Legal & General Group Plc Acquires 176,777 Shares of Carlyle Group Inc. $CG

Legal & General Group Plc increased its holdings in Carlyle Group Inc. (NASDAQ:CG) by 5.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,260,377 shares of the financial services provider’s stock after purchasing an additional 176,777 shares during the period. Legal & General Group Plc’s holdings in Carlyle Group were worth $192,721,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CG. Bernard Wealth Management Corp. acquired a new position in Carlyle Group in the fourth quarter valued at $30,000. WFA of San Diego LLC acquired a new position in Carlyle Group in the second quarter valued at $26,000. Quarry LP acquired a new position in Carlyle Group in the third quarter valued at $33,000. Brown Brothers Harriman & Co. acquired a new position in Carlyle Group in the third quarter valued at $41,000. Finally, Geneos Wealth Management Inc. lifted its holdings in Carlyle Group by 755.3% in the first quarter. Geneos Wealth Management Inc. now owns 650 shares of the financial services provider’s stock valued at $28,000 after buying an additional 574 shares during the period. Institutional investors own 55.88% of the company’s stock.

Carlyle Group Price Performance

Shares of NASDAQ CG opened at $45.66 on Thursday. The firm’s 50-day moving average price is $48.28 and its 200-day moving average price is $53.72. Carlyle Group Inc. has a 1-year low of $43.98 and a 1-year high of $69.85. The firm has a market capitalization of $16.44 billion, a P/E ratio of 31.27, a P/E/G ratio of 1.56 and a beta of 1.89. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 1.92.

Carlyle Group (NASDAQ:CG) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.02). Carlyle Group had a net margin of 13.46% and a return on equity of 20.95%. The company had revenue of $750.90 million for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the company posted $1.14 EPS. Carlyle Group’s revenue for the quarter was down 28.0% on a year-over-year basis. Equities research analysts anticipate that Carlyle Group Inc. will post 4.05 earnings per share for the current fiscal year.

Carlyle Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 28th. Investors of record on Monday, May 18th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Monday, May 18th. Carlyle Group’s dividend payout ratio is currently 95.89%.

Insider Buying and Selling at Carlyle Group

In related news, Director David M. Rubenstein sold 500,000 shares of the company’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $46.68, for a total value of $23,340,000.00. Following the sale, the director owned 27,399,644 shares in the company, valued at $1,279,015,381.92. This represents a 1.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 26.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CG has been the topic of several recent analyst reports. Weiss Ratings lowered shares of Carlyle Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Barclays dropped their target price on shares of Carlyle Group from $67.00 to $63.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. 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. JPMorgan Chase & Co. dropped 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. Finally, Royal Bank Of Canada lowered shares of Carlyle Group from an “outperform” rating to a “sector perform” rating and set a $58.00 price objective on the stock. in a report on Monday, May 11th. Seven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $62.00.

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.