Carlyle Group Inc. $CG Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its position in shares of Carlyle Group Inc. (NASDAQ:CG) by 2.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 534,583 shares of the financial services provider’s stock after acquiring an additional 11,202 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Carlyle Group were worth $33,518,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Generali Asset Management SPA SGR acquired a new position in Carlyle Group during the 3rd quarter worth approximately $1,913,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Carlyle Group during the second quarter worth $236,000. Galvin Gaustad & Stein LLC increased its holdings in Carlyle Group by 54.4% in the third quarter. Galvin Gaustad & Stein LLC now owns 233,054 shares of the financial services provider’s stock valued at $14,612,000 after buying an additional 82,094 shares during the last quarter. FFG Partners LLC acquired a new stake in Carlyle Group in the third quarter valued at $1,713,000. Finally, Pallas Capital Advisors LLC acquired a new position in shares of Carlyle Group during the 2nd quarter worth about $308,000. 55.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Carlyle Group news, Director David M. Rubenstein sold 625,000 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $56.55, for a total transaction of $35,343,750.00. Following the completion of the sale, the director directly owned 27,999,644 shares of the company’s stock, valued at approximately $1,583,379,868.20. This trade represents a 2.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 26.30% of the stock is currently owned by corporate insiders.

Carlyle Group Stock Performance

Shares of CG opened at $65.62 on Friday. The company’s 50 day simple moving average is $58.21 and its 200-day simple moving average is $60.01. Carlyle Group Inc. has a 12-month low of $33.02 and a 12-month high of $69.85. The firm has a market cap of $23.65 billion, a PE ratio of 36.66, a price-to-earnings-growth ratio of 1.16 and a beta of 2.04. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 1.78.

Carlyle Group (NASDAQ:CG) last issued its quarterly earnings results on Friday, November 7th. The financial services provider reported $0.98 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.98. The firm had revenue of $782.50 million during the quarter, compared to analysts’ expectations of $848.51 million. Carlyle Group had a net margin of 16.91% and a return on equity of 23.46%. During the same quarter in the prior year, the business earned $0.95 EPS. As a group, equities analysts predict that Carlyle Group Inc. will post 4.48 EPS for the current year.

Carlyle Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Monday, November 10th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.1%. The ex-dividend date was Monday, November 10th. Carlyle Group’s payout ratio is 78.21%.

Wall Street Analyst Weigh In

CG has been the topic of several research analyst reports. JPMorgan Chase & Co. cut their target price on Carlyle Group from $68.00 to $66.00 and set a “neutral” rating on the stock in a research report on Monday, November 3rd. BMO Capital Markets began coverage on shares of Carlyle Group in a report on Friday, October 3rd. They set an “outperform” rating and a $74.00 price objective on the stock. Morgan Stanley upped their target price on shares of Carlyle Group from $65.00 to $67.00 and gave the company an “equal weight” rating in a report on Tuesday, October 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Carlyle Group in a research note on Wednesday, October 8th. Finally, UBS Group upped their price objective on shares of Carlyle Group from $74.00 to $81.00 and gave the company a “buy” rating in a research note on Tuesday. Eight research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Carlyle Group currently has a consensus rating of “Hold” and a consensus target price of $67.08.

About Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager that invests across a range of strategies including private equity, real assets (such as real estate and infrastructure), global credit, and investment solutions. Founded in 1987 and headquartered in Washington, DC, Carlyle raises and manages investment funds that acquire, operate and exit companies and assets on behalf of institutional and private investors. The firm is publicly traded on the Nasdaq exchange and operates as an asset manager and investment advisor rather than as an operating company.

Carlyle’s core activities include sourcing and executing private equity buyouts and growth investments, originating and managing credit and financing solutions, and acquiring and operating real asset portfolios.