Retirement Systems of Alabama Boosts Stake in Carlyle Group Inc. $CG

Retirement Systems of Alabama raised its stake in Carlyle Group Inc. (NASDAQ:CG) by 20.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 314,872 shares of the financial services provider’s stock after acquiring an additional 54,452 shares during the quarter. Retirement Systems of Alabama’s holdings in Carlyle Group were worth $19,742,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Carlyle Group by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 24,719,581 shares of the financial services provider’s stock worth $1,270,586,000 after purchasing an additional 426,644 shares during the last quarter. State Street Corp grew its stake in Carlyle Group by 4.8% in the 2nd quarter. State Street Corp now owns 8,221,652 shares of the financial services provider’s stock worth $422,593,000 after acquiring an additional 378,455 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Carlyle Group by 6.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,618,075 shares of the financial services provider’s stock worth $477,653,000 after purchasing an additional 479,216 shares during the period. Alkeon Capital Management LLC increased its stake in Carlyle Group by 13.4% in the second quarter. Alkeon Capital Management LLC now owns 5,941,316 shares of the financial services provider’s stock valued at $305,384,000 after purchasing an additional 700,000 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Carlyle Group by 5.6% in the 2nd quarter. Geode Capital Management LLC now owns 4,284,894 shares of the financial services provider’s stock worth $219,583,000 after buying an additional 228,484 shares during the last quarter. Institutional investors and hedge funds own 55.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CG. UBS Group boosted their target price on shares of Carlyle Group from $74.00 to $81.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Keefe, Bruyette & Woods dropped their price objective on Carlyle Group from $66.00 to $64.00 and set a “market perform” rating for the company in a report on Monday, November 3rd. TD Cowen restated a “buy” rating on shares of Carlyle Group in a research note on Wednesday, January 14th. Citigroup decreased their target price on Carlyle Group from $74.00 to $71.00 and set a “buy” rating for the company in a report on Monday, November 3rd. Finally, Evercore ISI lifted their price target on shares of Carlyle Group from $57.00 to $62.00 and gave the company an “in-line” rating in a research report on Thursday, January 22nd. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $67.46.

Carlyle Group Stock Down 0.1%

Shares of NASDAQ:CG opened at $61.21 on Tuesday. The company has a 50 day moving average of $59.32 and a two-hundred day moving average of $60.36. Carlyle Group Inc. has a 52-week low of $33.02 and a 52-week high of $69.85. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 1.78. The company has a market capitalization of $22.06 billion, a price-to-earnings ratio of 34.20, a price-to-earnings-growth ratio of 1.08 and a beta of 2.04.

Carlyle Group (NASDAQ:CG) last released its quarterly earnings results on Friday, November 7th. The financial services provider reported $0.98 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.98. Carlyle Group had a net margin of 16.91% and a return on equity of 23.46%. The business had revenue of $782.50 million during the quarter, compared to analyst estimates of $848.51 million. During the same period last year, the business earned $0.95 EPS. As a group, analysts forecast that Carlyle Group Inc. will post 4.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Carlyle Group news, Director David M. Rubenstein sold 625,000 shares of Carlyle Group stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $56.55, for a total transaction of $35,343,750.00. Following the sale, the director directly owned 27,999,644 shares in the company, valued at $1,583,379,868.20. The trade was a 2.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 26.30% of the stock is currently owned by company 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.