Onyx Bridge Wealth Group LLC Invests $1.56 Million in Carlyle Group Inc. $CG

Onyx Bridge Wealth Group LLC purchased a new stake in Carlyle Group Inc. (NASDAQ:CG) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 24,951 shares of the financial services provider’s stock, valued at approximately $1,564,000.

Several other hedge funds have also recently modified their holdings of the stock. Generali Asset Management SPA SGR purchased a new position in shares of Carlyle Group during the third quarter worth $1,913,000. New York State Common Retirement Fund grew its position in Carlyle Group by 16.3% during the 3rd quarter. New York State Common Retirement Fund now owns 207,395 shares of the financial services provider’s stock worth $13,004,000 after purchasing an additional 29,000 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Carlyle Group in the 2nd quarter valued at about $236,000. Galvin Gaustad & Stein LLC boosted its stake in shares of 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 worth $14,612,000 after buying an additional 82,094 shares during the last quarter. Finally, FFG Partners LLC acquired a new stake in Carlyle Group during the third quarter worth about $1,713,000. Institutional investors and hedge funds own 55.88% of the company’s stock.

Carlyle Group Stock Performance

CG opened at $53.54 on Thursday. The firm’s fifty day simple moving average is $60.61 and its two-hundred day simple moving average is $60.22. Carlyle Group Inc. has a 52-week low of $33.02 and a 52-week high of $69.85. The company has a market cap of $19.30 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 1.12 and a beta of 2.05. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 1.78.

Carlyle Group (NASDAQ:CG) last released 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 analyst estimates of $1.09 billion. Carlyle Group had a return on equity of 23.98% and a net margin of 16.92%.The firm’s revenue for the quarter was up 84.1% on a year-over-year basis. During the same quarter last year, the company earned $0.92 EPS. Equities analysts anticipate that Carlyle Group Inc. will post 4.48 earnings per share for the current fiscal year.

Carlyle Group Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.6%. Carlyle Group’s payout ratio is currently 78.21%.

Wall Street Analyst Weigh In

Several research firms have commented on CG. JPMorgan Chase & Co. upped their price objective on Carlyle Group from $66.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday. Keefe, Bruyette & Woods decreased their target price on shares of Carlyle Group from $66.00 to $64.00 and set a “market perform” rating for the company in a research note on Monday, November 3rd. Morgan Stanley set a $71.00 price target on shares of Carlyle Group in a research report on Tuesday, January 27th. 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, TD Cowen restated a “buy” rating on shares of Carlyle Group in a research report on Wednesday, January 14th. Seven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $68.08.

Insider Buying and Selling

In related news, Director David M. Rubenstein sold 625,000 shares of the stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $56.55, for a total value of $35,343,750.00. Following the completion of the transaction, the director directly owned 27,999,644 shares of the company’s stock, valued at approximately $1,583,379,868.20. This represents a 2.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 26.30% of the company’s stock.

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.