Ritholtz Wealth Management Makes New Investment in Carlyle Group Inc. $CG

Ritholtz Wealth Management acquired a new position in Carlyle Group Inc. (NASDAQ:CG) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 9,125 shares of the financial services provider’s stock, valued at approximately $572,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP raised its stake in Carlyle Group by 150.3% in the second quarter. Allworth Financial LP now owns 498 shares of the financial services provider’s stock valued at $26,000 after buying an additional 299 shares during the last quarter. WFA of San Diego LLC purchased a new stake in Carlyle Group during the 2nd quarter worth approximately $26,000. Geneos Wealth Management Inc. raised its holdings in shares of Carlyle Group by 755.3% in the first quarter. Geneos Wealth Management Inc. now owns 650 shares of the financial services provider’s stock worth $28,000 after buying an additional 574 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Carlyle Group in the 2nd quarter valued at $38,000. Finally, Motco acquired a new stake in Carlyle Group during the 3rd quarter worth about $40,000. Hedge funds and other institutional investors own 55.88% of the company’s stock.

Carlyle Group Price Performance

Shares of Carlyle Group stock opened at $61.81 on Wednesday. The firm has a market cap of $22.28 billion, a PE ratio of 34.53, a P/E/G ratio of 1.15 and a beta of 2.04. The business has a 50-day moving average price of $58.63 and a 200 day moving average price of $60.21. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 1.78. Carlyle Group Inc. has a twelve month low of $33.02 and a twelve month high of $69.85.

Carlyle Group (NASDAQ:CG) last posted its quarterly earnings data on Friday, November 7th. The financial services provider reported $0.98 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.98. Carlyle Group had a net margin of 16.91% and a return on equity of 23.46%. The company had revenue of $782.50 million during the quarter, compared to analysts’ expectations of $848.51 million. During the same period in the prior year, the business posted $0.95 earnings per share. Sell-side 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 disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Monday, November 10th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.3%. The ex-dividend date was Monday, November 10th. Carlyle Group’s payout ratio is 78.21%.

Analyst Ratings Changes

CG has been the subject of a number of research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Carlyle Group in a report on Wednesday, October 8th. TD Cowen cut their price objective on shares of Carlyle Group from $77.00 to $76.00 and set a “buy” rating on the stock in a research note on Wednesday, January 14th. JPMorgan Chase & Co. decreased their target price on shares of Carlyle Group from $68.00 to $66.00 and set a “neutral” rating for the company in a research report on Monday, November 3rd. Wall Street Zen downgraded Carlyle Group from a “hold” rating to a “sell” rating in a research report on Sunday, January 11th. Finally, UBS Group upped their target price on Carlyle Group from $74.00 to $81.00 and gave the stock a “buy” rating in a research note on Tuesday, January 13th. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Carlyle Group presently has a consensus rating of “Hold” and a consensus target price of $67.08.

Insider Activity at Carlyle Group

In other news, Director David M. Rubenstein sold 625,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $56.55, for a total value of $35,343,750.00. Following the transaction, the director owned 27,999,644 shares in the company, valued at $1,583,379,868.20. This trade represents a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 26.30% of the stock is owned by 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.