Davis Asset Management L.P. Invests $47.63 Million in Carlyle Group Inc. $CG

Davis Asset Management L.P. purchased a new stake in Carlyle Group Inc. (NASDAQ:CG) during the second quarter, HoldingsChannel.com reports. The firm purchased 1,131,000 shares of the financial services provider’s stock, valued at approximately $47,626,000. Carlyle Group makes up about 1.2% of Davis Asset Management L.P.’s holdings, making the stock its 27th largest position.

Other institutional investors also recently made changes to their positions in the company. WFA of San Diego LLC acquired a new stake in Carlyle Group during the 2nd quarter worth approximately $26,000. Main Street Group LTD bought a new position in Carlyle Group during the 1st quarter worth $27,000. Geneos Wealth Management Inc. lifted its holdings in shares of Carlyle Group by 755.3% during the first quarter. Geneos Wealth Management Inc. now owns 650 shares of the financial services provider’s stock worth $28,000 after buying an additional 574 shares in the last quarter. Quarry LP bought a new stake in shares of Carlyle Group in the third quarter valued at about $33,000. Finally, Allworth Financial LP bought a new position in Carlyle Group during the second quarter worth about $35,000. Institutional investors own 55.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CG. Weiss Ratings raised shares of Carlyle Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. UBS Group lifted their price target on shares of Carlyle Group from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Citigroup reiterated an “outperform” rating on shares of Carlyle Group in a research note on Thursday, August 6th. TD Cowen restated a “hold” rating on shares of Carlyle Group in a research note on Thursday, August 6th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $52.00 price objective on shares of Carlyle Group in a report on Monday, July 13th. Seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $59.31.

Carlyle Group Price Performance

CG stock opened at $49.37 on Friday. The company’s 50-day moving average price is $45.72 and its two-hundred day moving average price is $48.04. The firm has a market cap of $17.59 billion, a P/E ratio of 51.43, a P/E/G ratio of 1.49 and a beta of 1.83. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 1.91. Carlyle Group Inc. has a 12 month low of $39.60 and a 12 month high of $69.85.

Carlyle Group (NASDAQ:CG) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.16. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $923.50 million. Carlyle Group had a net margin of 10.08% and a return on equity of 22.52%. The firm’s quarterly revenue was down 28.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.87 EPS. On average, analysts anticipate that Carlyle Group Inc. will post 3.69 earnings per share for the current fiscal year.

Carlyle Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Monday, August 17th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, August 17th. Carlyle Group’s dividend payout ratio (DPR) is currently 145.83%.

Carlyle Group Profile

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager that invests across a range of strategies including private equity, real assets (such as real estate and infrastructure), global credit, and investment solutions. Founded in 1987 and headquartered in Washington, DC, Carlyle raises and manages investment funds that acquire, operate and exit companies and assets on behalf of institutional and private investors. The firm is publicly traded on the Nasdaq exchange and operates as an asset manager and investment advisor rather than as an operating company.

Carlyle’s core activities include sourcing and executing private equity buyouts and growth investments, originating and managing credit and financing solutions, and acquiring and operating real asset portfolios.