Insider Selling: The Carlyle Group Inc. (NASDAQ:CG) Major Shareholder Sells $2,344,852.23 in Stock

The Carlyle Group Inc. (NASDAQ:CG) major shareholder Carlyle Group Inc. sold 67,207 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $34.89, for a total value of $2,344,852.23. Following the completion of the transaction, the insider now directly owns 11,908,315 shares of the company’s stock, valued at $415,481,110.35. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Carlyle Group Inc. also recently made the following trade(s):

• On Monday, June 24th, Carlyle Group Inc. sold 73,713 shares of The Carlyle Group stock. The stock was sold at an average price of $34.34, for a total value of $2,531,304.42.
• On Monday, June 17th, Carlyle Group Inc. sold 99,642 shares of The Carlyle Group stock. The stock was sold at an average price of $35.99, for a total value of $3,586,115.58.
• On Friday, June 14th, Carlyle Group Inc. sold 127,981 shares of The Carlyle Group stock. The stock was sold at an average price of $36.19, for a total value of $4,631,632.39.
• On Wednesday, June 12th, Carlyle Group Inc. sold 64,263 shares of The Carlyle Group stock. The stock was sold at an average price of $40.23, for a total value of $2,585,300.49.

The Carlyle Group Stock Performance

Shares of CG stock opened at $39.60 on Thursday. The stock has a market cap of $14.25 billion, a PE ratio of -22.12, a price-to-earnings-growth ratio of 1.12 and a beta of 1.77. The business has a 50-day simple moving average of $42.40 and a 200-day simple moving average of $42.93. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 1.53. The Carlyle Group Inc. has a 52-week low of $27.13 and a 52-week high of $48.52.

The Carlyle Group (NASDAQ:CG) last issued its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.09. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $986.10 million. The Carlyle Group had a positive return on equity of 23.92% and a negative net margin of 23.04%. The company’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 EPS. On average, equities analysts expect that The Carlyle Group Inc. will post 3.9 EPS for the current year.

The Carlyle Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 21st. Investors of record on Tuesday, May 14th were issued a $0.35 dividend. The ex-dividend date was Monday, May 13th. This represents a $1.40 dividend on an annualized basis and a yield of 3.54%. The Carlyle Group’s payout ratio is -78.21%.

Hedge Funds Weigh In On The Carlyle Group

A number of large investors have recently bought and sold shares of CG. HighTower Advisors LLC raised its holdings in The Carlyle Group by 13.8% in the 3rd quarter. HighTower Advisors LLC now owns 37,377 shares of the financial services provider’s stock worth $1,121,000 after purchasing an additional 4,534 shares during the period. Rhumbline Advisers raised its holdings in shares of The Carlyle Group by 1.2% during the third quarter. Rhumbline Advisers now owns 239,705 shares of the financial services provider’s stock valued at $7,229,000 after acquiring an additional 2,764 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of The Carlyle Group during the third quarter valued at approximately $221,000. Envestnet Asset Management Inc. raised its holdings in shares of The Carlyle Group by 27.9% during the third quarter. Envestnet Asset Management Inc. now owns 308,156 shares of the financial services provider’s stock valued at $9,294,000 after acquiring an additional 67,236 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of The Carlyle Group by 11.0% during the third quarter. FMR LLC now owns 2,134,653 shares of the financial services provider’s stock valued at $64,381,000 after acquiring an additional 211,210 shares during the last quarter. Institutional investors and hedge funds own 55.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. UBS Group boosted their target price on The Carlyle Group from $46.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. TD Cowen dropped their target price on The Carlyle Group from $49.00 to $45.00 and set a “hold” rating on the stock in a research note on Thursday, May 2nd. The Goldman Sachs Group dropped their target price on The Carlyle Group from $54.00 to $48.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $48.00 target price (down from $50.00) on shares of The Carlyle Group in a research note on Thursday, May 2nd. Finally, Oppenheimer dropped their target price on The Carlyle Group from $74.00 to $68.00 and set an “outperform” rating on the stock in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $45.60.

The Carlyle Group Company Profile

The Carlyle Group Inc is an investment firm specializing in direct and fund of fund investments. Within direct investments, it specializes in management-led/ Leveraged buyouts, privatizations, divestitures, strategic minority equity investments, structured credit, global distressed and corporate opportunities, small and middle market, equity private placements, consolidations and buildups, senior debt, mezzanine and leveraged finance, and venture and growth capital financings, seed/startup, early venture, emerging growth, turnaround, mid venture, late venture, PIPES.