Royal Bank of Canada Increases Stock Holdings in Carlyle Group Inc. $CG

Royal Bank of Canada boosted its holdings in shares of Carlyle Group Inc. (NASDAQ:CG) by 116.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 883,679 shares of the financial services provider’s stock after buying an additional 474,667 shares during the period. Royal Bank of Canada’s holdings in Carlyle Group were worth $42,761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of CG. AQR Capital Management LLC boosted its stake in Carlyle Group by 937.5% in the 1st quarter. AQR Capital Management LLC now owns 57,335 shares of the financial services provider’s stock worth $2,499,000 after purchasing an additional 51,809 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Carlyle Group by 40.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,144,974 shares of the financial services provider’s stock valued at $49,909,000 after purchasing an additional 332,533 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Carlyle Group by 3.4% in the first quarter. Empowered Funds LLC now owns 48,237 shares of the financial services provider’s stock worth $2,103,000 after buying an additional 1,579 shares during the last quarter. Focus Partners Wealth lifted its stake in shares of Carlyle Group by 27.4% during the first quarter. Focus Partners Wealth now owns 5,434 shares of the financial services provider’s stock worth $237,000 after buying an additional 1,169 shares during the period. Finally, Geneos Wealth Management Inc. increased its position in shares of Carlyle Group by 755.3% in 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 during the period. Hedge funds and other institutional investors own 55.88% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on CG shares. The Goldman Sachs Group lowered their price target on Carlyle Group from $81.00 to $69.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. TD Cowen reduced their price objective on Carlyle Group from $53.00 to $50.00 and set a “hold” rating for the company in a research note on Monday, May 18th. Cfra lowered Carlyle Group to a “sell” rating and set a $45.00 target price on the stock. in a research report on Friday, May 8th. BMO Capital Markets reissued an “outperform” rating and set a $52.00 price target on shares of Carlyle Group in a research report on Monday, July 13th. Finally, Barclays dropped their price objective on shares of Carlyle Group from $63.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. Seven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Carlyle Group has a consensus rating of “Hold” and a consensus target price of $60.07.

Carlyle Group Price Performance

Shares of CG opened at $46.02 on Monday. The company has a market capitalization of $16.57 billion, a price-to-earnings ratio of 31.52, a PEG ratio of 1.61 and a beta of 1.82. Carlyle Group Inc. has a 52 week low of $39.60 and a 52 week high of $69.85. The stock’s 50-day moving average price is $44.41 and its 200-day moving average price is $49.38. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 1.92.

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 analysts’ consensus estimates of $0.91 by ($0.02). Carlyle Group had a net margin of 13.46% and a return on equity of 20.95%. The company had revenue of $750.90 million during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the firm posted $1.14 earnings per share. The company’s revenue was down 28.0% compared to the same quarter last year. On average, sell-side analysts predict that Carlyle Group Inc. will post 3.71 EPS for the current year.

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.