Raymond James & Associates Sells 6,934 Shares of The Carlyle Group Inc. (NASDAQ:CG)

Raymond James & Associates lowered its stake in shares of The Carlyle Group Inc. (NASDAQ:CG – Get Rating) by 3.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 213,903 shares of the financial services provider’s stock after selling 6,934 shares during the period. Raymond James & Associates owned 0.06% of The Carlyle Group worth $6,383,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Column Capital Advisors LLC increased its stake in shares of The Carlyle Group by 477.0% during the 4th quarter. Column Capital Advisors LLC now owns 1,154 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 954 shares during the last quarter. Ameliora Wealth Management Ltd. bought a new position in shares of The Carlyle Group during the 3rd quarter worth approximately $38,000. Concord Wealth Partners bought a new position in shares of The Carlyle Group during the 4th quarter worth approximately $60,000. American International Group Inc. boosted its stake in shares of The Carlyle Group by 27.6% during the 2nd quarter. American International Group Inc. now owns 2,166 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 468 shares during the period. Finally, Zions Bancorporation N.A. lifted its stake in shares of The Carlyle Group by 141.3% during the 1st quarter. Zions Bancorporation N.A. now owns 2,186 shares of the financial services provider’s stock worth $107,000 after buying an additional 1,280 shares during the last quarter. 52.69% of the stock is currently owned by institutional investors and hedge funds.

The Carlyle Group Trading Down 0.1 %

CG opened at $27.30 on Monday. The company’s 50 day moving average is $29.35 and its 200-day moving average is $31.06. The company has a market cap of $9.89 billion, a P/E ratio of 13.19 and a beta of 1.67. The Carlyle Group Inc. has a 1-year low of $24.59 and a 1-year high of $40.73. The company has a current ratio of 2.82, a quick ratio of 2.80 and a debt-to-equity ratio of 1.23.

The Carlyle Group (NASDAQ:CG – Get Rating) last posted its earnings results on Thursday, May 4th. The financial services provider reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). The Carlyle Group had a return on equity of 25.89% and a net margin of 20.29%. The company had revenue of $754.20 million for the quarter, compared to the consensus estimate of $805.50 million. During the same period in the previous year, the firm posted $0.74 EPS. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. Equities research analysts predict that The Carlyle Group Inc. will post 2.81 earnings per share for the current fiscal year.

The Carlyle Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 23rd. Stockholders of record on Tuesday, May 16th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, May 15th. This represents a $1.40 annualized dividend and a dividend yield of 5.13%. This is an increase from The Carlyle Group’s previous quarterly dividend of $0.33. The Carlyle Group’s dividend payout ratio is currently 67.63%.

Insider Activity at The Carlyle Group

In related news, major shareholder Carlyle Group Inc. sold 2,000,000 shares of the business’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $86.12, for a total value of $172,240,000.00. Following the sale, the insider now owns 6,482,732 shares of the company’s stock, valued at $558,292,879.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 27.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CG shares. BMO Capital Markets cut their target price on shares of The Carlyle Group from $44.00 to $37.00 in a research note on Friday, May 5th. Citigroup assumed coverage on The Carlyle Group in a research note on Thursday. They set a “buy” rating and a $40.00 target price on the stock. Piper Sandler lowered their target price on The Carlyle Group from $46.00 to $42.00 in a research note on Thursday. The Goldman Sachs Group upped their price target on shares of The Carlyle Group from $37.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, February 9th. Finally, Oppenheimer upped their price target on shares of The Carlyle Group from $64.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, April 13th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.18.

The Carlyle Group Profile

(Get Rating)

The Carlyle Group, Inc engages in multi-product global alternative asset management. It operates through the following segments: Corporate Private Equity, Real Assets, Global Credit, and Investment Solutions. The Corporate Private Equity segment focuses on buyout, and growth capital funds, which pursue a variety of corporate investments of different sizes and growth potentials.