Comerica Bank Cuts Stock Position in Carlyle Group Inc. $CG

Comerica Bank lowered its position in Carlyle Group Inc. (NASDAQ:CG) by 53.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 85,861 shares of the financial services provider’s stock after selling 100,098 shares during the period. Comerica Bank’s holdings in Carlyle Group were worth $5,075,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. WFA of San Diego LLC purchased a new position in shares of Carlyle Group in the 2nd quarter worth approximately $26,000. Geneos Wealth Management Inc. grew its position in shares of Carlyle Group by 755.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 650 shares of the financial services provider’s stock worth $28,000 after buying an additional 574 shares during the last quarter. Bernard Wealth Management Corp. purchased a new position in shares of Carlyle Group in the 4th quarter worth approximately $30,000. Quarry LP purchased a new position in shares of Carlyle Group in the 3rd quarter worth approximately $33,000. Finally, Motco purchased a new position in shares of Carlyle Group in the 3rd quarter worth approximately $40,000. Hedge funds and other institutional investors own 55.88% of the company’s stock.

Carlyle Group Stock Down 1.3%

NASDAQ:CG opened at $49.44 on Friday. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 1.90. Carlyle Group Inc. has a twelve month low of $39.48 and a twelve month high of $69.85. The company’s 50 day moving average is $49.02 and its two-hundred day moving average is $54.78. The company has a market cap of $17.86 billion, a PE ratio of 22.68, a P/E/G ratio of 1.08 and a beta of 1.90.

Carlyle Group (NASDAQ:CG) last announced its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.01 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.03). Carlyle Group had a net margin of 16.92% and a return on equity of 23.62%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the firm posted $0.92 earnings per share. The business’s revenue was up 84.1% on a year-over-year basis. Analysts anticipate that Carlyle Group Inc. will post 4.41 EPS for the current year.

Carlyle Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Monday, February 16th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.8%. The ex-dividend date was Friday, February 13th. Carlyle Group’s payout ratio is presently 64.22%.

Insider Buying and Selling

In other Carlyle Group news, Director David M. Rubenstein sold 500,000 shares of Carlyle Group stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $46.68, for a total transaction of $23,340,000.00. Following the completion of the sale, the director directly owned 27,399,644 shares in the company, valued at approximately $1,279,015,381.92. The trade was a 1.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 26.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Wolfe Research reaffirmed an “outperform” rating on shares of Carlyle Group in a research report on Wednesday, January 7th. Barclays dropped their target price on shares of Carlyle Group from $68.00 to $67.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 8th. JPMorgan Chase & Co. dropped their target price on shares of Carlyle Group from $67.00 to $66.00 and set a “neutral” rating on the stock in a research report on Thursday. The Goldman Sachs Group dropped their target price on shares of Carlyle Group from $81.00 to $69.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Finally, Wall Street Zen raised shares of Carlyle Group from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Nine analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.57.

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.