Carlyle Group Inc. $CG Shares Bought by State of Michigan Retirement System

State of Michigan Retirement System increased its stake in Carlyle Group Inc. (NASDAQ:CG) by 21.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,000 shares of the financial services provider’s stock after purchasing an additional 10,800 shares during the quarter. State of Michigan Retirement System’s holdings in Carlyle Group were worth $3,887,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Allworth Financial LP lifted its position in shares of Carlyle Group by 150.3% during the 2nd quarter. Allworth Financial LP now owns 498 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 299 shares during the period. WFA of San Diego LLC acquired a new stake in Carlyle Group in the 2nd quarter valued at about $26,000. Geneos Wealth Management Inc. increased its holdings in Carlyle Group by 755.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 650 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 574 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Carlyle Group in the second quarter valued at about $38,000. Finally, Motco acquired a new stake in shares of Carlyle Group in the third quarter valued at approximately $40,000. Hedge funds and other institutional investors own 55.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CG shares. Citigroup cut their price target on Carlyle Group from $74.00 to $71.00 and set a “buy” rating for the company in a report on Monday, November 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Carlyle Group in a report on Wednesday, January 21st. Barclays raised their price target on shares of Carlyle Group from $65.00 to $71.00 and gave the company an “overweight” rating in a report on Monday. TD Cowen reiterated a “buy” rating on shares of Carlyle Group in a research note on Wednesday, January 14th. Finally, Wolfe Research reissued an “outperform” rating on shares of Carlyle Group in a research note on Wednesday, January 7th. Seven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $68.08.

Carlyle Group Price Performance

Shares of Carlyle Group stock opened at $57.68 on Wednesday. Carlyle Group Inc. has a 1-year low of $33.02 and a 1-year high of $69.85. The firm has a fifty day simple moving average of $60.65 and a 200-day simple moving average of $60.27. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 1.78. The stock has a market capitalization of $20.79 billion, a price-to-earnings ratio of 32.23, a PEG ratio of 1.06 and a beta of 2.05.

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

Carlyle Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 20th. Shareholders of record on Monday, February 16th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.40 dividend on an annualized basis and a yield of 2.4%. Carlyle Group’s dividend payout ratio (DPR) is 78.21%.

Insider Buying and Selling

In other news, Director David M. Rubenstein sold 625,000 shares of the company’s 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 transaction, the director directly owned 27,999,644 shares in the company, valued at $1,583,379,868.20. The trade was a 2.18% decrease in their ownership of the stock. The sale was disclosed in a 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 Company 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.