Carlyle Group Inc. $CG Shares Sold by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. lessened its stake in Carlyle Group Inc. (NASDAQ:CG) by 2.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,771,630 shares of the financial services provider’s stock after selling 81,569 shares during the period. Beutel Goodman & Co Ltd. owned 0.77% of Carlyle Group worth $142,461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in CG. Allworth Financial LP boosted its position in shares of Carlyle Group by 150.3% in the 2nd quarter. Allworth Financial LP now owns 498 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 299 shares during the period. Geneos Wealth Management Inc. lifted its stake in Carlyle Group by 755.3% in the first quarter. Geneos Wealth Management Inc. now owns 650 shares of the financial services provider’s stock valued at $28,000 after buying an additional 574 shares during the last quarter. National Pension Service boosted its holdings in shares of Carlyle Group by 74.8% in the first quarter. National Pension Service now owns 869 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 372 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of Carlyle Group in the 2nd quarter valued at $38,000. Finally, Brooklyn Investment Group raised its position in Carlyle Group by 28.6% in the 1st quarter. Brooklyn Investment Group now owns 1,062 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 236 shares during the last quarter. Institutional investors and hedge funds own 55.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CG shares. Evercore ISI lowered their price objective on shares of Carlyle Group from $64.00 to $57.00 and set an “in-line” rating on the stock in a research report on Monday, November 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Carlyle Group in a research report on Wednesday, October 8th. Barclays reaffirmed an “overweight” rating and set a $74.00 price objective (up from $66.00) on shares of Carlyle Group in a research report on Thursday, August 7th. TD Cowen cut their price target on Carlyle Group from $78.00 to $77.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Finally, BMO Capital Markets assumed coverage on shares of Carlyle Group in a research report on Friday, October 3rd. They issued an “outperform” rating and a $74.00 price objective on the stock. Seven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Carlyle Group presently has a consensus rating of “Hold” and a consensus target price of $66.00.

Carlyle Group Stock Performance

Shares of CG opened at $56.30 on Friday. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 1.78. Carlyle Group Inc. has a 52-week low of $33.02 and a 52-week high of $69.85. The company has a 50-day simple moving average of $56.31 and a 200-day simple moving average of $56.88. The company has a market capitalization of $20.29 billion, a PE ratio of 31.45, a P/E/G ratio of 1.40 and a beta of 2.06.

Carlyle Group (NASDAQ:CG) last issued its earnings results on Friday, November 7th. The financial services provider reported $0.98 earnings per share for the quarter, hitting the consensus estimate of $0.98. Carlyle Group had a net margin of 16.91% and a return on equity of 23.46%. The company had revenue of $782.50 million for the quarter, compared to analyst estimates of $848.51 million. During the same period in the prior year, the business posted $0.95 earnings per share. Equities research analysts predict that Carlyle Group Inc. will post 4.48 earnings per share for the current fiscal year.

Carlyle Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Monday, November 10th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.40 annualized dividend and a yield of 2.5%. Carlyle Group’s payout ratio is currently 78.21%.

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.