Carlyle Group Inc. $CG Shares Bought by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. lifted its position in shares of Carlyle Group Inc. (NASDAQ:CG) by 52.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,935,909 shares of the financial services provider’s stock after purchasing an additional 665,850 shares during the period. Beutel Goodman & Co Ltd. owned about 0.54% of Carlyle Group worth $76,778,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new position in Carlyle Group during the second quarter worth approximately $1,346,848,000. William Blair Investment Management LLC acquired a new stake in shares of Carlyle Group in the second quarter valued at approximately $249,077,000. Legal & General Group Plc acquired a new stake in shares of Carlyle Group in the second quarter valued at approximately $162,984,000. Amundi grew its position in shares of Carlyle Group by 419.0% during the second quarter. Amundi now owns 3,406,001 shares of the financial services provider’s stock worth $143,427,000 after acquiring an additional 2,749,781 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Carlyle Group by 1.1% during the first quarter. Bank of New York Mellon Corp now owns 2,047,650 shares of the financial services provider’s stock worth $99,086,000 after acquiring an additional 23,065 shares during the last quarter. 55.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Carlyle Group news, Director David Rubenstein sold 400,000 shares of the company’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $42.74, for a total transaction of $17,096,000.00. Following the completion of the transaction, the director owned 26,899,644 shares in the company, valued at approximately $1,149,690,784.56. This represents a 1.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 25.40% of the company’s stock.

Carlyle Group Price Performance

Carlyle Group stock opened at $42.31 on Tuesday. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.35 and a quick ratio of 2.35. The business has a 50 day simple moving average of $40.51 and a 200-day simple moving average of $46.65. Carlyle Group Inc. has a 12 month low of $35.41 and a 12 month high of $67.30. The stock has a market capitalization of $15.08 billion, a PE ratio of 45.01, a price-to-earnings-growth ratio of 1.37 and a beta of 1.84.

Carlyle Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Monday, November 16th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Monday, November 16th. Carlyle Group’s payout ratio is currently 148.94%.

Analyst Ratings Changes

Several analysts recently commented on CG shares. Wells Fargo & Company started coverage on shares of Carlyle Group in a research report on Friday, October 2nd. They issued an “equal weight” rating and a $43.00 price target for the company. BMO Capital Markets decreased their price target on shares of Carlyle Group from $56.00 to $46.00 and set an “outperform” rating for the company in a research note on Tuesday, October 27th. Keefe, Bruyette & Woods raised their price objective on shares of Carlyle Group from $47.00 to $50.00 and gave the stock a “market perform” rating in a research report on Thursday, August 6th. Barclays dropped their price objective on shares of Carlyle Group from $53.00 to $48.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Royal Bank Of Canada reduced their target price on shares of Carlyle Group from $58.00 to $48.00 and set a “sector perform” rating for the company in a report on Monday, October 5th. Eight equities research 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 stock currently has an average rating of “Hold” and a consensus target price of $51.93.

Carlyle Group Profile

The Carlyle Group Inc is a global alternative asset manager that invests on behalf of institutional and individual clients. Its business includes private equity, credit and investment solutions, including portfolios of private equity funds and related investments.

Founded in Washington, DC, in 1987, Carlyle has grown into an international firm with investment activities and offices across North America, Europe and Asia, among other regions. Its strategies span a range of industries and markets, and it works with businesses at different stages of development.

Harvey Schwartz became Carlyle’s chief executive officer in 2023.