8,765 Shares in Carlyle Group Inc. $CG Purchased by Allstate Corp

Allstate Corp bought a new stake in shares of Carlyle Group Inc. (NASDAQ:CG) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 8,765 shares of the financial services provider’s stock, valued at approximately $550,000.

Other hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Carlyle Group by 1.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 22,011 shares of the financial services provider’s stock valued at $1,356,000 after purchasing an additional 373 shares in the last quarter. DMC Group LLC boosted its position in Carlyle Group by 3.2% in the 3rd quarter. DMC Group LLC now owns 6,594 shares of the financial services provider’s stock valued at $413,000 after buying an additional 205 shares during the period. Amalgamated Bank grew its stake in shares of Carlyle Group by 19.1% in the third quarter. Amalgamated Bank now owns 119,661 shares of the financial services provider’s stock worth $7,503,000 after acquiring an additional 19,225 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Carlyle Group by 6.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,618,075 shares of the financial services provider’s stock worth $477,653,000 after acquiring an additional 479,216 shares during the period. Finally, Maryland State Retirement & Pension System raised its stake in shares of Carlyle Group by 6.1% in the third quarter. Maryland State Retirement & Pension System now owns 13,486 shares of the financial services provider’s stock valued at $846,000 after acquiring an additional 775 shares in the last quarter. Institutional investors and hedge funds own 55.88% of the company’s stock.

Insider Transactions at Carlyle Group

In other Carlyle Group news, Director David M. Rubenstein sold 625,000 shares of Carlyle Group stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $56.55, for a total transaction of $35,343,750.00. Following the transaction, the director owned 27,999,644 shares of the company’s stock, valued at $1,583,379,868.20. The trade was a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 26.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CG shares. Evercore ISI upped their price target on Carlyle Group from $57.00 to $62.00 and gave the stock an “in-line” rating in a report on Thursday. Barclays boosted their price objective on Carlyle Group from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, December 12th. Morgan Stanley lifted their price target on shares of Carlyle Group from $65.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 21st. Wolfe Research reiterated an “outperform” rating on shares of Carlyle Group in a report on Wednesday, January 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Carlyle Group in a report on Wednesday, October 8th. Seven 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 a consensus rating of “Hold” and an average target price of $67.46.

Carlyle Group Trading Down 0.1%

NASDAQ CG opened at $62.35 on Friday. Carlyle Group Inc. has a 12 month low of $33.02 and a 12 month high of $69.85. The company has a market capitalization of $22.47 billion, a price-to-earnings ratio of 34.83, a price-to-earnings-growth ratio of 1.10 and a beta of 2.04. 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 firm’s fifty day moving average price is $58.96 and its 200 day moving average price is $60.24.

Carlyle Group (NASDAQ:CG) last released its quarterly earnings data on Friday, November 7th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, meeting 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 during the quarter, compared to the consensus estimate of $848.51 million. During the same quarter in the prior year, the firm posted $0.95 earnings per share. On average, sell-side analysts expect that Carlyle Group Inc. will post 4.48 earnings per share for the current fiscal year.

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.