Sumitomo Mitsui Trust Group Inc. Grows Stake in Carlyle Group Inc. $CG

Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Carlyle Group Inc. (NASDAQ:CG) by 7.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 523,381 shares of the financial services provider’s stock after buying an additional 34,326 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Carlyle Group were worth $26,902,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Carlyle Group by 4.9% in the first quarter. Vanguard Group Inc. now owns 24,292,937 shares of the financial services provider’s stock valued at $1,058,929,000 after purchasing an additional 1,131,514 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Carlyle Group by 7.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 6,827,559 shares of the financial services provider’s stock valued at $297,613,000 after purchasing an additional 476,127 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Carlyle Group by 21.7% in the first quarter. Ameriprise Financial Inc. now owns 2,722,737 shares of the financial services provider’s stock valued at $118,684,000 after purchasing an additional 485,488 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Carlyle Group by 37.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,604,610 shares of the financial services provider’s stock valued at $69,945,000 after purchasing an additional 441,276 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Carlyle Group by 1.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,427,171 shares of the financial services provider’s stock worth $62,210,000 after buying an additional 20,970 shares in the last quarter. Hedge funds and other institutional investors own 55.88% of the company’s stock.

Carlyle Group Trading Down 0.9%

CG stock opened at $57.71 on Wednesday. The company’s 50-day simple moving average is $62.74 and its 200-day simple moving average is $54.45. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 1.52. Carlyle Group Inc. has a 52-week low of $33.02 and a 52-week high of $69.85. The firm has a market cap of $20.87 billion, a P/E ratio of 16.87, a PEG ratio of 1.24 and a beta of 2.00.

Insider Activity

In other news, General Counsel Jeffrey W. Ferguson sold 202,606 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $64.23, for a total transaction of $13,013,383.38. Following the sale, the general counsel directly owned 753,255 shares of the company’s stock, valued at $48,381,568.65. This represents a 21.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 26.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on CG shares. Jefferies Financial Group boosted their price objective on shares of Carlyle Group from $54.00 to $66.00 and gave the stock a “hold” rating in a research note on Wednesday, August 13th. Citigroup reduced their price target on Carlyle Group from $75.00 to $74.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. BMO Capital Markets started coverage on Carlyle Group in a research report on Friday, October 3rd. They set an “outperform” rating and a $74.00 price target on the stock. Barclays reaffirmed an “overweight” rating and issued a $74.00 price target (up from $66.00) on shares of Carlyle Group in a report on Thursday, August 7th. Finally, JMP Securities upped their price target on shares of Carlyle Group from $70.00 to $75.00 and gave the company a “market outperform” rating in a report on Thursday, August 14th. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $64.69.

About Carlyle Group

The Carlyle Group Inc is an investment firm specializing in direct and fund of fund investments. Within direct investments, it specializes in management-led/ Leveraged buyouts, privatizations, divestitures, strategic minority equity investments, structured credit, global distressed and corporate opportunities, small and middle market, equity private placements, consolidations and buildups, senior debt, mezzanine and leveraged finance, and venture and growth capital financings, seed/startup, early venture, emerging growth, turnaround, mid venture, late venture, PIPES.