Carlyle Group (NASDAQ:CG) Releases Quarterly Earnings Results, Meets Expectations

Carlyle Group (NASDAQ:CG) announced its earnings results on Friday. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.98, Zacks reports. Carlyle Group had a return on equity of 23.60% and a net margin of 20.22%.

Carlyle Group Stock Down 0.1%

NASDAQ:CG traded down $0.06 during trading hours on Friday, reaching $52.43. 3,064,863 shares of the company traded hands, compared to its average volume of 2,895,852. Carlyle Group has a 1 year low of $33.02 and a 1 year high of $69.85. The stock has a market capitalization of $18.96 billion, a P/E ratio of 15.33, a P/E/G ratio of 1.22 and a beta of 2.01. The business’s 50-day moving average price is $61.07 and its two-hundred day moving average price is $55.29. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 1.52.

Carlyle Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 19th. Investors of record on Monday, November 10th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Monday, November 10th. Carlyle Group’s dividend payout ratio (DPR) is 40.94%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CG shares. Wells Fargo & Company increased their price target on Carlyle Group from $49.00 to $61.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th. Jefferies Financial Group boosted their price target on shares of Carlyle Group from $54.00 to $66.00 and gave the stock a “hold” rating in a research report on Wednesday, August 13th. Citigroup decreased their price objective on shares of Carlyle Group from $74.00 to $71.00 and set a “buy” rating for the company in a research report on Monday. Barclays restated an “overweight” rating and issued a $74.00 target price (up previously from $66.00) on shares of Carlyle Group in a report on Thursday, August 7th. Finally, Morgan Stanley increased their price target on Carlyle Group from $65.00 to $67.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 21st. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $67.36.

Insider Activity

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. B. Riley Wealth Advisors Inc. purchased a new stake in Carlyle Group in the second quarter worth approximately $475,000. State of Wyoming bought a new stake in shares of Carlyle Group in the second quarter worth $378,000. CANADA LIFE ASSURANCE Co lifted its holdings in Carlyle Group by 1.1% in the second quarter. CANADA LIFE ASSURANCE Co now owns 274,876 shares of the financial services provider’s stock valued at $14,144,000 after acquiring an additional 2,922 shares during the period. 44 Wealth Management LLC grew its stake in shares of Carlyle Group by 40.7% during the 2nd quarter. 44 Wealth Management LLC now owns 16,212 shares of the financial services provider’s stock valued at $833,000 after purchasing an additional 4,692 shares during the period. Finally, Captrust Financial Advisors increased its position in shares of Carlyle Group by 93.3% during the 2nd quarter. Captrust Financial Advisors now owns 27,115 shares of the financial services provider’s stock valued at $1,394,000 after purchasing an additional 13,090 shares during the last quarter. 55.88% of the stock is owned by hedge funds and other institutional investors.

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.