David Rubenstein Sells 500,000 Shares of Carlyle Group (NASDAQ:CG) Stock

Carlyle Group Inc. (NASDAQ:CG) Director David Rubenstein sold 500,000 shares of the firm’s stock in a transaction dated 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 sale, the director owned 27,399,644 shares of the company’s stock, valued at approximately $1,279,015,381.92. This represents a 1.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Carlyle Group Stock Down 1.2%

Shares of CG opened at $47.13 on Friday. The firm’s 50-day simple moving average is $55.41 and its 200 day simple moving average is $57.88. The company has a debt-to-equity ratio of 1.90, a quick ratio of 2.33 and a current ratio of 2.33. The firm has a market cap of $17.02 billion, a P/E ratio of 21.62, a price-to-earnings-growth ratio of 0.90 and a beta of 2.07. Carlyle Group Inc. has a 52 week low of $33.02 and a 52 week high of $69.85.

Carlyle Group (NASDAQ:CG) last issued its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.03). Carlyle Group had a return on equity of 23.62% and a net margin of 16.92%.The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the business earned $0.92 earnings per share. The company’s revenue was up 84.1% on a year-over-year basis. On average, analysts forecast that Carlyle Group Inc. will post 4.48 earnings per share for the current year.

Carlyle Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Monday, February 16th were paid a $0.35 dividend. The ex-dividend date was Friday, February 13th. This represents a $1.40 annualized dividend and a yield of 3.0%. Carlyle Group’s payout ratio is 64.22%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CG. Wolfe Research reissued an “outperform” rating on shares of Carlyle Group in a report on Wednesday, January 7th. TD Cowen raised their price target on shares of Carlyle Group from $65.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Wall Street Zen raised shares of Carlyle Group from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Barclays decreased their target price on shares of Carlyle Group from $71.00 to $68.00 and set an “overweight” rating on the stock in a research report on Monday, March 2nd. Finally, JPMorgan Chase & Co. lifted 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. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Carlyle Group currently has a consensus rating of “Hold” and a consensus target price of $65.36.

Hedge Funds Weigh In On Carlyle Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allworth Financial LP raised its position in Carlyle Group by 150.3% during the second quarter. Allworth Financial LP now owns 498 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 299 shares in the last quarter. WFA of San Diego LLC bought a new position in shares of Carlyle Group in the second quarter worth about $26,000. Geneos Wealth Management Inc. grew its holdings in shares of Carlyle Group by 755.3% during 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 during the last quarter. Bernard Wealth Management Corp. acquired a new position in Carlyle Group during the 4th quarter worth approximately $30,000. Finally, Quarry LP acquired a new stake in Carlyle Group in the third quarter valued at approximately $33,000. 55.88% of the stock is currently owned by institutional investors and hedge funds.

About Carlyle Group

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.