QRG Capital Management Inc. Decreases Stake in Carlyle Group Inc. $CG

QRG Capital Management Inc. decreased its position in Carlyle Group Inc. (NASDAQ:CG) by 11.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,374 shares of the financial services provider’s stock after selling 2,455 shares during the period. QRG Capital Management Inc.’s holdings in Carlyle Group were worth $944,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CG. Wedmont Private Capital increased its stake in Carlyle Group by 28.3% in the 1st quarter. Wedmont Private Capital now owns 5,635 shares of the financial services provider’s stock valued at $246,000 after buying an additional 1,244 shares during the last quarter. Park Avenue Securities LLC increased its stake in Carlyle Group by 36.4% in the 1st quarter. Park Avenue Securities LLC now owns 11,303 shares of the financial services provider’s stock valued at $493,000 after buying an additional 3,015 shares during the last quarter. Daymark Wealth Partners LLC increased its stake in shares of Carlyle Group by 106.8% during the 1st quarter. Daymark Wealth Partners LLC now owns 10,014 shares of the financial services provider’s stock worth $437,000 after purchasing an additional 5,172 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Carlyle Group by 117.2% during the 1st quarter. Farther Finance Advisors LLC now owns 973 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 525 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Carlyle Group by 14.7% during the 1st quarter. GAMMA Investing LLC now owns 6,264 shares of the financial services provider’s stock worth $273,000 after purchasing an additional 801 shares during the last quarter. Hedge funds and other institutional investors own 55.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CG shares. Jefferies Financial Group raised their price target on shares of Carlyle Group from $54.00 to $66.00 and gave the stock a “hold” rating in a research note on Wednesday, August 13th. Barclays restated an “overweight” rating and set a $74.00 price target (up previously from $66.00) on shares of Carlyle Group in a research note on Thursday, August 7th. BMO Capital Markets assumed coverage on shares of Carlyle Group in a research note on Friday, October 3rd. They set an “outperform” rating and a $74.00 price target for the company. Evercore ISI lifted their price objective on shares of Carlyle Group from $45.00 to $58.00 and gave the company an “in-line” rating in a research note on Thursday, July 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Carlyle Group in a research note on Wednesday. Seven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Carlyle Group presently has an average rating of “Hold” and an average price target of $60.87.

Insider Activity

In other news, General Counsel Jeffrey W. Ferguson sold 202,606 shares of Carlyle Group stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $64.23, for a total transaction of $13,013,383.38. Following the completion of the sale, the general counsel directly owned 753,255 shares of the company’s stock, valued at approximately $48,381,568.65. The trade was a 21.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 26.30% of the company’s stock.

Carlyle Group Stock Performance

NASDAQ CG opened at $60.55 on Thursday. Carlyle Group Inc. has a 52-week low of $33.02 and a 52-week high of $69.85. The company has a debt-to-equity ratio of 1.52, a quick ratio of 2.24 and a current ratio of 2.24. The company has a market capitalization of $21.90 billion, a P/E ratio of 17.70, a P/E/G ratio of 1.28 and a beta of 2.00. The company has a fifty day moving average of $63.95 and a 200-day moving average of $52.64.

Carlyle Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Monday, August 18th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, August 18th. Carlyle Group’s payout ratio is currently 40.94%.

Carlyle Group 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.