The Manufacturers Life Insurance Company Trims Stock Position in Carlyle Group Inc. $CG

The Manufacturers Life Insurance Company reduced its position in shares of Carlyle Group Inc. (NASDAQ:CG) by 4.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 483,102 shares of the financial services provider’s stock after selling 24,472 shares during the period. The Manufacturers Life Insurance Company’s holdings in Carlyle Group were worth $23,377,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Norges Bank purchased a new position in Carlyle Group in the 4th quarter worth approximately $288,257,000. State Street Corp lifted its holdings in shares of Carlyle Group by 20.9% during the 3rd quarter. State Street Corp now owns 9,942,135 shares of the financial services provider’s stock worth $623,372,000 after acquiring an additional 1,720,483 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in Carlyle Group in the third quarter worth $75,612,000. Vanguard Group Inc. increased its stake in Carlyle Group by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 26,368,246 shares of the financial services provider’s stock valued at $1,558,627,000 after acquiring an additional 934,237 shares during the last quarter. Finally, Algebris UK Ltd. purchased a new stake in Carlyle Group during the fourth quarter valued at about $50,459,000. Hedge funds and other institutional investors own 55.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Weiss Ratings upgraded Carlyle Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, July 6th. Barclays dropped their target price on Carlyle Group from $63.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. Cfra cut shares of Carlyle Group to a “sell” rating and set a $45.00 price target on the stock. in a research report on Friday, May 8th. Evercore set a $56.00 price objective on shares of Carlyle Group in a report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. reduced their target price 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. Seven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $60.07.

Carlyle Group Trading Up 1.5%

NASDAQ CG opened at $46.02 on Friday. The stock has a 50-day moving average of $44.41 and a 200-day moving average of $49.50. 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 Inc. has a 1-year low of $39.60 and a 1-year high of $69.85. The firm has a market cap of $16.57 billion, a PE ratio of 31.52, a price-to-earnings-growth ratio of 1.61 and a beta of 1.84.

Carlyle Group (NASDAQ:CG) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). The company had revenue of $750.90 million during the quarter, compared to analysts’ expectations of $1.01 billion. Carlyle Group had a return on equity of 20.95% and a net margin of 13.46%.Carlyle Group’s revenue for the quarter was down 28.0% on a year-over-year basis. During the same period last year, the firm earned $1.14 earnings per share. As a group, sell-side analysts forecast that Carlyle Group Inc. will post 3.71 EPS for the current year.

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.