Davis Asset Management L.P. Makes New $47.63 Million Investment in Carlyle Group Inc. $CG

Davis Asset Management L.P. bought a new position in Carlyle Group Inc. (NASDAQ:CG) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,131,000 shares of the financial services provider’s stock, valued at approximately $47,626,000. Carlyle Group comprises about 1.2% of Davis Asset Management L.P.’s portfolio, making the stock its 27th largest position. Davis Asset Management L.P. owned 0.32% of Carlyle Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of CG. BlackRock Inc. acquired a new position in Carlyle Group during the 2nd quarter worth $1,346,848,000. Vanguard Group Inc. raised its position in shares of Carlyle Group by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 26,368,246 shares of the financial services provider’s stock worth $1,558,627,000 after acquiring an additional 934,237 shares during the last quarter. Morgan Stanley lifted its stake in shares of Carlyle Group by 0.8% during the fourth quarter. Morgan Stanley now owns 10,189,948 shares of the financial services provider’s stock valued at $602,328,000 after acquiring an additional 84,228 shares during the period. State Street Corp boosted its holdings in Carlyle Group by 20.9% in the third quarter. State Street Corp now owns 9,942,135 shares of the financial services provider’s stock valued at $623,372,000 after acquiring an additional 1,720,483 shares during the last quarter. Finally, William Blair Investment Management LLC bought a new stake in Carlyle Group during the 2nd quarter worth about $249,077,000. Institutional investors own 55.88% of the company’s stock.

Carlyle Group Stock Performance

Shares of CG stock opened at $49.37 on Friday. The company has a fifty day moving average price of $45.72 and a two-hundred day moving average price of $48.04. Carlyle Group Inc. has a one year low of $39.60 and a one year high of $69.85. The stock has a market cap of $17.59 billion, a P/E ratio of 51.43, a P/E/G ratio of 1.49 and a beta of 1.83. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.35 and a quick ratio of 2.35.

Carlyle Group (NASDAQ:CG) last released its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.16. Carlyle Group had a net margin of 10.08% and a return on equity of 22.52%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $923.50 million. During the same period in the previous year, the business earned $0.87 EPS. Carlyle Group’s revenue for the quarter was down 28.6% compared to the same quarter last year. As a group, equities analysts predict that Carlyle Group Inc. will post 3.69 EPS for the current year.

Carlyle Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Monday, August 17th will be paid a $0.35 dividend. The ex-dividend date is Monday, August 17th. This represents a $1.40 annualized dividend and a yield of 2.8%. Carlyle Group’s dividend payout ratio is currently 145.83%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CG. TD Cowen reaffirmed a “hold” rating on shares of Carlyle Group in a research note on Thursday, August 6th. BMO Capital Markets restated an “outperform” rating and set a $52.00 price objective on shares of Carlyle Group in a report on Monday, July 13th. Citigroup reaffirmed an “outperform” rating on shares of Carlyle Group in a research report on Thursday, August 6th. Wall Street Zen cut Carlyle Group from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Cfra lowered Carlyle Group to a “sell” rating and set a $45.00 target price on the stock. in a report on Friday, May 8th. Seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $59.31.

About Carlyle Group

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.