Wesbanco Bank Inc. Has $8.93 Million Stock Position in Carlyle Group Inc. $CG

Wesbanco Bank Inc. reduced its position in shares of Carlyle Group Inc. (NASDAQ:CG) by 22.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 142,400 shares of the financial services provider’s stock after selling 41,106 shares during the period. Wesbanco Bank Inc.’s holdings in Carlyle Group were worth $8,929,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Edgemoor Investment Advisors Inc. acquired a new stake in Carlyle Group during the 3rd quarter worth about $277,000. Profund Advisors LLC raised its position in shares of Carlyle Group by 30.5% during the third quarter. Profund Advisors LLC now owns 5,909 shares of the financial services provider’s stock worth $370,000 after purchasing an additional 1,381 shares during the period. ProShare Advisors LLC raised its holdings in shares of Carlyle Group by 17.2% in the 3rd quarter. ProShare Advisors LLC now owns 11,076 shares of the financial services provider’s stock worth $694,000 after acquiring an additional 1,623 shares during the last quarter. Beckerman Institutional LLC bought a new position in shares of Carlyle Group in the third quarter valued at approximately $206,000. Finally, SPC Financial Inc. purchased a new position in Carlyle Group during the 3rd quarter worth $233,000. 55.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. TD Cowen reissued a “buy” rating on shares of Carlyle Group in a research report on Wednesday, January 14th. UBS Group increased their price objective on Carlyle Group from $74.00 to $81.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Evercore raised their price target on shares of Carlyle Group from $57.00 to $62.00 and gave the company an “in-line” rating in a report on Thursday, January 22nd. Barclays upped their price objective on shares of Carlyle Group from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Carlyle Group in a research report on Wednesday, January 21st. Seven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $68.00.

Carlyle Group Stock Up 0.9%

Shares of Carlyle Group stock opened at $59.21 on Tuesday. The company has a 50-day moving average of $60.58 and a 200 day moving average of $60.31. Carlyle Group Inc. has a 1 year low of $33.02 and a 1 year high of $69.85. The firm has a market cap of $21.34 billion, a price-to-earnings ratio of 33.08, a PEG ratio of 1.05 and a beta of 2.05. The company has a debt-to-equity ratio of 1.78, a current ratio of 2.49 and a quick ratio of 2.49.

Carlyle Group (NASDAQ:CG) last issued its quarterly earnings results on Friday, February 6th. The financial services provider reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.03). The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.09 billion. Carlyle Group had a net margin of 16.91% and a return on equity of 23.46%. Carlyle Group’s revenue was up 84.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.92 earnings per share. As a group, sell-side analysts anticipate that Carlyle Group Inc. will post 4.48 earnings per share for the current fiscal year.

Carlyle Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 20th. Stockholders of record on Monday, February 16th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, February 13th. Carlyle Group’s dividend payout ratio is 78.21%.

Insiders Place Their Bets

In other Carlyle Group news, Director David M. Rubenstein sold 625,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $56.55, for a total transaction of $35,343,750.00. Following the sale, the director owned 27,999,644 shares in the company, 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 is accessible through the SEC website. Company insiders own 26.30% of the company’s stock.

Carlyle Group Profile

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.