Franklin Street Advisors Inc. NC Sells 102,899 Shares of Carlyle Group Inc. $CG

Franklin Street Advisors Inc. NC lessened its stake in shares of Carlyle Group Inc. (NASDAQ:CG) by 15.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 560,327 shares of the financial services provider’s stock after selling 102,899 shares during the period. Carlyle Group makes up approximately 1.3% of Franklin Street Advisors Inc. NC’s portfolio, making the stock its 27th biggest position. Franklin Street Advisors Inc. NC’s holdings in Carlyle Group were worth $23,595,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CG. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Carlyle Group by 10.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 10,322 shares of the financial services provider’s stock valued at $435,000 after acquiring an additional 972 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Carlyle Group in the second quarter valued at about $11,127,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Carlyle Group by 36.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 962 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 258 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Carlyle Group by 27.1% during the first quarter. Empowered Funds LLC now owns 15,199 shares of the financial services provider’s stock worth $735,000 after purchasing an additional 3,237 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in Carlyle Group by 40.0% in the 1st quarter. NewEdge Advisors LLC now owns 23,290 shares of the financial services provider’s stock valued at $1,127,000 after buying an additional 6,658 shares during the last quarter. 55.88% of the stock is currently owned by institutional investors.

Carlyle Group Stock Performance

NASDAQ:CG opened at $47.79 on Monday. Carlyle Group Inc. has a 52 week low of $39.60 and a 52 week high of $69.85. The company has a debt-to-equity ratio of 1.91, a quick ratio of 2.55 and a current ratio of 2.35. The firm’s fifty day moving average is $44.79 and its 200-day moving average is $48.80. The firm has a market cap of $17.20 billion, a P/E ratio of 49.78, a P/E/G ratio of 1.77 and a beta of 1.83.

Carlyle Group (NASDAQ:CG) last announced its earnings results on Tuesday, August 4th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.16. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $923.50 million. Carlyle Group had a net margin of 10.08% and a return on equity of 22.52%. Carlyle Group’s quarterly revenue was down 28.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.87 earnings per share. Equities analysts expect that Carlyle Group Inc. will post 3.65 earnings per share for the current year.

Carlyle Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Monday, August 17th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, August 17th. Carlyle Group’s payout ratio is currently 145.83%.

Carlyle Group News Roundup

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. UBS Group boosted their target price on shares of Carlyle Group from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday. Wall Street Zen downgraded shares of Carlyle Group from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings raised shares of Carlyle Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, July 6th. Citigroup reaffirmed an “outperform” rating on shares of Carlyle Group in a research report on Thursday. Finally, TD Cowen reiterated a “hold” rating on shares of Carlyle Group in a research report on Thursday. Seven 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. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $59.79.

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.