Wesbanco Bank Inc. Sells 126,566 Shares of Carlyle Group Inc. $CG

Wesbanco Bank Inc. lowered its stake in shares of Carlyle Group Inc. (NASDAQ:CG) by 80.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,452 shares of the financial services provider’s stock after selling 126,566 shares during the quarter. Wesbanco Bank Inc.’s holdings in Carlyle Group were worth $1,522,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Bernard Wealth Management Corp. bought a new stake in shares of Carlyle Group during the fourth quarter valued at approximately $30,000. WFA of San Diego LLC acquired a new position in Carlyle Group during the 2nd quarter worth $26,000. Quarry LP bought a new position in Carlyle Group in the 3rd quarter valued at $33,000. Brown Brothers Harriman & Co. bought a new stake in shares of Carlyle Group during the third quarter worth $41,000. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Carlyle Group by 755.3% during the first 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 during the period. 55.88% of the stock is currently owned by institutional investors and hedge funds.

Carlyle Group Stock Down 1.2%

Shares of NASDAQ CG opened at $41.40 on Friday. The firm has a 50 day moving average price of $46.73 and a 200 day moving average price of $52.30. The company has a debt-to-equity ratio of 1.92, a quick ratio of 2.55 and a current ratio of 2.55. The stock has a market cap of $14.90 billion, a P/E ratio of 28.36, a P/E/G ratio of 1.41 and a beta of 1.84. Carlyle Group Inc. has a 52-week low of $40.47 and a 52-week high of $69.85.

Carlyle Group (NASDAQ:CG) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.02). The firm had revenue of $750.90 million during the quarter, compared to analyst estimates of $1.01 billion. Carlyle Group had a net margin of 13.46% and a return on equity of 20.95%. Carlyle Group’s quarterly revenue was down 28.0% on a year-over-year basis. During the same period last year, the firm earned $1.14 EPS. Analysts expect that Carlyle Group Inc. will post 4.05 EPS for the current year.

Carlyle Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Monday, May 18th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Monday, May 18th. Carlyle Group’s dividend payout ratio is 95.89%.

Analyst Ratings Changes

A number of research firms have issued reports on CG. Royal Bank Of Canada downgraded shares of Carlyle Group from an “outperform” rating to a “sector perform” rating and set a $58.00 target price on the stock. in a research report on Monday, May 11th. BMO Capital Markets dropped their price target on shares of Carlyle Group from $65.00 to $58.00 and set an “outperform” rating for the company in a research note on Tuesday, March 24th. TD Cowen reduced their price objective on shares of Carlyle Group from $53.00 to $50.00 and set a “hold” rating on the stock in a research note on Monday, May 18th. The Goldman Sachs Group dropped their target price on shares of Carlyle Group from $81.00 to $69.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Finally, Weiss Ratings lowered Carlyle Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, June 17th. Seven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $62.00.

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.