Key Points
- Director David Rubenstein sold 500,000 Carlyle shares on March 19 at an average price of $46.68 for $23.34 million, reducing his stake by 1.79% to 27,399,644 shares (worth ~ $1.279 billion).
- Carlyle's latest quarter produced $1.01 EPS (missing estimates of $1.04) while revenue surged to $1.90 billion, up 84.1% year-over-year.
- The company pays a $0.35 quarterly dividend (a 3.0% yield), has a market cap of $17.02 billion, and a consensus analyst rating of "Hold" with a $65.36 price target.
Carlyle Group Inc. (NASDAQ:CG - Get Free Report) Director David Rubenstein sold 500,000 shares of the stock in a transaction dated Thursday, March 19th. The shares were 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 directly owned 27,399,644 shares of the company's stock, valued at approximately $1,279,015,381.92. The trade was a 1.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Carlyle Group Trading Down 1.2%
Shares of NASDAQ CG opened at $47.13 on Friday. The stock has a market capitalization of $17.02 billion, a P/E ratio of 21.62, a PEG ratio of 0.92 and a beta of 2.07. Carlyle Group Inc. has a 1-year low of $33.02 and a 1-year high of $69.85. The business's 50 day moving average is $55.41 and its two-hundred day moving average is $57.93. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.33 and a quick ratio of 2.33.
Carlyle Group (NASDAQ:CG - Get Free Report) last announced its earnings results on Thursday, February 5th. The financial services provider reported $1.01 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1.09 billion. During the same quarter last year, the firm posted $0.92 EPS. Carlyle Group's revenue for the quarter was up 84.1% compared to the same quarter last year. As a group, research analysts expect that Carlyle Group Inc. will post 4.48 EPS for the current year.
Carlyle Group Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Monday, February 16th were paid a $0.35 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.40 annualized dividend and a dividend yield of 3.0%. Carlyle Group's dividend payout ratio is currently 64.22%.
Analysts Set New Price Targets
CG has been the topic of several analyst reports. Barclays cut their price target on shares of Carlyle Group from $71.00 to $68.00 and set an "overweight" rating on the stock in a report on Monday, March 2nd. BMO Capital Markets reissued an "outperform" rating and issued a $65.00 price objective on shares of Carlyle Group in a research report on Thursday, March 5th. JPMorgan Chase & Co. raised their target price on shares of Carlyle Group from $66.00 to $67.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 10th. Evercore boosted their price target on Carlyle Group from $57.00 to $62.00 and gave the company an "in-line" rating in a report on Thursday, January 22nd. Finally, Wall Street Zen upgraded Carlyle Group from a "sell" rating to a "hold" rating in a report on Saturday, March 7th. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $65.36.
View Our Latest Analysis on CG
Institutional Investors Weigh In On Carlyle Group
Institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP grew its holdings in shares of 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 buying an additional 299 shares during the last quarter. WFA of San Diego LLC acquired a new stake in Carlyle Group during the 2nd quarter worth about $26,000. Geneos Wealth Management Inc. grew its stake in 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 shares of Carlyle Group in the fourth quarter valued at about $30,000. Finally, Quarry LP purchased a new position in shares of Carlyle Group in the third quarter worth about $33,000. 55.88% of the stock is currently owned by institutional investors and hedge funds.
About Carlyle Group
(
Get Free Report)
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.
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