Frontier Capital Management Co. LLC Cuts Stake in Carlyle Group Inc. $CG

Frontier Capital Management Co. LLC cut its position in Carlyle Group Inc. (NASDAQ:CG) by 28.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,887,159 shares of the financial services provider’s stock after selling 746,755 shares during the period. Carlyle Group makes up about 0.9% of Frontier Capital Management Co. LLC’s investment portfolio, making the stock its 13th largest holding. Frontier Capital Management Co. LLC owned about 0.52% of Carlyle Group worth $97,000,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CG. Norges Bank bought a new position in Carlyle Group in the 2nd quarter valued at approximately $150,122,000. Azora Capital LP bought a new position in shares of Carlyle Group during the second quarter valued at $30,791,000. Citigroup Inc. increased its holdings in Carlyle Group by 484.4% in the 1st quarter. Citigroup Inc. now owns 623,440 shares of the financial services provider’s stock worth $27,176,000 after buying an additional 516,761 shares in the last quarter. Ameriprise Financial Inc. raised its position in Carlyle Group by 21.7% in the 1st quarter. Ameriprise Financial Inc. now owns 2,722,737 shares of the financial services provider’s stock worth $118,684,000 after buying an additional 485,488 shares during the last quarter. Finally, Nuveen LLC bought a new position in Carlyle Group during the 1st quarter valued at about $20,793,000. Institutional investors own 55.88% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CG. Weiss Ratings reissued a “hold (c)” rating on shares of Carlyle Group in a report on Wednesday, October 8th. UBS Group set a $74.00 target price on shares of Carlyle Group in a research note on Thursday. Evercore ISI cut their price objective on Carlyle Group from $64.00 to $57.00 and set an “in-line” rating for the company in a report on Monday, November 3rd. Morgan Stanley increased their target price on Carlyle Group from $65.00 to $67.00 and gave the company an “equal weight” rating in a report on Tuesday, October 21st. Finally, Jefferies Financial Group boosted their price target on Carlyle Group from $54.00 to $66.00 and gave the company a “hold” rating in a research note on Wednesday, August 13th. Seven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Carlyle Group presently has an average rating of “Hold” and an average price target of $66.57.

Carlyle Group Stock Performance

NASDAQ:CG opened at $59.73 on Thursday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 2.49 and a current ratio of 2.49. The stock has a 50-day simple moving average of $55.88 and a two-hundred day simple moving average of $57.30. The firm has a market capitalization of $21.53 billion, a PE ratio of 33.37, a P/E/G ratio of 1.44 and a beta of 2.06. Carlyle Group Inc. has a 52-week low of $33.02 and a 52-week high of $69.85.

Carlyle Group (NASDAQ:CG) last posted its quarterly earnings data on Friday, November 7th. The financial services provider reported $0.98 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.98. The firm had revenue of $782.50 million for the quarter, compared to analysts’ expectations of $848.51 million. Carlyle Group had a return on equity of 23.46% and a net margin of 16.91%.During the same period in the previous year, the firm earned $0.95 EPS. Analysts forecast that Carlyle Group Inc. will post 4.48 EPS for the current year.

Carlyle Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Monday, November 10th were paid a $0.35 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.3%. Carlyle Group’s dividend payout ratio is 78.21%.

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.