlyle Group (NASDAQ:CG)

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