Victory Capital Management Inc. Lowers Position in The Carlyle Group Inc. (NASDAQ:CG)

Victory Capital Management Inc. reduced its stake in The Carlyle Group Inc. (NASDAQ:CG) by 17.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,983 shares of the financial services provider’s stock after selling 8,391 shares during the period. Victory Capital Management Inc.’s holdings in The Carlyle Group were worth $1,722,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CG. Boston Partners purchased a new position in The Carlyle Group in the first quarter worth about $109,122,000. Massachusetts Financial Services Co. MA lifted its position in The Carlyle Group by 17,468.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,715,748 shares of the financial services provider’s stock worth $68,887,000 after buying an additional 1,705,982 shares during the last quarter. Marshall Wace LLP bought a new position in The Carlyle Group during the second quarter valued at $37,009,000. National Bank of Canada FI lifted its holdings in shares of The Carlyle Group by 89.3% in the 2nd quarter. National Bank of Canada FI now owns 764,765 shares of the financial services provider’s stock worth $30,269,000 after acquiring an additional 360,729 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of The Carlyle Group by 182.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 387,332 shares of the financial services provider’s stock worth $15,551,000 after purchasing an additional 250,021 shares during the period. Hedge funds and other institutional investors own 55.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CG shares. Keefe, Bruyette & Woods lifted their price objective on shares of The Carlyle Group from $51.00 to $55.00 and gave the company a “market perform” rating in a report on Friday, November 8th. Redburn Atlantic initiated coverage on The Carlyle Group in a research report on Tuesday, August 27th. They set a “buy” rating and a $55.00 target price for the company. TD Cowen increased their target price on shares of The Carlyle Group from $43.00 to $49.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Wells Fargo & Company increased their price objective on shares of The Carlyle Group from $42.00 to $48.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. Finally, Morgan Stanley upped their target price on The Carlyle Group from $46.00 to $50.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, The Carlyle Group has a consensus rating of “Hold” and a consensus target price of $53.33.

The Carlyle Group Stock Performance

CG opened at $53.65 on Monday. The firm has a 50 day moving average of $48.30 and a two-hundred day moving average of $44.03. The firm has a market capitalization of $19.19 billion, a PE ratio of 185.00, a P/E/G ratio of 1.39 and a beta of 1.70. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 1.38. The Carlyle Group Inc. has a 12-month low of $32.09 and a 12-month high of $54.52.

The Carlyle Group (NASDAQ:CG) last posted its earnings results on Wednesday, November 6th. The financial services provider reported $0.95 EPS for the quarter, topping the consensus estimate of $0.87 by $0.08. The firm had revenue of $895.00 million for the quarter, compared to analyst estimates of $908.17 million. The Carlyle Group had a return on equity of 24.91% and a net margin of 2.21%. The Carlyle Group’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period last year, the company earned $0.87 earnings per share. On average, analysts anticipate that The Carlyle Group Inc. will post 3.77 EPS for the current year.

The Carlyle Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Monday, November 18th will be given a $0.35 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.40 annualized dividend and a dividend yield of 2.61%. The Carlyle Group’s dividend payout ratio (DPR) is presently 482.76%.

Insiders Place Their Bets

In other The Carlyle Group news, major shareholder Carlyle Group Inc. sold 133,643 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $2.51, for a total value of $335,443.93. Following the completion of the sale, the insider now directly owns 4,767,697 shares in the company, valued at $11,966,919.47. This represents a 2.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel A. D’aniello sold 495,542 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $51.53, for a total transaction of $25,535,279.26. Following the completion of the sale, the director now directly owns 32,504,102 shares of the company’s stock, valued at $1,674,936,376.06. This represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,171,556 shares of company stock valued at $29,222,475 in the last 90 days. 27.20% of the stock is owned by insiders.

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.