BigSur Wealth Management LLC Purchases New Position in The Carlyle Group LP (NASDAQ:CG)
BigSur Wealth Management LLC purchased a new stake in shares of The Carlyle Group LP (NASDAQ:CG) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 9,913 shares of the financial services provider’s stock, valued at approximately $231,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in CG. Cordasco Financial Network purchased a new position in shares of The Carlyle Group during the first quarter valued at about $41,000. Suntrust Banks Inc. increased its position in shares of The Carlyle Group by 18.7% during the fourth quarter. Suntrust Banks Inc. now owns 11,227 shares of the financial services provider’s stock valued at $183,000 after buying an additional 1,770 shares during the period. Stockman Wealth Management Inc. purchased a new position in shares of The Carlyle Group during the first quarter valued at about $183,000. Great West Life Assurance Co. Can grew its holdings in The Carlyle Group by 10.2% in the fourth quarter. Great West Life Assurance Co. Can now owns 15,440 shares of the financial services provider’s stock worth $235,000 after purchasing an additional 1,432 shares during the period. Finally, North Star Investment Management Corp. grew its holdings in The Carlyle Group by 7.3% in the first quarter. North Star Investment Management Corp. now owns 13,200 shares of the financial services provider’s stock worth $241,000 after purchasing an additional 900 shares during the period. Institutional investors own 41.43% of the company’s stock.
In other news, insider Pamela L. Bentley sold 10,000 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $19.79, for a total transaction of $197,900.00. Following the sale, the insider now owns 146,962 shares in the company, valued at $2,908,377.98. The transaction was disclosed in a filing with the SEC, which is available at this link.
The Carlyle Group (NASDAQ:CG) last posted its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $0.25 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.10). The Carlyle Group had a net margin of 9.83% and a return on equity of 6.82%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $487.45 million. During the same quarter in the previous year, the company earned $0.47 EPS. The company’s quarterly revenue was up 54.7% compared to the same quarter last year. Analysts predict that The Carlyle Group LP will post 1.58 earnings per share for the current year.
A number of equities research analysts have weighed in on CG shares. Canaccord Genuity set a $22.00 price objective on shares of Hibbett Sports and gave the stock a “hold” rating in a report on Monday, March 25th. TheStreet cut shares of Trade Desk from a “b-” rating to a “c-” rating in a report on Thursday, May 9th. Credit Suisse Group cut their price objective on shares of Athene from $67.00 to $57.00 and set an “outperform” rating on the stock in a report on Tuesday, May 21st. BidaskClub upgraded shares of Zillow Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 2nd. Finally, Bank of America upgraded shares of Church & Dwight from an “underperform” rating to a “neutral” rating and set a $75.00 price objective on the stock in a report on Friday, March 29th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $19.83.
About The Carlyle Group
The Carlyle Group L.P. 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.
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