Deroy & Devereaux Private Investment Counsel Inc. Sells 20,550 Shares of Carlyle Group Inc. $CG

Deroy & Devereaux Private Investment Counsel Inc. lowered its stake in shares of Carlyle Group Inc. (NASDAQ:CG) by 25.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,635 shares of the financial services provider’s stock after selling 20,550 shares during the period. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Carlyle Group were worth $3,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Generali Asset Management SPA SGR bought a new stake in shares of Carlyle Group in the third quarter worth about $1,913,000. Allspring Global Investments Holdings LLC bought a new stake in Carlyle Group in the 2nd quarter worth approximately $236,000. Galvin Gaustad & Stein LLC raised its holdings in shares of Carlyle Group by 54.4% during the 3rd quarter. Galvin Gaustad & Stein LLC now owns 233,054 shares of the financial services provider’s stock worth $14,612,000 after acquiring an additional 82,094 shares in the last quarter. FFG Partners LLC bought a new position in shares of Carlyle Group during the 3rd quarter valued at approximately $1,713,000. Finally, Pallas Capital Advisors LLC bought a new stake in Carlyle Group in the second quarter worth $308,000. 55.88% of the stock is owned by hedge funds and other institutional investors.

Carlyle Group Stock Up 0.9%

Shares of NASDAQ:CG opened at $66.12 on Friday. The firm has a market capitalization of $23.83 billion, a PE ratio of 36.94, a price-to-earnings-growth ratio of 1.21 and a beta of 2.04. The business has a 50 day simple moving average of $57.95 and a two-hundred day simple moving average of $59.91. Carlyle Group Inc. has a 1 year low of $33.02 and a 1 year high of $69.85. The company has a debt-to-equity ratio of 1.78, a current ratio of 2.49 and a quick ratio of 2.49.

Carlyle Group (NASDAQ:CG) last issued its quarterly earnings results on Friday, November 7th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.98. The firm had revenue of $782.50 million during the quarter, compared to analyst estimates of $848.51 million. Carlyle Group had a return on equity of 23.46% and a net margin of 16.91%.During the same period last year, the company earned $0.95 EPS. On average, equities analysts predict that Carlyle Group Inc. will post 4.48 EPS for the current year.

Carlyle Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Monday, November 10th were issued a $0.35 dividend. The ex-dividend date was Monday, November 10th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.1%. Carlyle Group’s dividend payout ratio is presently 78.21%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. TD Cowen dropped their price objective on shares of Carlyle Group from $77.00 to $76.00 and set a “buy” rating for the company in a research note on Wednesday. BMO Capital Markets began coverage on Carlyle Group in a research report on Friday, October 3rd. They issued an “outperform” rating and a $74.00 price target for the company. UBS Group upped their price objective on Carlyle Group from $74.00 to $81.00 and gave the company a “buy” rating in a research report on Tuesday. Wall Street Zen cut Carlyle Group from a “hold” rating to a “sell” rating in a report on Sunday, January 11th. Finally, JPMorgan Chase & Co. decreased their price target on Carlyle Group from $68.00 to $66.00 and set a “neutral” rating on the stock in a report on Monday, November 3rd. Eight investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $67.08.

Insider Buying and Selling

In related news, Director David M. Rubenstein sold 625,000 shares of Carlyle Group stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $56.55, for a total transaction of $35,343,750.00. Following the completion of the sale, the director owned 27,999,644 shares in the company, valued at $1,583,379,868.20. This trade represents a 2.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 26.30% of the stock is owned by corporate insiders.

Carlyle Group Profile

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager that invests across a range of strategies including private equity, real assets (such as real estate and infrastructure), global credit, and investment solutions. Founded in 1987 and headquartered in Washington, DC, Carlyle raises and manages investment funds that acquire, operate and exit companies and assets on behalf of institutional and private investors. The firm is publicly traded on the Nasdaq exchange and operates as an asset manager and investment advisor rather than as an operating company.

Carlyle’s core activities include sourcing and executing private equity buyouts and growth investments, originating and managing credit and financing solutions, and acquiring and operating real asset portfolios.