Insider Selling: Carlyle Group (NASDAQ:CG) Director Sells 625,000 Shares of Stock

Carlyle Group Inc. (NASDAQ:CG) Director David Rubenstein sold 625,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $56.55, for a total transaction of $35,343,750.00. Following the completion of the sale, the director owned 27,999,644 shares of the company’s stock, valued at approximately $1,583,379,868.20. This trade represents a 2.18% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Carlyle Group Stock Down 3.0%

Shares of CG traded down $1.83 during mid-day trading on Friday, reaching $58.35. The company’s stock had a trading volume of 1,970,562 shares, compared to its average volume of 2,891,830. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 1.78. Carlyle Group Inc. has a 1 year low of $33.02 and a 1 year high of $69.85. The business has a fifty day moving average of $55.85 and a 200 day moving average of $57.32. The company has a market cap of $21.03 billion, a price-to-earnings ratio of 32.60, a price-to-earnings-growth ratio of 1.50 and a beta of 2.06.

Carlyle Group (NASDAQ:CG) last issued its earnings results on Friday, November 7th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.98. Carlyle Group had a net margin of 16.91% and a return on equity of 23.46%. The company had revenue of $782.50 million during the quarter, compared to analyst estimates of $848.51 million. During the same quarter last year, the business posted $0.95 EPS. As a group, analysts forecast that Carlyle Group Inc. will post 4.48 earnings per share for the current fiscal year.

Carlyle Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Monday, November 10th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.4%. The ex-dividend date was Monday, November 10th. Carlyle Group’s dividend payout ratio (DPR) is 78.21%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CG. UBS Group started coverage on Carlyle Group in a research note on Thursday. They issued a “buy” rating and a $74.00 price objective on the stock. JMP Securities lifted their price target on Carlyle Group from $70.00 to $75.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 14th. Barclays raised their price objective on shares of Carlyle Group from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday. BMO Capital Markets began coverage on shares of Carlyle Group in a research note on Friday, October 3rd. They set an “outperform” rating and a $74.00 target price for the company. Finally, TD Cowen decreased their price target on shares of Carlyle Group from $78.00 to $77.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. Eight investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $66.14.

Institutional Inflows and Outflows

Hedge funds and other institutional 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 2nd quarter. Allworth Financial LP now owns 498 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 299 shares during the period. WFA of San Diego LLC acquired a new stake in Carlyle Group in the 2nd quarter valued at $26,000. Quarry LP acquired a new position in Carlyle Group during the third quarter worth $33,000. Motco bought a new position in shares of Carlyle Group during the third quarter valued at $40,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of Carlyle Group in the 3rd quarter valued at $41,000. Institutional investors own 55.88% of the company’s stock.

Carlyle Group Company Profile

The Carlyle Group Inc is an investment firm specializing in direct and fund of fund investments. Within direct investments, it specializes in management-led/ Leveraged buyouts, privatizations, divestitures, strategic minority equity investments, structured credit, global distressed and corporate opportunities, small and middle market, equity private placements, consolidations and buildups, senior debt, mezzanine and leveraged finance, and venture and growth capital financings, seed/startup, early venture, emerging growth, turnaround, mid venture, late venture, PIPES.