Arizona State Retirement System Buys 13,539 Shares of Carlyle Group Inc. $CG

Arizona State Retirement System grew its stake in shares of Carlyle Group Inc. (NASDAQ:CG) by 19.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 82,810 shares of the financial services provider’s stock after purchasing an additional 13,539 shares during the period. Arizona State Retirement System’s holdings in Carlyle Group were worth $4,895,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CG. WFA of San Diego LLC bought a new stake in Carlyle Group during the 2nd quarter worth approximately $26,000. Geneos Wealth Management Inc. grew its stake in shares of Carlyle Group by 755.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 650 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 574 shares in the last quarter. Bernard Wealth Management Corp. bought a new stake in shares of Carlyle Group in the 4th quarter worth $30,000. Quarry LP bought a new stake in shares of Carlyle Group in the 3rd quarter worth $33,000. Finally, Motco bought a new stake in shares of Carlyle Group in the 3rd quarter worth $40,000. 55.88% of the stock is owned by institutional investors.

Carlyle Group Price Performance

Shares of NASDAQ CG opened at $47.72 on Tuesday. The stock has a fifty day simple moving average of $49.35 and a two-hundred day simple moving average of $54.92. Carlyle Group Inc. has a 1-year low of $37.34 and a 1-year high of $69.85. The firm has a market cap of $17.24 billion, a price-to-earnings ratio of 21.89, a price-to-earnings-growth ratio of 1.04 and a beta of 2.05. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 1.90.

Carlyle Group (NASDAQ:CG) last issued its earnings results on Thursday, February 5th. The financial services provider reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.03). The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.09 billion. Carlyle Group had a return on equity of 23.62% and a net margin of 16.92%.Carlyle Group’s revenue for the quarter was up 84.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.92 EPS. Analysts anticipate that Carlyle Group Inc. will post 4.41 earnings per share for the current year.

Carlyle Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Monday, February 16th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.40 annualized dividend and a yield of 2.9%. Carlyle Group’s dividend payout ratio (DPR) is currently 64.22%.

Insider Transactions at Carlyle Group

In other Carlyle Group news, Director David M. Rubenstein sold 500,000 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $46.68, for a total transaction of $23,340,000.00. Following the completion of the transaction, the director owned 27,399,644 shares of the company’s stock, valued at $1,279,015,381.92. This represents a 1.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 26.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CG. Morgan Stanley reduced their target price on shares of Carlyle Group from $71.00 to $66.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Carlyle Group in a report on Wednesday, January 21st. Evercore set a $56.00 target price on Carlyle Group in a report on Tuesday, April 21st. TD Cowen upped their target price on Carlyle Group from $65.00 to $67.00 and gave the company a “buy” rating in a report on Friday, February 27th. Finally, JPMorgan Chase & Co. increased their price target on shares of Carlyle Group from $66.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. Nine investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Carlyle Group has a consensus rating of “Moderate Buy” and an average target price of $65.64.

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.