Putnam Investments LLC Sells 53,979 Shares of The Carlyle Group Inc. (NASDAQ:CG)

Putnam Investments LLC cut its holdings in The Carlyle Group Inc. (NASDAQ:CG) by 10.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 479,813 shares of the financial services provider’s stock after selling 53,979 shares during the period. Putnam Investments LLC owned 0.13% of The Carlyle Group worth $14,903,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Toroso Investments LLC boosted its holdings in The Carlyle Group by 1.9% in the 4th quarter. Toroso Investments LLC now owns 16,518 shares of the financial services provider’s stock worth $493,000 after buying an additional 304 shares during the period. Altshuler Shaham Ltd lifted its stake in The Carlyle Group by 13.3% in the 4th quarter. Altshuler Shaham Ltd now owns 3,775 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 442 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in The Carlyle Group by 0.6% in the 1st quarter. Asset Management One Co. Ltd. now owns 80,384 shares of the financial services provider’s stock worth $2,497,000 after purchasing an additional 460 shares in the last quarter. American International Group Inc. lifted its stake in The Carlyle Group by 27.6% in the 2nd quarter. American International Group Inc. now owns 2,166 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 468 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its stake in The Carlyle Group by 2.2% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 22,448 shares of the financial services provider’s stock worth $580,000 after purchasing an additional 491 shares in the last quarter. 55.88% of the stock is owned by institutional investors.

The Carlyle Group Trading Up 1.6 %

Shares of CG opened at $32.68 on Friday. The firm’s 50-day moving average price is $32.50 and its 200-day moving average price is $30.92. The firm has a market capitalization of $11.76 billion, a price-to-earnings ratio of 28.92 and a beta of 1.70. The company has a current ratio of 2.80, a quick ratio of 2.79 and a debt-to-equity ratio of 1.32. The Carlyle Group Inc. has a 1-year low of $24.59 and a 1-year high of $38.32.

The Carlyle Group (NASDAQ:CG) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.23. The firm had revenue of $977.90 million for the quarter, compared to analyst estimates of $809.12 million. The Carlyle Group had a net margin of 13.11% and a return on equity of 24.12%. Sell-side analysts anticipate that The Carlyle Group Inc. will post 2.99 EPS for the current year.

The Carlyle Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 23rd. Investors of record on Tuesday, August 15th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.28%. The ex-dividend date was Monday, August 14th. The Carlyle Group’s payout ratio is currently 123.89%.

Insider Buying and Selling

In other The Carlyle Group news, major shareholder Subsidiary Holdings L.L.C. Cg acquired 3,012,049 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were acquired at an average price of $8.30 per share, with a total value of $25,000,006.70. Following the completion of the purchase, the insider now directly owns 3,012,049 shares of the company’s stock, valued at approximately $25,000,006.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Subsidiary Holdings L.L.C. Cg bought 3,012,049 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was acquired at an average cost of $8.30 per share, with a total value of $25,000,006.70. Following the completion of the acquisition, the insider now owns 3,012,049 shares of the company’s stock, valued at $25,000,006.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Curtis L. Buser sold 25,828 shares of The Carlyle Group stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $32.36, for a total transaction of $835,794.08. Following the completion of the transaction, the chief financial officer now directly owns 1,221,416 shares of the company’s stock, valued at $39,525,021.76. The disclosure for this sale can be found here. Insiders have sold 84,916 shares of company stock valued at $2,747,882 over the last quarter. Corporate insiders own 27.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on CG shares. Piper Sandler lowered their target price on shares of The Carlyle Group from $42.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, August 3rd. Citigroup started coverage on shares of The Carlyle Group in a research report on Thursday, May 18th. They set a “buy” rating and a $40.00 price objective on the stock. TheStreet cut shares of The Carlyle Group from a “b-” rating to a “c+” rating in a research report on Tuesday, August 15th. StockNews.com started coverage on shares of The Carlyle Group in a research report on Saturday, August 19th. They set a “sell” rating on the stock. Finally, UBS Group raised their price objective on shares of The Carlyle Group from $28.00 to $35.00 and gave the company a “neutral” rating in a research report on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.36.

The Carlyle Group Company Profile

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.