Carlyle Group (NASDAQ:CG) Director David Rubenstein Sells 500,000 Shares

Carlyle Group Inc. (NASDAQ:CG) Director David Rubenstein sold 500,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $46.68, for a total transaction of $23,340,000.00. Following the sale, the director directly owned 27,399,644 shares of the company’s stock, valued at $1,279,015,381.92. This trade represents a 1.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Carlyle Group Stock Performance

CG stock opened at $47.13 on Friday. The stock has a market capitalization of $17.02 billion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 0.92 and a beta of 2.07. The stock’s 50 day simple moving average is $55.41 and its 200 day simple moving average is $57.93. Carlyle Group Inc. has a 12-month low of $33.02 and a 12-month high of $69.85. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 1.90.

Carlyle Group (NASDAQ:CG) last posted its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.03). Carlyle Group had a return on equity of 23.62% and a net margin of 16.92%.The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the prior year, the firm earned $0.92 EPS. The firm’s revenue for the quarter was up 84.1% compared to the same quarter last year. As a group, research analysts forecast that Carlyle Group Inc. will post 4.48 earnings per share for the current fiscal year.

Carlyle Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Monday, February 16th were paid a $0.35 dividend. The ex-dividend date was Friday, February 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.0%. Carlyle Group’s payout ratio is currently 64.22%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Carlyle Group in a report on Wednesday, January 21st. BMO Capital Markets restated an “outperform” rating and issued a $65.00 price target on shares of Carlyle Group in a research note on Thursday, March 5th. JPMorgan Chase & Co. lifted their price objective on Carlyle Group from $66.00 to $67.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Morgan Stanley set a $71.00 target price on Carlyle Group in a report on Tuesday, January 27th. Finally, Wall Street Zen upgraded Carlyle Group from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Carlyle Group has an average rating of “Hold” and a consensus price target of $65.36.

Institutional Investors Weigh In On Carlyle Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CG. Generali Asset Management SPA SGR bought a new position in shares of Carlyle Group during the third quarter worth $1,913,000. Fifth Third Bancorp lifted its stake in Carlyle Group by 28.7% in the 3rd quarter. Fifth Third Bancorp now owns 107,198 shares of the financial services provider’s stock worth $6,721,000 after purchasing an additional 23,901 shares in the last quarter. New York State Common Retirement Fund grew its position in shares of Carlyle Group by 16.3% during the third quarter. New York State Common Retirement Fund now owns 207,395 shares of the financial services provider’s stock valued at $13,004,000 after purchasing an additional 29,000 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Carlyle Group by 2.9% in the third quarter. Vanguard Group Inc. now owns 25,434,009 shares of the financial services provider’s stock worth $1,594,712,000 after buying an additional 714,428 shares in the last quarter. Finally, Onyx Bridge Wealth Group LLC bought a new position in Carlyle Group during the third quarter valued at approximately $1,564,000. 55.88% of the stock is owned by hedge funds and other institutional investors.

Carlyle Group Company 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.