Millennium Management LLC Sells 61,656 Shares of The Carlyle Group Inc. (NASDAQ:CG)

Millennium Management LLC decreased its stake in The Carlyle Group Inc. (NASDAQ:CG) by 18.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 264,932 shares of the financial services provider’s stock after selling 61,656 shares during the quarter. Millennium Management LLC owned approximately 0.07% of The Carlyle Group worth $10,637,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CG. Capital International Investors acquired a new stake in The Carlyle Group during the 1st quarter valued at $142,511,000. Boston Partners bought a new position in shares of The Carlyle Group in the first quarter valued at about $109,122,000. Vanguard Group Inc. grew its holdings in The Carlyle Group by 7.6% during the 4th 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. Goldman Sachs Group Inc. increased its position in The Carlyle Group by 194.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,593,761 shares of the financial services provider’s stock valued at $105,540,000 after acquiring an additional 1,712,133 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of The Carlyle Group by 17,468.6% during 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 purchasing an additional 1,705,982 shares in the last quarter. 55.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at The Carlyle Group

In other The Carlyle Group news, major shareholder Carlyle Group Inc. sold 57,253 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $32.35, for a total value of $1,852,134.55. Following the completion of the transaction, the insider now directly owns 10,987,749 shares in the company, valued at $355,453,680.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have sold 1,452,788 shares of company stock worth $55,023,207. Insiders own 27.20% of the company’s stock.

The Carlyle Group Stock Performance

Shares of CG opened at $46.76 on Tuesday. The firm’s 50 day moving average price is $41.49 and its two-hundred day moving average price is $42.78. 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 Carlyle Group Inc. has a twelve month low of $27.13 and a twelve month high of $50.92. The firm has a market cap of $16.83 billion, a P/E ratio of -26.12, a PEG ratio of 1.30 and a beta of 1.73.

The Carlyle Group (NASDAQ:CG) last released its quarterly earnings results on Monday, August 5th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.05). The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates 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 business’s revenue for the quarter was up 131.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.88 EPS. On average, analysts forecast that The Carlyle Group Inc. will post 3.76 EPS for the current fiscal year.

The Carlyle Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.99%. 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

Several research firms have issued reports on CG. Redburn Atlantic assumed coverage on The Carlyle Group in a report on Tuesday, August 27th. They set a “buy” rating and a $55.00 price objective on the stock. TD Cowen boosted their price objective on The Carlyle Group from $41.00 to $42.00 and gave the stock a “hold” rating in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of The Carlyle Group from $55.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. UBS Group cut their price objective on shares of The Carlyle Group from $45.00 to $44.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Finally, Barclays upped their target price on shares of The Carlyle Group from $46.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, The Carlyle Group has an average rating of “Hold” and an average target price of $47.13.

The Carlyle Group Company 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.