Sit Investment Associates Inc. Increases Position in Carlyle Group Inc. $CG

Sit Investment Associates Inc. raised its holdings in shares of Carlyle Group Inc. (NASDAQ:CG) by 36.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 262,040 shares of the financial services provider’s stock after buying an additional 69,624 shares during the period. Sit Investment Associates Inc.’s holdings in Carlyle Group were worth $15,489,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CG. DMC Group LLC increased its stake in shares of Carlyle Group by 2.5% in the 4th quarter. DMC Group LLC now owns 6,762 shares of the financial services provider’s stock valued at $400,000 after acquiring an additional 168 shares during the last quarter. Allworth Financial LP increased its stake in shares of Carlyle Group by 32.3% in the 4th quarter. Allworth Financial LP now owns 721 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 176 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of Carlyle Group by 6.0% in the 3rd quarter. Larson Financial Group LLC now owns 3,483 shares of the financial services provider’s stock valued at $218,000 after acquiring an additional 196 shares during the last quarter. Robertson Stephens Wealth Management LLC increased its stake in shares of Carlyle Group by 3.1% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 6,595 shares of the financial services provider’s stock valued at $390,000 after acquiring an additional 199 shares during the last quarter. Finally, GW Henssler & Associates Ltd. increased its stake in shares of Carlyle Group by 6.3% in the 4th quarter. GW Henssler & Associates Ltd. now owns 3,673 shares of the financial services provider’s stock valued at $217,000 after acquiring an additional 217 shares during the last quarter. Hedge funds and other institutional investors own 55.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CG shares. Wall Street Zen cut Carlyle Group from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. The Goldman Sachs Group lowered their price target on Carlyle Group from $81.00 to $69.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. BMO Capital Markets lowered their target price on Carlyle Group from $65.00 to $58.00 and set an “outperform” rating for the company in a research note on Tuesday, March 24th. Cfra cut Carlyle Group to a “sell” rating and set a $45.00 target price for the company. in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. lowered their target price on Carlyle Group from $66.00 to $63.00 and set a “neutral” rating for the company in a research note on Friday, May 8th. Seven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $62.00.

Carlyle Group Trading Up 1.0%

NASDAQ:CG opened at $44.55 on Friday. Carlyle Group Inc. has a twelve month low of $41.54 and a twelve month high of $69.85. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 1.92. The business has a 50 day moving average price of $47.62 and a two-hundred day moving average price of $53.08. The company has a market cap of $16.04 billion, a P/E ratio of 30.51, a price-to-earnings-growth ratio of 1.51 and a beta of 1.84.

Carlyle Group (NASDAQ:CG) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). Carlyle Group had a return on equity of 20.95% and a net margin of 13.46%.The firm had revenue of $750.90 million for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the company earned $1.14 EPS. The company’s revenue was down 28.0% compared to the same quarter last year. As a group, analysts expect that Carlyle Group Inc. will post 4.05 EPS for the current fiscal year.

Carlyle Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Monday, May 18th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.40 dividend on an annualized basis and a yield of 3.1%. Carlyle Group’s dividend payout ratio is 95.89%.

Insiders Place Their Bets

In other Carlyle Group news, Director David M. Rubenstein sold 500,000 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $46.68, for a total transaction of $23,340,000.00. Following the completion of the transaction, the director owned 27,399,644 shares of the company’s stock, 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 through this link. 25.40% of the stock is currently owned by company insiders.

Carlyle Group 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.