First Trust Advisors LP Reduces Stock Position in Carlyle Group Inc. $CG

First Trust Advisors LP decreased its position in shares of Carlyle Group Inc. (NASDAQ:CG) by 75.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,780 shares of the financial services provider’s stock after selling 165,064 shares during the quarter. First Trust Advisors LP’s holdings in Carlyle Group were worth $2,554,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. WFA of San Diego LLC purchased a new stake in Carlyle Group during the second quarter worth $26,000. Main Street Group LTD purchased a new position in shares of Carlyle Group in the first quarter valued at $27,000. Geneos Wealth Management Inc. raised its stake in shares of Carlyle Group by 755.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 650 shares of the financial services provider’s stock worth $28,000 after buying an additional 574 shares during the last quarter. Quarry LP purchased a new stake in shares of Carlyle Group in the 3rd quarter worth about $33,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in Carlyle Group in the 3rd quarter valued at about $41,000. 55.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CG has been the topic of several recent research reports. Morgan Stanley set a $57.00 price target on shares of Carlyle Group in a report on Tuesday, July 21st. Citizens Jmp lifted their price target on shares of Carlyle Group from $70.00 to $73.00 and gave the stock a “market outperform” rating in a report on Thursday. Evercore set a $51.00 price objective on shares of Carlyle Group in a research note on Thursday. Royal Bank Of Canada lowered their target price on shares of Carlyle Group from $58.00 to $56.00 and set a “sector perform” rating for the company in a research note on Monday, July 13th. Finally, Wall Street Zen lowered Carlyle Group from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Seven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $59.79.

Carlyle Group Trading Down 2.2%

NASDAQ CG opened at $47.79 on Friday. The company has a market cap of $17.20 billion, a P/E ratio of 49.78, a P/E/G ratio of 1.73 and a beta of 1.83. Carlyle Group Inc. has a 12 month low of $39.60 and a 12 month high of $69.85. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.35 and a quick ratio of 2.55. The company has a 50-day moving average of $44.79 and a 200-day moving average of $48.92.

Carlyle Group (NASDAQ:CG) last released its earnings results on Tuesday, August 4th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.16. Carlyle Group had a net margin of 10.08% and a return on equity of 22.52%. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $923.50 million. During the same period in the previous year, the firm earned $0.87 earnings per share. Carlyle Group’s revenue was down 28.6% compared to the same quarter last year. As a group, equities analysts predict that Carlyle Group Inc. will post 3.68 earnings per share for the current year.

Carlyle Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Monday, August 17th will be issued a $0.35 dividend. The ex-dividend date is Monday, August 17th. This represents a $1.40 dividend on an annualized basis and a yield of 2.9%. Carlyle Group’s dividend payout ratio (DPR) is presently 145.83%.

More Carlyle Group News

Here are the key news stories impacting Carlyle Group this week:

• Positive Sentiment: Q2 earnings and revenue exceeded expectations. Carlyle reported adjusted earnings of $1.07 per share versus the $0.91 consensus estimate, while revenue reached $1.11 billion, above expectations of approximately $924 million. Higher assets under management and performance revenues helped results, although expenses also increased year over year. Carlyle Q2 earnings report
• Positive Sentiment: Strategic partnership expands Carlyle’s credit business. Carlyle’s Global Credit platform will provide approximately $600 million in hybrid capital to Prime Capital Financial and receive a minority ownership interest. The deal gives Carlyle exposure to Prime’s future growth and values the financial-services company at more than $1.8 billion. Prime Capital Financial partnership announcement
• Positive Sentiment: Analyst price targets increased. Citizens JMP raised its target to $73 from $70 and maintained an outperform rating. Keefe, Bruyette & Woods also lifted its target to $50 from $47, though it retained a market-perform rating.
• Positive Sentiment: Quarterly dividend maintained. Carlyle declared a $0.35-per-share dividend, payable August 26 to shareholders of record August 17, supporting the stock’s income appeal with an indicated yield of about 2.9%.
• Neutral Sentiment: Carlyle Secured Lending posted additional beats. The affiliated lending company reported non-GAAP net investment income of $0.35 per share and total investment income of $62.09 million, both above estimates, and maintained its quarterly dividend. The direct effect on Carlyle Group’s consolidated results is limited.
• Negative Sentiment: KBW remains at Hold. The reaffirmed cautious rating suggests the firm sees limited near-term upside after the recent advance. Carlyle’s elevated valuation and year-over-year revenue decline remain potential concerns, offsetting the earnings beat and growth initiatives. KBW rating update

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.