HB Wealth Management LLC Sells 759 Shares of Carlyle Group Inc. $CG

HB Wealth Management LLC lowered its stake in Carlyle Group Inc. (NASDAQ:CG) by 6.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,278 shares of the financial services provider’s stock after selling 759 shares during the quarter. HB Wealth Management LLC’s holdings in Carlyle Group were worth $580,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CG. Vanguard Group Inc. grew its position in shares of Carlyle Group by 4.9% during the first quarter. Vanguard Group Inc. now owns 24,292,937 shares of the financial services provider’s stock worth $1,058,929,000 after purchasing an additional 1,131,514 shares in the last quarter. Citigroup Inc. grew its position in shares of Carlyle Group by 484.4% during the first quarter. Citigroup Inc. now owns 623,440 shares of the financial services provider’s stock worth $27,176,000 after purchasing an additional 516,761 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Carlyle Group by 21.7% during the first quarter. Ameriprise Financial Inc. now owns 2,722,737 shares of the financial services provider’s stock worth $118,684,000 after purchasing an additional 485,488 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Carlyle Group during the first quarter worth about $20,793,000. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Carlyle Group by 7.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 6,827,559 shares of the financial services provider’s stock worth $297,613,000 after purchasing an additional 476,127 shares in the last quarter. Hedge funds and other institutional investors own 55.88% of the company’s stock.

Insider Activity

In related news, General Counsel Jeffrey W. Ferguson sold 202,606 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $64.23, for a total transaction of $13,013,383.38. Following the completion of the sale, the general counsel directly owned 753,255 shares of the company’s stock, valued at approximately $48,381,568.65. This trade represents a 21.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 26.30% of the company’s stock.

Carlyle Group Price Performance

NASDAQ:CG opened at $63.48 on Friday. The firm has a market capitalization of $22.96 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 1.15 and a beta of 2.00. Carlyle Group Inc. has a 1 year low of $33.02 and a 1 year high of $69.85. The business has a 50 day simple moving average of $63.99 and a 200-day simple moving average of $52.33. The company has a debt-to-equity ratio of 1.52, a current ratio of 2.24 and a quick ratio of 2.24.

Carlyle Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Monday, August 18th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Monday, August 18th. Carlyle Group’s dividend payout ratio (DPR) is currently 40.94%.

Analysts Set New Price Targets

Several research firms recently issued reports on CG. BMO Capital Markets initiated coverage on Carlyle Group in a research report on Friday. They set an “outperform” rating and a $74.00 target price for the company. JMP Securities raised their price target on Carlyle Group from $70.00 to $75.00 and gave the company a “market outperform” rating in a report on Thursday, August 14th. Citigroup restated an “outperform” rating on shares of Carlyle Group in a report on Thursday, August 14th. Evercore ISI raised their price target on Carlyle Group from $45.00 to $58.00 and gave the company an “in-line” rating in a report on Thursday, July 10th. Finally, Jefferies Financial Group raised their price target on Carlyle Group from $54.00 to $66.00 and gave the company a “hold” rating in a report on Wednesday, August 13th. Seven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Carlyle Group has a consensus rating of “Hold” and an average target price of $60.87.

About Carlyle Group

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.