Creative Planning Grows Position in The Carlyle Group Inc. (NASDAQ:CG)

Creative Planning lifted its holdings in shares of The Carlyle Group Inc. (NASDAQ:CG) by 7.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,787 shares of the financial services provider’s stock after buying an additional 882 shares during the period. Creative Planning’s holdings in The Carlyle Group were worth $551,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Capital World Investors lifted its holdings in 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 valued at $940,687,000 after acquiring an additional 79,681 shares during the period. William Blair Investment Management LLC lifted its holdings in The Carlyle Group by 6.5% in the first quarter. William Blair Investment Management LLC now owns 11,819,403 shares of the financial services provider’s stock valued at $554,448,000 after acquiring an additional 721,608 shares during the period. Ariel Investments LLC lifted its holdings in The Carlyle Group by 1.1% in the second quarter. Ariel Investments LLC now owns 4,937,725 shares of the financial services provider’s stock valued at $198,250,000 after acquiring an additional 54,805 shares during the period. Capital International Investors bought a new position in The Carlyle Group in the first quarter valued at about $142,511,000. Finally, Bank of New York Mellon Corp lifted its holdings in The Carlyle Group by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 2,727,870 shares of the financial services provider’s stock valued at $109,524,000 after acquiring an additional 55,662 shares during the period. 55.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on CG shares. Evercore ISI increased their target price on The Carlyle Group from $45.00 to $47.00 and gave the company an “in-line” rating in a report on Monday, October 14th. Wells Fargo & Company raised their price objective on The Carlyle Group from $42.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. Oppenheimer raised their price objective on The Carlyle Group from $64.00 to $78.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. UBS Group raised their price objective on The Carlyle Group from $43.00 to $54.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. 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. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, The Carlyle Group has an average rating of “Hold” and an average price target of $51.33.

The Carlyle Group Price Performance

Shares of CG stock opened at $49.46 on Wednesday. The Carlyle Group Inc. has a 52-week low of $28.44 and a 52-week high of $52.73. 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 capitalization of $17.62 billion, a P/E ratio of -44.16, a P/E/G ratio of 1.27 and a beta of 1.70. The stock has a 50 day moving average price of $44.66 and a 200 day moving average price of $43.23.

The Carlyle Group (NASDAQ:CG) last issued its earnings results on Monday, August 5th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). The firm had revenue of $1.07 billion for 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 company’s revenue for the quarter was up 131.5% on a year-over-year basis. During the same period last year, the firm earned $0.88 earnings per share. As a group, sell-side analysts predict that The Carlyle Group Inc. will post 3.71 earnings per share for the current year.

Insider Buying and Selling at The Carlyle Group

In other The Carlyle Group news, major shareholder Carlyle Group Inc. sold 133,643 shares of The Carlyle Group stock in a transaction on Monday, October 7th. The stock was sold at an average price of $2.51, for a total transaction of $335,443.93. Following the completion of the sale, the insider now directly owns 4,767,697 shares of the company’s stock, valued at $11,966,919.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 1,676,014 shares of company stock valued at $3,687,196 in the last ninety days. 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.