First Republic Investment Management Inc. Sells 1,216,333 Shares of The Carlyle Group Inc. (NASDAQ:CG)

First Republic Investment Management Inc. lessened its holdings in The Carlyle Group Inc. (NASDAQ:CGGet Rating) by 65.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 641,179 shares of the financial services provider’s stock after selling 1,216,333 shares during the period. First Republic Investment Management Inc.’s holdings in The Carlyle Group were worth $16,568,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. CWM LLC boosted its position in shares of The Carlyle Group by 21.0% during the second quarter. CWM LLC now owns 1,722 shares of the financial services provider’s stock valued at $55,000 after buying an additional 299 shares during the last quarter. Mirador Capital Partners LP lifted its stake in The Carlyle Group by 2.5% during the 2nd quarter. Mirador Capital Partners LP now owns 12,627 shares of the financial services provider’s stock valued at $400,000 after acquiring an additional 307 shares in the last quarter. Carson Advisory Inc. boosted its holdings in The Carlyle Group by 2.3% during the 2nd quarter. Carson Advisory Inc. now owns 15,550 shares of the financial services provider’s stock worth $492,000 after acquiring an additional 350 shares during the last quarter. Tranquility Partners LLC raised its holdings in shares of The Carlyle Group by 2.9% in the second quarter. Tranquility Partners LLC now owns 14,149 shares of the financial services provider’s stock valued at $448,000 after purchasing an additional 400 shares during the last quarter. Finally, OneAscent Financial Services LLC lifted its position in shares of The Carlyle Group by 2.6% during the third quarter. OneAscent Financial Services LLC now owns 16,735 shares of the financial services provider’s stock valued at $432,000 after purchasing an additional 417 shares in the last quarter. Institutional investors and hedge funds own 52.69% of the company’s stock.

The Carlyle Group Stock Performance

Shares of CG stock opened at $34.44 on Wednesday. The firm has a market capitalization of $12.52 billion, a price-to-earnings ratio of 7.21 and a beta of 1.68. The stock has a fifty day moving average of $30.68 and a 200 day moving average of $30.91. The Carlyle Group Inc. has a 52 week low of $24.59 and a 52 week high of $54.06. The company has a quick ratio of 2.59, a current ratio of 2.60 and a debt-to-equity ratio of 1.16.

The Carlyle Group (NASDAQ:CGGet Rating) last announced its earnings results on Tuesday, November 8th. The financial services provider reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.38. The Carlyle Group had a net margin of 30.52% and a return on equity of 36.19%. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.08 billion. As a group, research analysts expect that The Carlyle Group Inc. will post 4.27 earnings per share for the current year.

The Carlyle Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 25th. Investors of record on Friday, November 18th were given a dividend of $0.325 per share. The ex-dividend date of this dividend was Thursday, November 17th. This represents a $1.30 annualized dividend and a dividend yield of 3.77%. The Carlyle Group’s dividend payout ratio is presently 27.20%.

Analyst Upgrades and Downgrades

CG has been the subject of several analyst reports. The Goldman Sachs Group decreased their price objective on shares of The Carlyle Group from $42.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, November 9th. Oppenheimer lifted their target price on shares of The Carlyle Group to $60.00 in a research note on Wednesday, December 14th. Piper Sandler decreased their price objective on The Carlyle Group from $68.00 to $62.00 in a research note on Tuesday, October 11th. StockNews.com downgraded shares of The Carlyle Group from a “hold” rating to a “sell” rating in a report on Wednesday, November 23rd. Finally, JMP Securities decreased their target price on shares of The Carlyle Group from $58.00 to $54.00 and set a “market outperform” rating on the stock in a report on Wednesday, November 9th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $40.27.

The Carlyle Group Profile

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The Carlyle Group, Inc engages in multi-product global alternative asset management. It operates through the following segments: Corporate Private Equity, Real Assets, Global Credit, and Investment Solutions. The Corporate Private Equity segment focuses on buyout, and growth capital funds, which pursue a variety of corporate investments of different sizes and growth potentials.

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Institutional Ownership by Quarter for The Carlyle Group (NASDAQ:CG)

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