Sound Income Strategies LLC Buys 23,200 Shares of Carlyle Group Inc. $CG

Sound Income Strategies LLC increased its stake in shares of Carlyle Group Inc. (NASDAQ:CG) by 25.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 115,092 shares of the financial services provider’s stock after acquiring an additional 23,200 shares during the quarter. Sound Income Strategies LLC’s holdings in Carlyle Group were worth $7,552,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Larson Financial Group LLC boosted its stake in Carlyle Group by 6.0% during the third quarter. Larson Financial Group LLC now owns 3,483 shares of the financial services provider’s stock worth $218,000 after acquiring an additional 196 shares in the last quarter. DMC Group LLC boosted its stake in Carlyle Group by 3.2% during the third quarter. DMC Group LLC now owns 6,594 shares of the financial services provider’s stock worth $413,000 after acquiring an additional 205 shares in the last quarter. Savant Capital LLC boosted its stake in Carlyle Group by 3.4% during the third quarter. Savant Capital LLC now owns 7,888 shares of the financial services provider’s stock worth $495,000 after acquiring an additional 263 shares in the last quarter. Stiles Financial Services Inc boosted its stake in Carlyle Group by 2.8% during the third quarter. Stiles Financial Services Inc now owns 12,516 shares of the financial services provider’s stock worth $785,000 after acquiring an additional 342 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Carlyle Group by 1.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 22,011 shares of the financial services provider’s stock worth $1,356,000 after acquiring an additional 373 shares in the last quarter. 55.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CG has been the topic of several research analyst reports. Barclays cut their target price on shares of Carlyle Group from $71.00 to $68.00 and set an “overweight” rating on the stock in a research note on Monday, March 2nd. BMO Capital Markets dropped their price objective on shares of Carlyle Group from $65.00 to $58.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 24th. Evercore raised their price objective on shares of Carlyle Group from $57.00 to $62.00 and gave the company an “in-line” rating in a research note on Thursday, January 22nd. Wall Street Zen raised shares of Carlyle Group from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Carlyle Group from $66.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. Eight research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Carlyle Group currently has a consensus rating of “Moderate Buy” and an average price target of $66.31.

Carlyle Group Stock Up 0.7%

Carlyle Group stock opened at $46.87 on Tuesday. The firm’s fifty day moving average price is $51.68 and its two-hundred day moving average price is $56.36. The firm has a market capitalization of $16.93 billion, a price-to-earnings ratio of 21.50, a price-to-earnings-growth ratio of 0.89 and a beta of 2.05. 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 Inc. has a 1-year low of $33.50 and a 1-year high of $69.85.

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

Carlyle Group Dividend Announcement

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

Insider Activity at Carlyle Group

In other news, Director David M. Rubenstein sold 500,000 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $46.68, for a total value of $23,340,000.00. Following the completion of the sale, the director owned 27,399,644 shares in the company, valued at $1,279,015,381.92. This represents a 1.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 26.30% of the stock is currently owned by corporate insiders.

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.