Key Points
- Director David Rubenstein sold 625,000 shares of Carlyle Group (NASDAQ:CG) on Dec. 10 at an average price of $56.55 for proceeds of $35.34M, leaving him with 27,999,644 shares (a 2.18% reduction in his position).
- Company financials and market context: Carlyle reported EPS of $0.98 (in line) but revenue missed at $782.5M vs. $848.5M expected, pays a $0.35 quarterly dividend (annualized $1.40, 2.4% yield, DPR ~78%), has a ~$21.0B market cap and an analyst consensus of "Hold" with a $66.14 target.
Carlyle Group Inc. (NASDAQ:CG - Get Free Report) Director David Rubenstein sold 625,000 shares of the company's stock in a transaction on Wednesday, December 10th. The shares were 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 directly owned 27,999,644 shares in the company, valued at $1,583,379,868.20. This trade represents a 2.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Carlyle Group Price Performance
Carlyle Group stock opened at $58.35 on Friday. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 1.78. The firm's 50-day simple moving average is $55.75 and its 200 day simple moving average is $57.42. Carlyle Group Inc. has a 52 week low of $33.02 and a 52 week high of $69.85. The firm has a market capitalization of $21.03 billion, a PE ratio of 32.60, a P/E/G ratio of 1.49 and a beta of 2.06.
Carlyle Group (NASDAQ:CG - Get Free Report) last announced its earnings results on Friday, November 7th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.98. The company had revenue of $782.50 million during the quarter, compared to analysts' expectations of $848.51 million. Carlyle Group had a net margin of 16.91% and a return on equity of 23.46%. During the same quarter in the previous year, the business posted $0.95 earnings per share. On average, equities research analysts predict that Carlyle Group Inc. will post 4.48 EPS for the current fiscal year.
Carlyle Group Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Monday, November 10th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.40 annualized dividend and a yield of 2.4%. Carlyle Group's dividend payout ratio (DPR) is presently 78.21%.
Hedge Funds Weigh In On Carlyle Group
Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Carlyle Group by 2.9% during the third quarter. Vanguard Group Inc. now owns 25,434,009 shares of the financial services provider's stock worth $1,594,712,000 after purchasing an additional 714,428 shares during the period. State Street Corp grew its position in Carlyle Group by 20.9% during the third quarter. State Street Corp now owns 9,942,135 shares of the financial services provider's stock valued at $623,372,000 after acquiring an additional 1,720,483 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Carlyle Group by 6.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,618,075 shares of the financial services provider's stock worth $477,653,000 after purchasing an additional 479,216 shares during the period. Alkeon Capital Management LLC lifted its stake in shares of Carlyle Group by 13.4% in the 2nd quarter. Alkeon Capital Management LLC now owns 5,941,316 shares of the financial services provider's stock valued at $305,384,000 after purchasing an additional 700,000 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Carlyle Group by 5.6% during the 2nd quarter. Geode Capital Management LLC now owns 4,284,894 shares of the financial services provider's stock worth $219,583,000 after purchasing an additional 228,484 shares during the period. Institutional investors and hedge funds own 55.88% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts recently commented on the company. Wall Street Zen lowered Carlyle Group from a "hold" rating to a "sell" rating in a research note on Saturday, November 15th. Keefe, Bruyette & Woods reduced their target price on shares of Carlyle Group from $66.00 to $64.00 and set a "market perform" rating on the stock in a report on Monday, November 3rd. Citigroup cut their price objective on shares of Carlyle Group from $74.00 to $71.00 and set a "buy" rating for the company in a research report on Monday, November 3rd. Barclays raised their target price on shares of Carlyle Group from $65.00 to $68.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, TD Cowen cut their price target on Carlyle Group from $78.00 to $77.00 and set a "buy" rating for the company in a report on Monday, November 3rd. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Carlyle Group has an average rating of "Hold" and a consensus price target of $66.14.
View Our Latest Stock Analysis on CG
About Carlyle Group
(
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The Carlyle Group Inc is an investment firm specializing in direct and fund of fund investments. Within direct investments, it specializes in management-led/ Leveraged buyouts, privatizations, divestitures, strategic minority equity investments, structured credit, global distressed and corporate opportunities, small and middle market, equity private placements, consolidations and buildups, senior debt, mezzanine and leveraged finance, and venture and growth capital financings, seed/startup, early venture, emerging growth, turnaround, mid venture, late venture, PIPES.
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