Carlyle Group (NASDAQ:CG) Director Sells 400,000 Shares of Stock

Carlyle Group Inc. (NASDAQ:CG) Director David Rubenstein sold 400,000 shares of the firm’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $42.74, for a total transaction of $17,096,000.00. Following the completion of the transaction, the director directly owned 26,899,644 shares in the company, valued at $1,149,690,784.56. This represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Carlyle Group Price Performance

NASDAQ:CG traded down $0.73 during trading hours on Friday, hitting $42.34. 4,251,744 shares of the stock were exchanged, compared to its average volume of 3,398,990. The firm’s fifty day moving average price is $46.81 and its 200 day moving average price is $47.13. Carlyle Group Inc. has a 52-week low of $39.60 and a 52-week high of $69.85. The company has a market cap of $15.09 billion, a P/E ratio of 44.10, a P/E/G ratio of 1.36 and a beta of 1.84. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 1.91.

Carlyle Group (NASDAQ:CG) last released its earnings results on Tuesday, August 4th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.16. Carlyle Group had a return on equity of 22.52% and a net margin of 10.08%.The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $923.50 million. During the same quarter last year, the business posted $0.87 earnings per share. The business’s quarterly revenue was down 28.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Carlyle Group Inc. will post 3.65 EPS for the current fiscal year.

Carlyle Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Monday, August 17th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Monday, August 17th. Carlyle Group’s payout ratio is 145.83%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CG shares. TD Cowen restated a “hold” rating on shares of Carlyle Group in a research report on Thursday, August 6th. Citigroup reissued an “outperform” rating on shares of Carlyle Group in a research note on Thursday, August 6th. Citizens Jmp boosted their target price on Carlyle Group from $70.00 to $73.00 and gave the stock a “market outperform” rating in a report on Thursday, August 6th. Barclays increased their price target on Carlyle Group from $57.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Finally, Royal Bank Of Canada reduced their price objective on Carlyle Group from $58.00 to $56.00 and set a “sector perform” rating on the stock in a research report on Monday, July 13th. Seven analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $59.31.

Institutional Investors Weigh In On Carlyle Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Carlyle Group in the 2nd quarter valued at approximately $1,346,848,000. California State Teachers Retirement System raised its stake in shares of Carlyle Group by 3,902.5% in the second quarter. California State Teachers Retirement System now owns 12,772,595 shares of the financial services provider’s stock valued at $537,854,000 after acquiring an additional 12,453,476 shares in the last quarter. Morgan Stanley boosted its holdings in Carlyle Group by 0.8% in the fourth quarter. Morgan Stanley now owns 10,189,948 shares of the financial services provider’s stock valued at $602,328,000 after purchasing an additional 84,228 shares during the period. State Street Corp grew its stake in 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 purchasing an additional 1,720,483 shares in the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in Carlyle Group during the 2nd quarter worth about $249,077,000. 55.88% of the stock is currently owned by institutional investors and hedge funds.

About Carlyle Group

The Carlyle Group Inc (NASDAQ:CG) is a global investment firm that manages alternative assets for institutional investors, private wealth clients and other investors. The company invests across private equity, global credit and investment solutions, with strategies spanning corporate, real estate and infrastructure investments.

Carlyle’s investment activities include acquiring and supporting companies through its corporate private equity platform, providing loans and other financing through its credit business, and managing portfolios of private market investments through its investment solutions platform.