4,876,621 Shares in Carlyle Group Inc. $CG Purchased by Norges Bank

Norges Bank bought a new position in shares of Carlyle Group Inc. (NASDAQ:CG) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 4,876,621 shares of the financial services provider’s stock, valued at approximately $288,257,000.

Other hedge funds have also recently bought and sold shares of the company. WFA of San Diego LLC acquired a new position in Carlyle Group during the 2nd quarter worth about $26,000. Geneos Wealth Management Inc. lifted 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 worth $28,000 after acquiring an additional 574 shares in the last quarter. Bernard Wealth Management Corp. purchased a new stake in Carlyle Group during the 4th quarter worth about $30,000. Quarry LP purchased a new stake in Carlyle Group during the 3rd quarter worth about $33,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in Carlyle Group during the 3rd quarter worth about $41,000. Institutional investors and hedge funds own 55.88% of the company’s stock.

Carlyle Group Stock Down 1.4%

Shares of NASDAQ CG opened at $44.49 on Wednesday. Carlyle Group Inc. has a 52-week low of $44.23 and a 52-week high of $69.85. The business has a 50-day moving average price of $48.12 and a 200 day moving average price of $53.56. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 1.92. The stock has a market cap of $16.02 billion, a PE ratio of 30.47, a price-to-earnings-growth ratio of 1.54 and a beta of 1.84.

Carlyle Group (NASDAQ:CG) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). Carlyle Group had a return on equity of 20.95% and a net margin of 13.46%.The company had revenue of $750.90 million for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the business posted $1.14 earnings per share. The firm’s revenue was down 28.0% compared to the same quarter last year. Equities research analysts forecast that Carlyle Group Inc. will post 4.05 earnings per share for the current year.

Carlyle Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Monday, May 18th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Monday, May 18th. Carlyle Group’s dividend payout ratio (DPR) is presently 95.89%.

Analyst Upgrades and Downgrades

CG has been the topic of several recent research reports. Morgan Stanley cut their price target on Carlyle Group from $71.00 to $66.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 21st. Evercore set a $56.00 price target on Carlyle Group in a report on Tuesday, April 21st. JPMorgan Chase & Co. dropped their price objective on Carlyle Group from $66.00 to $63.00 and set a “neutral” rating on the stock in a report on Friday, May 8th. TD Cowen dropped their price objective on Carlyle Group from $53.00 to $50.00 and set a “hold” rating on the stock in a report on Monday, May 18th. Finally, Cfra downgraded Carlyle Group to a “sell” rating and set a $45.00 price objective on the stock. in a report on Friday, May 8th. Seven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Carlyle Group has a consensus rating of “Hold” and a consensus target price of $62.00.

Insiders Place Their Bets

In other Carlyle Group news, Director David M. Rubenstein sold 500,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the director directly owned 27,399,644 shares of the company’s stock, valued at approximately $1,279,015,381.92. This trade represents a 1.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 25.40% of the company’s stock.

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.