Illinois Municipal Retirement Fund Sells 33,594 Shares of Carlyle Group Inc. $CG

Illinois Municipal Retirement Fund lessened its position in shares of Carlyle Group Inc. (NASDAQ:CG) by 49.2% in the first quarter, HoldingsChannel reports. The fund owned 34,701 shares of the financial services provider’s stock after selling 33,594 shares during the period. Illinois Municipal Retirement Fund’s holdings in Carlyle Group were worth $1,679,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently made changes to their positions in CG. AQR Capital Management LLC increased its position in Carlyle Group by 937.5% during the 1st quarter. AQR Capital Management LLC now owns 57,335 shares of the financial services provider’s stock worth $2,499,000 after buying an additional 51,809 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Carlyle Group by 40.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,144,974 shares of the financial services provider’s stock valued at $49,909,000 after acquiring an additional 332,533 shares during the period. Empowered Funds LLC grew its stake in shares of Carlyle Group by 3.4% in the first quarter. Empowered Funds LLC now owns 48,237 shares of the financial services provider’s stock valued at $2,103,000 after acquiring an additional 1,579 shares in the last quarter. Focus Partners Wealth increased its position in Carlyle Group by 27.4% during the first quarter. Focus Partners Wealth now owns 5,434 shares of the financial services provider’s stock worth $237,000 after acquiring an additional 1,169 shares during the period. Finally, Geneos Wealth Management Inc. raised its stake in Carlyle Group by 755.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 650 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 574 shares in the last quarter. Institutional investors own 55.88% of the company’s stock.

Carlyle Group Price Performance

Shares of NASDAQ:CG opened at $44.61 on Wednesday. The firm has a 50 day moving average of $44.66 and a 200-day moving average of $50.41. Carlyle Group Inc. has a 12 month low of $39.60 and a 12 month high of $69.85. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 1.92. The stock has a market capitalization of $16.06 billion, a PE ratio of 30.55, a PEG ratio of 1.54 and a beta of 1.84.

Carlyle Group (NASDAQ:CG) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). Carlyle Group had a net margin of 13.46% and a return on equity of 20.95%. The firm had revenue of $750.90 million during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the business earned $1.14 earnings per share. The business’s revenue was down 28.0% compared to the same quarter last year. On average, equities research analysts predict that Carlyle Group Inc. will post 3.78 EPS for the current fiscal year.

Carlyle Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Monday, May 18th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.1%. Carlyle Group’s payout ratio is 95.89%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CG. BMO Capital Markets restated an “outperform” rating and set a $52.00 target price on shares of Carlyle Group in a research report on Monday, July 13th. Wall Street Zen cut Carlyle Group from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Evercore set a $56.00 price target on Carlyle Group in a research report on Tuesday, April 21st. Barclays dropped their price objective on Carlyle Group from $63.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, July 9th. Finally, TD Cowen reduced their target price on Carlyle Group from $53.00 to $50.00 and set a “hold” rating on the stock in a report on Monday, May 18th. Seven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $60.07.

About Carlyle Group

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.