The Carlyle Group Inc. (NASDAQ:CG) Shares Acquired by abrdn plc

abrdn plc raised its position in shares of The Carlyle Group Inc. (NASDAQ:CG) by 103.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 72,456 shares of the financial services provider’s stock after acquiring an additional 36,760 shares during the quarter. abrdn plc’s holdings in The Carlyle Group were worth $2,948,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Teacher Retirement System of Texas raised its holdings in shares of The Carlyle Group by 2.3% during the third quarter. Teacher Retirement System of Texas now owns 16,797 shares of the financial services provider’s stock valued at $507,000 after acquiring an additional 372 shares during the last quarter. Fifth Third Bancorp grew its position in shares of The Carlyle Group by 25.6% in the fourth quarter. Fifth Third Bancorp now owns 2,191 shares of the financial services provider’s stock valued at $89,000 after purchasing an additional 446 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of The Carlyle Group by 3.1% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 15,184 shares of the financial services provider’s stock valued at $458,000 after purchasing an additional 460 shares in the last quarter. Treasurer of the State of North Carolina grew its position in shares of The Carlyle Group by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 92,654 shares of the financial services provider’s stock valued at $2,794,000 after purchasing an additional 470 shares in the last quarter. Finally, Herbst Group LLC grew its position in shares of The Carlyle Group by 1.5% in the fourth quarter. Herbst Group LLC now owns 32,900 shares of the financial services provider’s stock valued at $1,339,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 55.88% of the company’s stock.

Insider Activity

In related news, major shareholder Carlyle Group Inc. acquired 190,000 shares of The Carlyle Group stock in a transaction dated Thursday, February 8th. The shares were acquired at an average cost of $12.95 per share, for a total transaction of $2,460,500.00. Following the completion of the purchase, the insider now owns 1,066,189 shares in the company, valued at $13,807,147.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 27.00% of the company’s stock.

The Carlyle Group Trading Up 1.1 %

CG opened at $46.11 on Monday. The Carlyle Group Inc. has a 52 week low of $25.20 and a 52 week high of $48.52. The business has a fifty day simple moving average of $45.94 and a 200-day simple moving average of $39.70. The firm has a market cap of $16.70 billion, a P/E ratio of -27.28, a P/E/G ratio of 0.98 and a beta of 1.79. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 1.52.

The Carlyle Group (NASDAQ:CG) last announced its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.08. The business had revenue of $896.40 million for the quarter, compared to analysts’ expectations of $860.68 million. The Carlyle Group had a positive return on equity of 19.74% and a negative net margin of 20.53%. The company’s revenue for the quarter was down 15.4% compared to the same quarter last year. During the same period last year, the firm earned $1.01 earnings per share. On average, equities analysts expect that The Carlyle Group Inc. will post 3.97 earnings per share for the current year.

The Carlyle Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 23rd were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.04%. The ex-dividend date was Thursday, February 22nd. The Carlyle Group’s payout ratio is currently -82.84%.

Analysts Set New Price Targets

CG has been the subject of a number of analyst reports. JMP Securities upped their price target on The Carlyle Group from $52.00 to $58.00 and gave the company a “market outperform” rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. upped their price target on The Carlyle Group from $39.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. UBS Group increased their price objective on The Carlyle Group from $46.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Morgan Stanley increased their price objective on The Carlyle Group from $34.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 24th. Finally, TD Cowen began coverage on The Carlyle Group in a research report on Thursday, January 4th. They issued a “market perform” rating and a $42.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $43.07.

The Carlyle Group 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.