David Rubenstein Sells 500,000 Shares of Carlyle Group (NASDAQ:CG) Stock

Carlyle Group Inc. (NASDAQ:CG) Director David Rubenstein sold 500,000 shares of the company’s stock in a transaction on 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 sale, the director directly owned 27,399,644 shares in the company, valued at $1,279,015,381.92. This represents a 1.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Carlyle Group Stock Down 1.2%

Shares of CG traded down $0.60 during midday trading on Friday, hitting $47.13. The company had a trading volume of 3,641,004 shares, compared to its average volume of 3,249,722. The stock has a market cap of $17.02 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 0.92 and a beta of 2.07. The company’s 50 day moving average price is $55.78 and its 200 day moving average price is $58.05. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 1.90. Carlyle Group Inc. has a 52 week low of $33.02 and a 52 week high of $69.85.

Carlyle Group (NASDAQ:CG) last posted its quarterly 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 firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the business posted $0.92 earnings per share. The firm’s revenue for the quarter was up 84.1% on a year-over-year basis. On average, equities research analysts predict that Carlyle Group Inc. will post 4.48 EPS for the current year.

Carlyle Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Monday, February 16th were paid a dividend of $0.35 per share. The ex-dividend date was Friday, February 13th. This represents a $1.40 annualized dividend and a yield of 3.0%. Carlyle Group’s dividend payout ratio (DPR) is 64.22%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CG shares. UBS Group dropped their target price on shares of Carlyle Group from $81.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, February 20th. Barclays dropped their price objective on shares of Carlyle Group from $71.00 to $68.00 and set an “overweight” rating on the stock in a research note on Monday, March 2nd. TD Cowen lifted their target price on Carlyle Group from $65.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, February 27th. JPMorgan Chase & Co. increased their price target on Carlyle Group from $66.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. Finally, Wolfe Research reissued an “outperform” rating on shares of Carlyle Group in a report on Wednesday, January 7th. Eight 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 company currently has an average rating of “Hold” and an average target price of $65.36.

Institutional Trading of Carlyle Group

Large investors have recently added to or reduced their stakes in the business. Allworth Financial LP grew its stake in shares of Carlyle Group by 150.3% in the second quarter. Allworth Financial LP now owns 498 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 299 shares in the last quarter. Bernard Wealth Management Corp. acquired a new stake in Carlyle Group in the fourth quarter worth about $30,000. WFA of San Diego LLC acquired a new position in Carlyle Group during the 2nd quarter valued at about $26,000. Quarry LP bought a new stake in shares of Carlyle Group during the 3rd quarter worth about $33,000. Finally, Motco acquired a new stake in shares of Carlyle Group in the 3rd quarter worth approximately $40,000. 55.88% of the stock is currently owned by institutional investors and hedge funds.

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.