Rakuten Investment Management Inc. Makes New $4.73 Million Investment in Carlyle Group Inc. $CG

Rakuten Investment Management Inc. purchased a new stake in Carlyle Group Inc. (NASDAQ:CG) in the third quarter, Holdings Channel.com reports. The fund purchased 75,508 shares of the financial services provider’s stock, valued at approximately $4,734,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CG. Norges Bank acquired a new stake in shares of Carlyle Group during the 2nd quarter valued at approximately $150,122,000. Alkeon Capital Management LLC grew its holdings in Carlyle Group by 13.4% in the second quarter. Alkeon Capital Management LLC now owns 5,941,316 shares of the financial services provider’s stock valued at $305,384,000 after purchasing an additional 700,000 shares during the last quarter. Azora Capital LP purchased a new position in shares of Carlyle Group in the second quarter valued at $30,791,000. Massachusetts Financial Services Co. MA raised its stake in shares of Carlyle Group by 6.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,618,075 shares of the financial services provider’s stock worth $477,653,000 after buying an additional 479,216 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Carlyle Group by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 24,719,581 shares of the financial services provider’s stock valued at $1,270,586,000 after acquiring an additional 426,644 shares during the last quarter. 55.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Carlyle Group news, Director David M. Rubenstein sold 625,000 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $56.55, for a total transaction of $35,343,750.00. Following the transaction, the director owned 27,999,644 shares of the company’s stock, valued at $1,583,379,868.20. This trade represents a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 26.30% of the company’s stock.

Carlyle Group Price Performance

CG stock opened at $62.35 on Friday. The stock has a market capitalization of $22.47 billion, a price-to-earnings ratio of 34.83, a price-to-earnings-growth ratio of 1.10 and a beta of 2.04. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 1.78. Carlyle Group Inc. has a 52-week low of $33.02 and a 52-week high of $69.85. The stock’s fifty day simple moving average is $58.96 and its 200-day simple moving average is $60.24.

Carlyle Group (NASDAQ:CG) last released its earnings results on Friday, November 7th. The financial services provider reported $0.98 earnings per share for the quarter, hitting the consensus estimate of $0.98. The firm had revenue of $782.50 million for the quarter, compared to the consensus estimate of $848.51 million. Carlyle Group had a return on equity of 23.46% and a net margin of 16.91%.During the same period in the prior year, the business posted $0.95 earnings per share. Equities research analysts expect that Carlyle Group Inc. will post 4.48 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CG. JPMorgan Chase & Co. reduced their price target on shares of Carlyle Group from $68.00 to $66.00 and set a “neutral” rating on the stock in a report on Monday, November 3rd. Barclays upped their target price on Carlyle Group from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. BMO Capital Markets started coverage on Carlyle Group in a research report on Friday, October 3rd. They set an “outperform” rating and a $74.00 price target for the company. Weiss Ratings restated a “hold (c)” rating on shares of Carlyle Group in a research report on Wednesday. Finally, Evercore ISI boosted their target price on shares of Carlyle Group from $57.00 to $62.00 and gave the company an “in-line” rating in a research note on Thursday. Seven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $67.46.

Carlyle Group Company Profile

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.