Carlyle Group (NASDAQ:CG) Director David Rubenstein Sells 500,000 Shares

Carlyle Group Inc. (NASDAQ:CG) Director David Rubenstein sold 500,000 shares of the stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $46.68, for a total value of $23,340,000.00. Following the transaction, the director directly owned 27,399,644 shares of the company’s stock, valued at approximately $1,279,015,381.92. The trade was a 1.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Carlyle Group Price Performance

Shares of CG traded down $0.60 during midday trading on Friday, reaching $47.13. The stock had a trading volume of 3,641,004 shares, compared to its average volume of 3,249,722. The firm’s 50 day moving average price is $55.78 and its 200-day moving average price is $58.05. Carlyle Group Inc. has a 52 week low of $33.02 and a 52 week high of $69.85. The company has a market capitalization of $17.02 billion, a P/E ratio of 21.62, a P/E/G ratio of 0.92 and a beta of 2.07. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.33 and a quick ratio of 2.33.

Carlyle Group (NASDAQ:CG) last released its earnings results on Thursday, February 5th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.03). Carlyle Group had a return on equity of 23.62% and a net margin of 16.92%.The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the firm earned $0.92 earnings per share. Carlyle Group’s revenue was up 84.1% on a year-over-year basis. On average, analysts forecast that Carlyle Group Inc. will post 4.48 earnings per share for the current fiscal year.

Carlyle Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Monday, February 16th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.40 annualized dividend and a yield of 3.0%. Carlyle Group’s dividend payout ratio is currently 64.22%.

Institutional Trading of Carlyle Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Generali Asset Management SPA SGR bought a new position in Carlyle Group during the third quarter valued at about $1,913,000. Fifth Third Bancorp increased its holdings in shares of Carlyle Group by 28.7% during the 3rd quarter. Fifth Third Bancorp now owns 107,198 shares of the financial services provider’s stock valued at $6,721,000 after acquiring an additional 23,901 shares during the last quarter. New York State Common Retirement Fund raised its stake in shares of Carlyle Group by 16.3% in the 3rd quarter. New York State Common Retirement Fund now owns 207,395 shares of the financial services provider’s stock valued at $13,004,000 after acquiring an additional 29,000 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Carlyle Group by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 25,434,009 shares of the financial services provider’s stock worth $1,594,712,000 after purchasing an additional 714,428 shares during the last quarter. Finally, Onyx Bridge Wealth Group LLC acquired a new position in Carlyle Group during the third quarter valued at approximately $1,564,000. Institutional investors and hedge funds own 55.88% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Wall Street Zen raised Carlyle Group from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Wolfe Research reaffirmed an “outperform” rating on shares of Carlyle Group in a research report on Wednesday, January 7th. Barclays reduced their target price on Carlyle Group from $71.00 to $68.00 and set an “overweight” rating for the company in a report on Monday, March 2nd. Royal Bank Of Canada initiated coverage on Carlyle Group in a report on Monday, February 23rd. They set an “outperform” rating and a $67.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their price objective on shares of Carlyle Group from $66.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. Eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $65.36.

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.