Amalgamated Bank Sells 8,783 Shares of The Carlyle Group Inc. (NASDAQ:CG)

Amalgamated Bank cut its holdings in shares of The Carlyle Group Inc. (NASDAQ:CG) by 7.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,216 shares of the financial services provider’s stock after selling 8,783 shares during the period. Amalgamated Bank’s holdings in The Carlyle Group were worth $4,385,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Tobam acquired a new position in The Carlyle Group during the 2nd quarter worth $27,000. SYSTM Wealth Solutions LLC acquired a new position in The Carlyle Group during the 1st quarter worth $34,000. Blue Trust Inc. lifted its holdings in The Carlyle Group by 506.3% during the 2nd quarter. Blue Trust Inc. now owns 770 shares of the financial services provider’s stock worth $31,000 after buying an additional 643 shares in the last quarter. GAMMA Investing LLC lifted its holdings in The Carlyle Group by 22.8% during the 1st quarter. GAMMA Investing LLC now owns 1,156 shares of the financial services provider’s stock worth $54,000 after buying an additional 215 shares in the last quarter. Finally, 1832 Asset Management L.P. acquired a new position in shares of The Carlyle Group in the 1st quarter valued at $55,000. 55.88% of the stock is currently owned by institutional investors.

Insider Activity

In related news, major shareholder Carlyle Group Inc. sold 81,482 shares of The Carlyle Group stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $33.19, for a total transaction of $2,704,387.58. Following the completion of the transaction, the insider now owns 11,617,068 shares in the company, valued at $385,570,486.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 1,902,466 shares of company stock worth $69,552,560 in the last quarter. Corporate insiders own 27.20% of the company’s stock.

The Carlyle Group Price Performance

CG stock opened at $43.68 on Friday. The stock has a market cap of $15.72 billion, a PE ratio of -24.40, a price-to-earnings-growth ratio of 1.13 and a beta of 1.73. The stock has a 50-day moving average price of $41.97 and a two-hundred day moving average price of $42.99. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 1.75. The Carlyle Group Inc. has a 1 year low of $27.13 and a 1 year high of $50.92.

The Carlyle Group (NASDAQ:CG) last announced its quarterly earnings data on Monday, August 5th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.05). The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $808.73 million. The Carlyle Group had a negative net margin of 11.67% and a positive return on equity of 24.30%. The Carlyle Group’s revenue was up 131.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 EPS. Equities analysts forecast that The Carlyle Group Inc. will post 3.76 EPS for the current fiscal year.

The Carlyle Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend was Friday, August 16th. The Carlyle Group’s payout ratio is -78.21%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CG shares. Oppenheimer cut their price target on The Carlyle Group from $69.00 to $64.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 6th. Keefe, Bruyette & Woods cut their price target on The Carlyle Group from $48.00 to $46.00 and set a “market perform” rating on the stock in a research note on Tuesday, August 6th. JPMorgan Chase & Co. downgraded The Carlyle Group from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $46.00 to $44.00 in a research note on Tuesday, August 6th. UBS Group dropped their price objective on The Carlyle Group from $45.00 to $44.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, TD Cowen raised their price objective on The Carlyle Group from $41.00 to $42.00 and gave the stock a “hold” rating in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $45.81.

About The 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.