Carret Asset Management LLC raised its stake in The Carlyle Group LP (NASDAQ:CG) by 30.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,000 shares of the financial services provider’s stock after buying an additional 3,000 shares during the period. Carret Asset Management LLC’s holdings in The Carlyle Group were worth $207,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the company. SOL Capital Management CO increased its position in The Carlyle Group by 0.6% in the third quarter. SOL Capital Management CO now owns 242,450 shares of the financial services provider’s stock worth $3,775,000 after buying an additional 1,400 shares during the period. Vantage Investment Partners LLC increased its position in The Carlyle Group by 16.8% in the third quarter. Vantage Investment Partners LLC now owns 600,407 shares of the financial services provider’s stock worth $9,348,000 after buying an additional 86,207 shares during the period. Groesbeck Investment Management Corp NJ purchased a new position in The Carlyle Group during the third quarter worth approximately $2,624,000. Morgan Stanley increased its position in The Carlyle Group by 15.1% in the third quarter. Morgan Stanley now owns 4,148,364 shares of the financial services provider’s stock worth $64,589,000 after buying an additional 545,428 shares during the period. Finally, Hsbc Holdings PLC increased its position in The Carlyle Group by 4.7% in the third quarter. Hsbc Holdings PLC now owns 44,145 shares of the financial services provider’s stock worth $687,000 after buying an additional 2,000 shares during the period. Hedge funds and other institutional investors own 41.59% of the company’s stock.
The Carlyle Group LP (NASDAQ:CG) traded up 2.03% during midday trading on Friday, hitting $17.60. The stock had a trading volume of 779,431 shares. The Carlyle Group LP has a 12-month low of $14.35 and a 12-month high of $18.80. The company’s 50-day moving average price is $16.96 and its 200 day moving average price is $16.27. The stock has a market cap of $1.51 billion, a P/E ratio of 81.86 and a beta of 1.92.
The Carlyle Group (NASDAQ:CG) last announced its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.71. The Carlyle Group had a return on equity of 14.73% and a net margin of 0.28%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $530.61 million. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The business’s quarterly revenue was up 131.9% compared to the same quarter last year. On average, equities research analysts predict that The Carlyle Group LP will post $2.46 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 22nd. Investors of record on Monday, May 15th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, May 11th. This represents a $0.40 annualized dividend and a dividend yield of 2.27%. The Carlyle Group’s dividend payout ratio is presently -2,000.00%.
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A number of research firms have recently commented on CG. Credit Suisse Group AG upgraded The Carlyle Group from a “neutral” rating to an “outperform” rating and set a $23.00 price objective on the stock in a report on Thursday, May 11th. Jefferies Group LLC raised their price objective on The Carlyle Group from $17.00 to $18.50 and gave the stock a “hold” rating in a report on Wednesday, May 10th. Zacks Investment Research upgraded The Carlyle Group from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Thursday, May 11th. Finally, Keefe, Bruyette & Woods upgraded The Carlyle Group from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $17.50 to $20.00 in a report on Thursday, May 4th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The Carlyle Group presently has a consensus rating of “Buy” and a consensus target price of $19.07.
In related news, insider Pamela L. Bentley sold 9,928 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $17.40, for a total transaction of $172,747.20. Following the completion of the transaction, the insider now owns 161,702 shares of the company’s stock, valued at approximately $2,813,614.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
The Carlyle Group Company Profile
The Carlyle Group L.P. is a diversified multi-product global alternative asset management firm. The Company operates in four segments: Corporate Private Equity (CPE), Real Assets, Global Market Strategies (GMS) and Investment Solutions. Corporate Private Equity advises its buyout and growth capital funds, which pursue various corporate investments of different sizes and growth potentials.
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