Carlyle Group Inc. $CG Shares Sold by Hoertkorn Richard Charles

Hoertkorn Richard Charles lessened its stake in shares of Carlyle Group Inc. (NASDAQ:CG) by 82.1% during the first quarter, HoldingsChannel reports. The firm owned 3,500 shares of the financial services provider’s stock after selling 16,100 shares during the period. Hoertkorn Richard Charles’ holdings in Carlyle Group were worth $169,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CG. Bernard Wealth Management Corp. acquired a new position in Carlyle Group during the 4th quarter worth approximately $30,000. WFA of San Diego LLC acquired a new stake in Carlyle Group in the second quarter valued at approximately $26,000. Quarry LP acquired a new position in shares of Carlyle Group during the third quarter worth $33,000. Brown Brothers Harriman & Co. purchased a new position in shares of Carlyle Group in the third quarter valued at $41,000. Finally, Geneos Wealth Management Inc. grew its holdings 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 in the last quarter. 55.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. cut their price objective on shares of Carlyle Group from $66.00 to $63.00 and set a “neutral” rating on the stock in a report on Friday, May 8th. Barclays dropped their target price on Carlyle Group from $67.00 to $63.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Evercore set a $56.00 price target on Carlyle Group in a report on Tuesday, April 21st. Morgan Stanley dropped their price objective 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. Finally, Weiss Ratings raised Carlyle Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Seven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Carlyle Group currently has a consensus rating of “Hold” and a consensus price target of $62.00.

Carlyle Group Stock Performance

Shares of Carlyle Group stock opened at $43.07 on Thursday. The company has a debt-to-equity ratio of 1.92, a quick ratio of 2.55 and a current ratio of 2.55. Carlyle Group Inc. has a 1 year low of $39.60 and a 1 year high of $69.85. The firm’s 50-day simple moving average is $45.47 and its 200-day simple moving average is $51.39. The firm has a market cap of $15.50 billion, a PE ratio of 29.50, a price-to-earnings-growth ratio of 1.53 and a beta of 1.84.

Carlyle Group (NASDAQ:CG) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.89 EPS 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 firm had revenue of $750.90 million during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business posted $1.14 earnings per share. The firm’s revenue for the quarter was down 28.0% on a year-over-year basis. Equities analysts forecast that Carlyle Group Inc. will post 3.98 earnings per share for the current fiscal year.

Carlyle Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Monday, May 18th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Monday, May 18th. Carlyle Group’s payout ratio is 95.89%.

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.