Polar Asset Management Partners Inc. Makes New $3.58 Million Investment in Carlyle Group Inc. $CG

Polar Asset Management Partners Inc. bought a new stake in Carlyle Group Inc. (NASDAQ:CG) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 74,007 shares of the financial services provider’s stock, valued at approximately $3,581,000.

A number of other institutional investors and hedge funds have also modified their holdings of CG. Bernard Wealth Management Corp. purchased a new stake in Carlyle Group in the 4th quarter worth about $30,000. WFA of San Diego LLC purchased a new position in Carlyle Group during the 2nd quarter valued at about $26,000. Quarry LP acquired a new position in shares of Carlyle Group in the 3rd quarter valued at about $33,000. Main Street Group LTD purchased a new stake in shares of Carlyle Group in the first quarter worth approximately $27,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of Carlyle Group during the third quarter worth approximately $41,000. Hedge funds and other institutional investors own 55.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Evercore set a $56.00 price objective on shares of Carlyle Group in a research note on Tuesday, April 21st. Morgan Stanley set a $57.00 price target on shares of Carlyle Group in a report on Tuesday, July 21st. TD Cowen dropped their price target on shares of Carlyle Group from $53.00 to $50.00 and set a “hold” rating on the stock in a research note on Monday, May 18th. Citizens Jmp reduced their price objective on Carlyle Group from $75.00 to $70.00 and set a “market outperform” rating for the company in a research report on Thursday, July 9th. Finally, JPMorgan Chase & Co. lowered their target price on Carlyle Group from $66.00 to $63.00 and set a “neutral” rating on the stock in a research note on Friday, May 8th. Seven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $60.07.

Carlyle Group Stock Performance

CG stock opened at $45.40 on Monday. The firm has a 50 day moving average of $44.40 and a two-hundred day moving average of $50.06. Carlyle Group Inc. has a 12 month low of $39.60 and a 12 month high of $69.85. The company has a market capitalization of $16.34 billion, a price-to-earnings ratio of 31.10, a P/E/G ratio of 1.59 and a beta of 1.84. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 1.92.

Carlyle Group (NASDAQ:CG) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). Carlyle Group had a net margin of 13.46% and a return on equity of 20.95%. The business had revenue of $750.90 million for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the business posted $1.14 EPS. The firm’s revenue for the quarter was down 28.0% compared to the same quarter last year. As a group, equities analysts anticipate that Carlyle Group Inc. will post 3.71 EPS for the current fiscal year.

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.