Element Capital Management LLC Acquires Shares of 34,476 Carlyle Group Inc. $CG

Element Capital Management LLC bought a new stake in shares of Carlyle Group Inc. (NASDAQ:CG) in the fourth quarter, Holdings Channel reports. The firm bought 34,476 shares of the financial services provider’s stock, valued at approximately $2,038,000. Carlyle Group makes up 1.0% of Element Capital Management LLC’s investment portfolio, making the stock its 23rd largest holding.

Several other hedge funds and other institutional investors have also modified their holdings of the company. DMC Group LLC grew its stake in Carlyle Group by 2.5% in the fourth quarter. DMC Group LLC now owns 6,762 shares of the financial services provider’s stock valued at $400,000 after purchasing an additional 168 shares in the last quarter. Allworth Financial LP increased its holdings in Carlyle Group by 32.3% in the fourth quarter. Allworth Financial LP now owns 721 shares of the financial services provider’s stock worth $43,000 after buying an additional 176 shares during the last quarter. Kestra Advisory Services LLC raised its position in Carlyle Group by 1.2% during the fourth quarter. Kestra Advisory Services LLC now owns 15,637 shares of the financial services provider’s stock valued at $924,000 after acquiring an additional 184 shares in the last quarter. Larson Financial Group LLC grew its position in Carlyle Group by 6.0% in 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. Finally, Robertson Stephens Wealth Management LLC increased its stake in shares of Carlyle Group by 3.1% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 6,595 shares of the financial services provider’s stock worth $390,000 after purchasing an additional 199 shares during the last quarter. 55.88% of the stock is currently owned by hedge funds and other institutional investors.

Carlyle Group Stock Down 2.4%

Shares of CG opened at $45.69 on Thursday. The company has a debt-to-equity ratio of 1.92, a quick ratio of 2.55 and a current ratio of 2.55. The company has a 50-day simple moving average of $47.56 and a 200-day simple moving average of $52.89. Carlyle Group Inc. has a 52 week low of $41.54 and a 52 week high of $69.85. The firm has a market capitalization of $16.45 billion, a P/E ratio of 31.29, a P/E/G ratio of 1.60 and a beta of 1.84.

Carlyle Group (NASDAQ:CG) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.02). The firm had revenue of $750.90 million for the quarter, compared to the consensus estimate of $1.01 billion. Carlyle Group had a net margin of 13.46% and a return on equity of 20.95%. The company’s revenue was down 28.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.14 earnings per share. On average, equities research analysts expect that Carlyle Group Inc. will post 4.05 earnings per share for the current year.

Carlyle Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Monday, May 18th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Monday, May 18th. Carlyle Group’s dividend payout ratio (DPR) is 95.89%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CG. BMO Capital Markets reduced their price objective on shares of Carlyle Group from $65.00 to $58.00 and set an “outperform” rating for the company in a research note on Tuesday, March 24th. JPMorgan Chase & Co. reduced their price target on Carlyle Group from $66.00 to $63.00 and set a “neutral” rating for the company in a research report on Friday, May 8th. Evercore set a $56.00 price target on Carlyle Group in a research note on Tuesday, April 21st. Morgan Stanley cut their price objective on Carlyle Group from $71.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 21st. Finally, Weiss Ratings cut Carlyle Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Seven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $62.00.

About Carlyle Group

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.