Prentice Wealth Management LLC Takes Position in The Carlyle Group Inc. (NASDAQ:CG)

Prentice Wealth Management LLC acquired a new stake in The Carlyle Group Inc. (NASDAQ:CG) in the first quarter, Holdings Channel reports. The institutional investor acquired 5,820 shares of the financial services provider’s stock, valued at approximately $254,000.

Several other hedge funds have also recently added to or reduced their stakes in CG. Asset Management One Co. Ltd. boosted its position in shares of The Carlyle Group by 6.0% during the fourth quarter. Asset Management One Co. Ltd. now owns 86,696 shares of the financial services provider’s stock worth $4,410,000 after purchasing an additional 4,936 shares in the last quarter. Bank Pictet & Cie Europe AG bought a new position in The Carlyle Group during the fourth quarter worth about $215,000. Rhumbline Advisers grew its stake in The Carlyle Group by 1.2% in the fourth quarter. Rhumbline Advisers now owns 605,842 shares of the financial services provider’s stock valued at $30,589,000 after acquiring an additional 7,218 shares during the period. Everhart Financial Group Inc. increased its holdings in shares of The Carlyle Group by 14.5% in the fourth quarter. Everhart Financial Group Inc. now owns 6,969 shares of the financial services provider’s stock worth $352,000 after acquiring an additional 881 shares in the last quarter. Finally, Principal Securities Inc. raised its position in shares of The Carlyle Group by 54.5% during the fourth quarter. Principal Securities Inc. now owns 1,403 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 495 shares during the period. Institutional investors and hedge funds own 55.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CG shares. Bank of America lowered their target price on The Carlyle Group from $47.00 to $46.00 and set an “underperform” rating for the company in a research note on Friday, April 4th. Barclays upped their price target on shares of The Carlyle Group from $43.00 to $49.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Oppenheimer cut shares of The Carlyle Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 19th. Wells Fargo & Company increased their target price on The Carlyle Group from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Friday, May 23rd. Finally, Cowen upgraded The Carlyle Group from a “hold” rating to a “buy” rating in a report on Wednesday, May 14th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, The Carlyle Group has an average rating of “Hold” and an average target price of $53.00.

The Carlyle Group Price Performance

Shares of NASDAQ CG opened at $46.19 on Friday. The Carlyle Group Inc. has a fifty-two week low of $33.02 and a fifty-two week high of $57.50. The stock has a market capitalization of $16.68 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 0.98 and a beta of 1.85. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.32 and a quick ratio of 2.32. The business has a 50-day moving average of $42.04 and a 200-day moving average of $47.01.

The Carlyle Group (NASDAQ:CG) last posted its quarterly earnings results on Friday, May 9th. The financial services provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.17. The Carlyle Group had a return on equity of 24.02% and a net margin of 18.81%. The firm had revenue of $973.10 million during the quarter, compared to the consensus estimate of $972.27 million. During the same period last year, the company earned $1.01 earnings per share. The business’s revenue was up 2.0% compared to the same quarter last year. As a group, sell-side analysts predict that The Carlyle Group Inc. will post 4.48 earnings per share for the current fiscal year.

The Carlyle Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Monday, May 19th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.03%. The ex-dividend date was Monday, May 19th. The Carlyle Group’s dividend payout ratio (DPR) is currently 47.46%.

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.