The Carlyle Group Inc. (NASDAQ:CG) Position Trimmed by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its stake in shares of The Carlyle Group Inc. (NASDAQ:CG) by 15.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 474,274 shares of the financial services provider’s stock after selling 89,017 shares during the period. The Manufacturers Life Insurance Company owned about 0.13% of The Carlyle Group worth $19,042,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CG. GAMMA Investing LLC increased its stake in The Carlyle Group by 22.8% in the 1st quarter. GAMMA Investing LLC now owns 1,156 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 215 shares in the last quarter. Riverwater Partners LLC increased its stake in The Carlyle Group by 1.1% in the 1st quarter. Riverwater Partners LLC now owns 21,761 shares of the financial services provider’s stock worth $1,021,000 after purchasing an additional 228 shares in the last quarter. Retirement Planning Co of New England Inc. boosted its position in The Carlyle Group by 2.5% during the 1st quarter. Retirement Planning Co of New England Inc. now owns 11,314 shares of the financial services provider’s stock worth $531,000 after acquiring an additional 271 shares during the period. Intrepid Capital Management Inc. boosted its position in The Carlyle Group by 2.6% during the 4th quarter. Intrepid Capital Management Inc. now owns 12,103 shares of the financial services provider’s stock worth $492,000 after acquiring an additional 305 shares during the period. Finally, Western Pacific Wealth Management LP boosted its position in The Carlyle Group by 14.7% during the 1st quarter. Western Pacific Wealth Management LP now owns 2,447 shares of the financial services provider’s stock worth $115,000 after acquiring an additional 313 shares during the period. 55.88% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Carlyle Group Inc. sold 50,739 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $31.15, for a total transaction of $1,580,519.85. Following the sale, the insider now directly owns 11,249,724 shares in the company, valued at $350,428,902.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold a total of 1,563,500 shares of company stock valued at $58,426,307 in the last three months. Company insiders own 27.20% of the company’s stock.

The Carlyle Group Stock Up 0.3 %

CG opened at $43.20 on Wednesday. The business has a 50 day moving average price of $41.57 and a 200 day moving average price of $42.80. The Carlyle Group Inc. has a twelve month low of $27.13 and a twelve month high of $50.92. The company has a debt-to-equity ratio of 1.75, a quick ratio of 2.55 and a current ratio of 2.55. The firm has a market cap of $15.55 billion, a P/E ratio of -24.13, a price-to-earnings-growth ratio of 1.30 and a beta of 1.73.

The Carlyle Group (NASDAQ:CG) last posted its earnings results 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 analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the firm posted $0.88 earnings per share. Research analysts forecast that The Carlyle Group Inc. will post 3.76 EPS for the current year.

The Carlyle Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend was Friday, August 16th. The Carlyle Group’s dividend payout ratio is currently -78.21%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CG shares. Redburn Atlantic started coverage on The Carlyle Group in a research report on Tuesday, August 27th. They set a “buy” rating and a $55.00 price objective for the company. Oppenheimer decreased their price objective on The Carlyle Group from $69.00 to $64.00 and set an “outperform” rating for the company in a research report on Tuesday, August 6th. JPMorgan Chase & Co. lowered The Carlyle Group from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $46.00 to $44.00 in a research report on Tuesday, August 6th. TD Cowen lifted their price target on The Carlyle Group from $41.00 to $42.00 and gave the company a “hold” rating in a report on Tuesday, August 6th. Finally, Wells Fargo & Company started coverage on The Carlyle Group in a report on Thursday, September 12th. They set an “equal weight” rating and a $42.00 price target for the company. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price 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.