Key Points
- Director David Rubenstein sold 400,000 Carlyle Group shares at an average price of $42.74, generating $17.1 million. He retains approximately 26.9 million shares, worth about $1.15 billion.
- Carlyle exceeded quarterly EPS expectations, reporting $1.07 versus the $0.91 consensus, while revenue reached $1.11 billion but declined 28.6% year over year. The company also pays a quarterly dividend of $0.35, equivalent to a 3.3% annualized yield.
- Analysts have a consensus “Hold” rating and an average price target of $59.31, while institutional investors own 55.88% of the stock.
Carlyle Group Inc. (NASDAQ:CG - Get Free Report) Director David Rubenstein sold 400,000 shares of the firm's stock in a transaction on Friday, September 11th. The stock was sold at an average price of $42.74, for a total transaction of $17,096,000.00. Following the transaction, the director directly owned 26,899,644 shares of the company's stock, valued at approximately $1,149,690,784.56. This trade represents a 1.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Carlyle Group Price Performance
NASDAQ:CG opened at $42.34 on Friday. The firm's fifty day moving average is $46.80 and its two-hundred day moving average is $47.09. The firm has a market cap of $15.09 billion, a price-to-earnings ratio of 44.10, a PEG ratio of 1.33 and a beta of 1.84. The company has a debt-to-equity ratio of 1.91, a quick ratio of 2.35 and a current ratio of 2.35. Carlyle Group Inc. has a one year low of $39.60 and a one year high of $69.85.
Carlyle Group (NASDAQ:CG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.16. Carlyle Group had a return on equity of 22.52% and a net margin of 10.08%.The business had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $923.50 million. During the same quarter in the previous year, the firm posted $0.87 EPS. The company's revenue for the quarter was down 28.6% on a year-over-year basis. Research analysts expect that Carlyle Group Inc. will post 3.65 EPS for the current year.
Carlyle Group Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Monday, August 17th were issued a $0.35 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.40 dividend on an annualized basis and a yield of 3.3%. Carlyle Group's payout ratio is presently 145.83%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Carlyle Group from $47.00 to $50.00 and gave the company a "market perform" rating in a report on Thursday, August 6th. Evercore set a $51.00 price target on shares of Carlyle Group in a research report on Thursday, August 6th. Citigroup reaffirmed an "outperform" rating on shares of Carlyle Group in a report on Thursday, August 6th. Wall Street Zen raised shares of Carlyle Group from a "sell" rating to a "hold" rating in a research note on Saturday, August 29th. Finally, Morgan Stanley set a $57.00 target price on Carlyle Group in a research report on Tuesday, July 21st. Seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $59.31.
Check Out Our Latest Analysis on Carlyle Group
Hedge Funds Weigh In On Carlyle Group
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in Carlyle Group in the 2nd quarter worth about $1,346,848,000. California State Teachers Retirement System lifted its position in shares of Carlyle Group by 3,902.5% in the second quarter. California State Teachers Retirement System now owns 12,772,595 shares of the financial services provider's stock valued at $537,854,000 after acquiring an additional 12,453,476 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Carlyle Group in the second quarter worth approximately $249,077,000. Norges Bank purchased a new stake in shares of Carlyle Group during the fourth quarter worth approximately $288,257,000. Finally, Legal & General Group Plc acquired a new position in Carlyle Group in the 2nd quarter valued at $162,984,000. 55.88% of the stock is owned by hedge funds and other institutional investors.
About Carlyle Group
(
Get Free Report)
The Carlyle Group Inc (NASDAQ:CG) is a global investment firm that manages alternative assets for institutional investors, private wealth clients and other investors. The company invests across private equity, global credit and investment solutions, with strategies spanning corporate, real estate and infrastructure investments.
Carlyle's investment activities include acquiring and supporting companies through its corporate private equity platform, providing loans and other financing through its credit business, and managing portfolios of private market investments through its investment solutions platform.
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