Kovack Advisors Inc. Has $437,000 Position in The Carlyle Group Inc. (NASDAQ:CG)

Kovack Advisors Inc. reduced its holdings in shares of The Carlyle Group Inc. (NASDAQ:CG) by 14.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,313 shares of the financial services provider’s stock after selling 1,541 shares during the quarter. Kovack Advisors Inc.’s holdings in The Carlyle Group were worth $437,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CG. Norden Group LLC bought a new position in shares of The Carlyle Group during the 1st quarter worth approximately $724,000. Sumitomo Mitsui Trust Holdings Inc. grew its stake in The Carlyle Group by 1.0% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 503,525 shares of the financial services provider’s stock valued at $23,620,000 after purchasing an additional 4,766 shares during the period. State of Michigan Retirement System raised its stake in shares of The Carlyle Group by 2.5% during the 1st quarter. State of Michigan Retirement System now owns 53,200 shares of the financial services provider’s stock worth $2,496,000 after purchasing an additional 1,300 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of The Carlyle Group by 4.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,207 shares of the financial services provider’s stock worth $526,000 after buying an additional 507 shares during the last quarter. Finally, O ROURKE & COMPANY Inc increased its holdings in The Carlyle Group by 10.9% during the first quarter. O ROURKE & COMPANY Inc now owns 16,241 shares of the financial services provider’s stock worth $762,000 after buying an additional 1,599 shares during the last quarter. Institutional investors and hedge funds own 55.88% of the company’s stock.

The Carlyle Group Price Performance

NASDAQ:CG traded up $0.58 during midday trading on Thursday, hitting $40.59. The company had a trading volume of 567,599 shares, compared to its average volume of 2,279,874. The stock’s fifty day moving average price is $41.90 and its 200-day moving average price is $42.96. The Carlyle Group Inc. has a 52-week low of $27.13 and a 52-week high of $48.52. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 1.53. The company has a market capitalization of $14.61 billion, a PE ratio of -22.68, a P/E/G ratio of 1.13 and a beta of 1.75.

The Carlyle Group (NASDAQ:CG) last announced its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.09. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $986.10 million. The Carlyle Group had a positive return on equity of 23.92% and a negative net margin of 23.04%. The Carlyle Group’s revenue for the quarter was up 35.6% compared to the same quarter last year. During the same period last year, the firm posted $0.63 EPS. As a group, research analysts expect that The Carlyle Group Inc. will post 3.9 earnings per share for the current year.

The Carlyle Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 21st. Stockholders of record on Tuesday, May 14th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date was Monday, May 13th. The Carlyle Group’s dividend payout ratio (DPR) is presently -78.21%.

Insiders Place Their Bets

In other news, major shareholder Carlyle Group Inc. sold 127,981 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $36.19, for a total transaction of $4,631,632.39. Following the completion of the transaction, the insider now directly owns 12,123,705 shares of the company’s stock, valued at $438,756,883.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 645,335 shares of company stock valued at $22,646,564 in the last quarter. Insiders own 27.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CG. Keefe, Bruyette & Woods restated a “market perform” rating and set a $48.00 price target (down previously from $50.00) on shares of The Carlyle Group in a research note on Thursday, May 2nd. UBS Group upped their price target on The Carlyle Group from $46.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Oppenheimer lowered their price objective on The Carlyle Group from $74.00 to $68.00 and set an “outperform” rating on the stock in a research note on Thursday, May 2nd. The Goldman Sachs Group cut their target price on shares of The Carlyle Group from $54.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Finally, TD Cowen lowered their price target on shares of The Carlyle Group from $49.00 to $45.00 and set a “hold” rating on the stock in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, The Carlyle Group has an average rating of “Hold” and a consensus target price of $45.60.

The Carlyle Group Profile

The Carlyle Group Inc is an investment firm specializing in direct and fund of fund investments. Within direct investments, it specializes in management-led/ Leveraged buyouts, privatizations, divestitures, strategic minority equity investments, structured credit, global distressed and corporate opportunities, small and middle market, equity private placements, consolidations and buildups, senior debt, mezzanine and leveraged finance, and venture and growth capital financings, seed/startup, early venture, emerging growth, turnaround, mid venture, late venture, PIPES.