Texas Permanent School Fund Corp Increases Stake in The Carlyle Group Inc. (NASDAQ:CG)

Texas Permanent School Fund Corp boosted its stake in shares of The Carlyle Group Inc. (NASDAQ:CG) by 1.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 189,459 shares of the financial services provider’s stock after acquiring an additional 2,478 shares during the quarter. Texas Permanent School Fund Corp’s holdings in The Carlyle Group were worth $8,888,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of The Carlyle Group by 7.6% in the fourth quarter. Vanguard Group Inc. now owns 24,876,188 shares of the financial services provider’s stock valued at $1,012,212,000 after buying an additional 1,756,189 shares in the last quarter. Norges Bank purchased a new stake in shares of The Carlyle Group during the fourth quarter worth approximately $130,771,000. Goldman Sachs Group Inc. increased its position in shares of The Carlyle Group by 194.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,593,761 shares of the financial services provider’s stock worth $105,540,000 after purchasing an additional 1,712,133 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of The Carlyle Group by 3.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,368,100 shares of the financial services provider’s stock worth $96,375,000 after purchasing an additional 84,080 shares in the last quarter. Finally, Argent Capital Management LLC increased its position in shares of The Carlyle Group by 3.4% during the first quarter. Argent Capital Management LLC now owns 2,084,751 shares of the financial services provider’s stock worth $97,796,000 after purchasing an additional 69,097 shares in the last quarter. 55.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on CG. TD Cowen dropped their price target on The Carlyle Group from $45.00 to $41.00 and set a “hold” rating for the company in a research report on Monday. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $48.00 price target (down from $50.00) on shares of The Carlyle Group in a research report on Thursday, May 2nd. Barclays lowered their price objective on The Carlyle Group from $56.00 to $47.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Jefferies Financial Group cut their price target on The Carlyle Group from $49.00 to $44.00 and set a “hold” rating on the stock in a report on Thursday, May 9th. Finally, Oppenheimer dropped their price objective on The Carlyle Group from $74.00 to $68.00 and set an “outperform” rating on the stock in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, The Carlyle Group has an average rating of “Hold” and an average price target of $44.93.

Insider Activity at The Carlyle Group

In other news, major shareholder Carlyle Group Inc. sold 127,981 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $36.19, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold 808,771 shares of company stock valued at $27,677,253 in the last ninety days. Corporate insiders own 27.20% of the company’s stock.

The Carlyle Group Stock Performance

The Carlyle Group stock traded up $1.10 during mid-day trading on Thursday, reaching $42.60. 1,803,879 shares of the company were exchanged, compared to its average volume of 2,216,939. The company has a debt-to-equity ratio of 1.53, a quick ratio of 2.53 and a current ratio of 2.53. The firm’s 50-day simple moving average is $41.53 and its two-hundred day simple moving average is $42.94. The firm has a market cap of $15.33 billion, a PE ratio of -23.80, a price-to-earnings-growth ratio of 1.14 and a beta of 1.75. The Carlyle Group Inc. has a twelve month low of $27.13 and a twelve month high of $48.52.

The Carlyle Group (NASDAQ:CG) last posted its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.92 by $0.09. The business had revenue of $1.02 billion during 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 company’s quarterly revenue was up 35.6% compared to the same quarter last year. During the same period last year, the firm earned $0.63 EPS. Equities analysts predict that The Carlyle Group Inc. will post 3.9 earnings per share for the current fiscal year.

The Carlyle Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 21st. Investors of record on Tuesday, May 14th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Monday, May 13th. The Carlyle Group’s payout ratio is currently -78.21%.

About The Carlyle Group

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.