Bamco Inc. NY Decreases Stock Position in Carlyle Group Inc. $CG

Bamco Inc. NY reduced its holdings in shares of Carlyle Group Inc. (NASDAQ:CG) by 5.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,492,785 shares of the financial services provider’s stock after selling 94,268 shares during the quarter. Bamco Inc. NY owned approximately 0.41% of Carlyle Group worth $76,729,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new position in Carlyle Group during the second quarter worth $236,000. Pallas Capital Advisors LLC acquired a new stake in shares of Carlyle Group during the second quarter valued at $308,000. Brandywine Global Investment Management LLC acquired a new stake in shares of Carlyle Group during the first quarter valued at $9,511,000. Wellington Shields Capital Management LLC raised its stake in Carlyle Group by 11.0% in the 2nd quarter. Wellington Shields Capital Management LLC now owns 89,452 shares of the financial services provider’s stock valued at $4,598,000 after purchasing an additional 8,894 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Carlyle Group by 14.2% in the 1st quarter. Invesco Ltd. now owns 742,934 shares of the financial services provider’s stock valued at $32,384,000 after purchasing an additional 92,199 shares in the last quarter. 55.88% of the stock is currently owned by institutional investors and hedge funds.

Carlyle Group Price Performance

Shares of Carlyle Group stock opened at $58.35 on Friday. The business’s fifty day moving average price is $55.75 and its 200 day moving average price is $57.42. Carlyle Group Inc. has a twelve month low of $33.02 and a twelve month high of $69.85. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 1.78. The stock has a market capitalization of $21.03 billion, a P/E ratio of 32.60, a PEG ratio of 1.49 and a beta of 2.06.

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

Carlyle Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Monday, November 10th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Monday, November 10th. Carlyle Group’s payout ratio is 78.21%.

Insider Activity

In other news, Director David M. Rubenstein sold 625,000 shares of the stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $56.55, for a total value of $35,343,750.00. Following the completion of the sale, the director owned 27,999,644 shares of the company’s stock, valued at $1,583,379,868.20. This represents a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 26.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CG. 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 for the company. Citigroup cut their price target on Carlyle Group from $74.00 to $71.00 and set a “buy” rating for the company in a report on Monday, November 3rd. UBS Group began coverage on Carlyle Group in a report on Thursday. They set a “buy” rating and a $74.00 price objective on the stock. Barclays upped their target price on Carlyle Group from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday. Finally, TD Cowen lowered their price target on Carlyle Group from $78.00 to $77.00 and set a “buy” rating for the company in a report on Monday, November 3rd. Eight equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $66.14.

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.