Bank of Nova Scotia Boosts Stake in Carlyle Group Inc. $CG

Bank of Nova Scotia raised its holdings in Carlyle Group Inc. (NASDAQ:CG) by 527.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 106,689 shares of the financial services provider’s stock after acquiring an additional 89,689 shares during the quarter. Bank of Nova Scotia’s holdings in Carlyle Group were worth $5,164,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in CG. DMC Group LLC increased its position in shares of Carlyle Group by 2.5% in the fourth quarter. DMC Group LLC now owns 6,762 shares of the financial services provider’s stock valued at $400,000 after buying an additional 168 shares in the last quarter. Allworth Financial LP grew its stake in Carlyle Group by 32.3% in the 4th quarter. Allworth Financial LP now owns 721 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 176 shares during the last quarter. Kestra Advisory Services LLC raised its position in Carlyle Group by 1.2% during the fourth quarter. Kestra Advisory Services LLC now owns 15,637 shares of the financial services provider’s stock worth $924,000 after acquiring an additional 184 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Carlyle Group by 6.0% in the third quarter. Larson Financial Group LLC now owns 3,483 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 196 shares in the last quarter. Finally, Robertson Stephens Wealth Management LLC grew its position in shares of Carlyle Group by 3.1% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 6,595 shares of the financial services provider’s stock valued at $390,000 after purchasing an additional 199 shares during the last quarter. Hedge funds and other institutional investors own 55.88% of the company’s stock.

Carlyle Group Stock Performance

NASDAQ CG opened at $46.28 on Tuesday. The company has a 50 day moving average of $44.39 and a 200-day moving average of $49.92. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 1.92. Carlyle Group Inc. has a 1-year low of $39.60 and a 1-year high of $69.85. The firm has a market cap of $16.66 billion, a price-to-earnings ratio of 31.70, a PEG ratio of 1.59 and a beta of 1.84.

Carlyle Group (NASDAQ:CG) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.02). Carlyle Group had a net margin of 13.46% and a return on equity of 20.95%. The business had revenue of $750.90 million during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the business posted $1.14 EPS. The firm’s revenue for the quarter was down 28.0% compared to the same quarter last year. On average, equities analysts forecast that Carlyle Group Inc. will post 3.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

CG has been the subject of several recent research reports. Cfra downgraded Carlyle Group to a “sell” rating and set a $45.00 price target for the company. in a research report on Friday, May 8th. The Goldman Sachs Group decreased their price objective on Carlyle Group from $81.00 to $69.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Barclays cut their target price on shares of Carlyle Group from $63.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. Wall Street Zen cut shares of Carlyle Group from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Citizens Jmp decreased their price objective on Carlyle Group from $75.00 to $70.00 and set a “market outperform” rating for the company in a research report on Thursday, July 9th. 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $60.07.

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.