Fifth Third Bancorp Boosts Holdings in Carlyle Group Inc. $CG

Fifth Third Bancorp grew its holdings in Carlyle Group Inc. (NASDAQ:CG) by 28.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,198 shares of the financial services provider’s stock after purchasing an additional 23,901 shares during the quarter. Fifth Third Bancorp’s holdings in Carlyle Group were worth $6,721,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Allworth Financial LP raised its holdings in shares of Carlyle Group by 150.3% in the second quarter. Allworth Financial LP now owns 498 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 299 shares during the last quarter. WFA of San Diego LLC acquired a new position in Carlyle Group in the 2nd quarter valued at about $26,000. Geneos Wealth Management Inc. lifted its holdings in Carlyle Group by 755.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 650 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 574 shares in the last quarter. Motco acquired a new stake in shares of Carlyle Group during the 3rd quarter worth about $40,000. Finally, Root Financial Partners LLC acquired a new position in shares of Carlyle Group in the third quarter valued at approximately $44,000. Hedge funds and other institutional investors own 55.88% of the company’s stock.

Insider Buying and Selling

In other news, Director David M. Rubenstein sold 625,000 shares of the company’s stock in a transaction dated Wednesday, December 10th. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 26.30% of the stock is owned by company insiders.

Carlyle Group Stock Performance

Carlyle Group stock opened at $54.24 on Wednesday. The company has a market cap of $19.55 billion, a price-to-earnings ratio of 24.88, a price-to-earnings-growth ratio of 1.06 and a beta of 2.05. Carlyle Group Inc. has a 12 month low of $33.02 and a 12 month 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. The stock’s 50-day moving average is $60.41 and its 200-day moving average is $60.02.

Carlyle Group (NASDAQ:CG) last posted its earnings results on Friday, February 6th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.03). Carlyle Group had a return on equity of 23.98% and a net margin of 16.92%.The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the company posted $0.92 EPS. The firm’s revenue for the quarter was up 84.1% compared to the same quarter last year. Equities 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 will be paid on Friday, February 20th. Investors of record on Monday, February 16th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, February 13th. Carlyle Group’s dividend payout ratio is 64.22%.

Analyst Upgrades and Downgrades

CG has been the subject of several recent analyst reports. TD Cowen reaffirmed a “buy” rating on shares of Carlyle Group in a research note on Wednesday, January 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Carlyle Group in a research report on Wednesday, January 21st. Morgan Stanley set a $71.00 target price on Carlyle Group in a research report on Tuesday, January 27th. UBS Group lifted their price target on Carlyle Group from $74.00 to $81.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Finally, Evercore increased their price objective on shares of Carlyle Group from $57.00 to $62.00 and gave the stock an “in-line” rating in a report on Thursday, January 22nd. Seven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $68.08.

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.