Synovus Financial Corp Sells 658 Shares of The Carlyle Group Inc. (NASDAQ:CG)

Synovus Financial Corp cut its holdings in The Carlyle Group Inc. (NASDAQ:CG) by 4.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,709 shares of the financial services provider’s stock after selling 658 shares during the period. Synovus Financial Corp’s holdings in The Carlyle Group were worth $633,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Westbourne Investment Advisors Inc. grew its holdings in The Carlyle Group by 3.6% during the third quarter. Westbourne Investment Advisors Inc. now owns 5,700 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 200 shares during the period. Bleakley Financial Group LLC grew its holdings in The Carlyle Group by 0.5% during the third quarter. Bleakley Financial Group LLC now owns 41,742 shares of the financial services provider’s stock valued at $1,797,000 after purchasing an additional 208 shares during the period. Tobam grew its holdings in The Carlyle Group by 32.8% during the third quarter. Tobam now owns 890 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 220 shares during the period. Western Pacific Wealth Management LP grew its holdings in The Carlyle Group by 10.6% during the third quarter. Western Pacific Wealth Management LP now owns 3,284 shares of the financial services provider’s stock valued at $141,000 after purchasing an additional 314 shares during the period. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in shares of The Carlyle Group by 0.5% in the second quarter. Mercer Global Advisors Inc. ADV now owns 61,684 shares of the financial services provider’s stock worth $2,484,000 after acquiring an additional 318 shares during the period. 55.88% of the stock is owned by institutional investors.

The Carlyle Group Trading Down 1.9 %

NASDAQ CG opened at $51.78 on Wednesday. The stock’s 50-day simple moving average is $51.43 and its two-hundred day simple moving average is $45.20. The Carlyle Group Inc. has a twelve month low of $36.65 and a twelve month high of $55.11. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $18.52 billion, a price-to-earnings ratio of 178.55, a PEG ratio of 1.45 and a beta of 1.69.

The Carlyle Group (NASDAQ:CG) last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. The business had revenue of $895.00 million for the quarter, compared to the consensus estimate of $908.17 million. The Carlyle Group had a return on equity of 24.91% and a net margin of 2.21%. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter last year, the business posted $0.87 earnings per share. Research analysts forecast that The Carlyle Group Inc. will post 3.77 EPS for the current fiscal year.

The Carlyle Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were issued a $0.35 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.40 annualized dividend and a dividend yield of 2.70%. The Carlyle Group’s dividend payout ratio is currently 482.76%.

Analysts Set New Price Targets

A number of research firms have recently commented on CG. Morgan Stanley raised their price target on The Carlyle Group from $46.00 to $50.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Redburn Atlantic began coverage on The Carlyle Group in a report on Tuesday, August 27th. They issued a “buy” rating and a $55.00 price target for the company. TD Cowen raised their price target on The Carlyle Group from $43.00 to $49.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Evercore ISI raised their price target on The Carlyle Group from $45.00 to $47.00 and gave the stock an “in-line” rating in a report on Monday, October 14th. Finally, Oppenheimer increased their price objective on The Carlyle Group from $78.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $54.00.

Insider Transactions at The Carlyle Group

In related news, major shareholder Carlyle Group Inc. sold 924,466 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $2.14, for a total value of $1,978,357.24. Following the sale, the insider now directly owns 3,643,231 shares of the company’s stock, valued at $7,796,514.34. This trade represents a 20.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel A. D’aniello sold 495,542 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $51.53, for a total value of $25,535,279.26. Following the completion of the sale, the director now directly owns 32,504,102 shares in the company, valued at $1,674,936,376.06. The trade was a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,171,556 shares of company stock worth $29,222,475. Company insiders own 27.20% of the company’s stock.

The Carlyle Group Company 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.