The Carlyle Group Inc. (NASDAQ:CG) Stake Lessened by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its holdings in The Carlyle Group Inc. (NASDAQ:CG) by 8.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 363,850 shares of the financial services provider’s stock after selling 32,470 shares during the period. Envestnet Asset Management Inc. owned approximately 0.10% of The Carlyle Group worth $14,609,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of The Carlyle Group by 7.6% in the fourth quarter. Vanguard Group Inc. now owns 24,876,188 shares of the financial services provider’s stock worth $1,012,212,000 after acquiring an additional 1,756,189 shares during the last quarter. Capital World Investors increased its stake in shares of The Carlyle Group by 0.4% in the first quarter. Capital World Investors now owns 20,053,012 shares of the financial services provider’s stock worth $940,687,000 after acquiring an additional 79,681 shares during the last quarter. William Blair Investment Management LLC increased its position in The Carlyle Group by 6.5% during the first quarter. William Blair Investment Management LLC now owns 11,819,403 shares of the financial services provider’s stock worth $554,448,000 after buying an additional 721,608 shares during the last quarter. Capital International Investors acquired a new position in The Carlyle Group during the first quarter worth $142,511,000. Finally, Bank of New York Mellon Corp increased its position in The Carlyle Group by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 2,727,870 shares of the financial services provider’s stock worth $109,524,000 after buying an additional 55,662 shares during the last quarter. Hedge funds and other institutional investors own 55.88% of the company’s stock.

The Carlyle Group Stock Up 0.5 %

Shares of CG opened at $43.34 on Wednesday. The stock has a market cap of $15.60 billion, a price-to-earnings ratio of -24.21, a P/E/G ratio of 1.13 and a beta of 1.73. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 1.75. The Carlyle Group Inc. has a 12 month low of $27.13 and a 12 month high of $50.92. The company has a 50-day moving average price of $41.89 and a two-hundred day moving average price of $42.90.

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

The Carlyle Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend was Friday, August 16th. The Carlyle Group’s payout ratio is -78.21%.

Wall Street Analyst Weigh In

Several equities analysts have commented on CG shares. Oppenheimer lowered their target price on shares of The Carlyle Group from $69.00 to $64.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 6th. Redburn Atlantic started coverage on shares of The Carlyle Group in a research report on Tuesday, August 27th. They set a “buy” rating and a $55.00 target price on the stock. Barclays lowered their target price on shares of The Carlyle Group from $51.00 to $46.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Wells Fargo & Company initiated coverage on The Carlyle Group in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $42.00 price target on the stock. Finally, TD Cowen raised their price target on The Carlyle Group from $41.00 to $42.00 and gave the company a “hold” rating in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, The Carlyle Group currently has an average rating of “Hold” and a consensus target price of $45.81.

Insider Transactions at The Carlyle Group

In other news, major shareholder Carlyle Group Inc. sold 214,732 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $38.97, for a total transaction of $8,368,106.04. Following the completion of the sale, the insider now owns 10,113,040 shares of the company’s stock, valued at $394,105,168.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 1,747,271 shares of company stock valued at $64,316,868. Corporate insiders own 27.20% of the company’s stock.

The Carlyle Group Profile

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.