Coastal Bridge Advisors LLC Takes $2.08 Million Position in Carlyle Group Inc. $CG

Coastal Bridge Advisors LLC acquired a new position in Carlyle Group Inc. (NASDAQ:CG) during the 2nd quarter, Holdings Channel reports. The fund acquired 49,352 shares of the financial services provider’s stock, valued at approximately $2,078,000.

Other hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in Carlyle Group by 937.5% during the first quarter. AQR Capital Management LLC now owns 57,335 shares of the financial services provider’s stock worth $2,499,000 after acquiring an additional 51,809 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Carlyle Group by 40.9% in the first 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 during the last quarter. Empowered Funds LLC increased its stake in shares of Carlyle Group by 3.4% during the 1st quarter. Empowered Funds LLC now owns 48,237 shares of the financial services provider’s stock worth $2,103,000 after purchasing an additional 1,579 shares in the last quarter. Focus Partners Wealth raised its position in shares of Carlyle Group by 27.4% during the 1st quarter. Focus Partners Wealth now owns 5,434 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 1,169 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in 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 buying an additional 574 shares in the last quarter. 55.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods raised their price target on Carlyle Group from $47.00 to $50.00 and gave the stock a “market perform” rating in a research report on Thursday, August 6th. BMO Capital Markets reaffirmed an “outperform” rating and set a $52.00 price objective on shares of Carlyle Group in a research note on Monday, July 13th. JPMorgan Chase & Co. dropped their price objective on Carlyle Group from $66.00 to $63.00 and set a “neutral” rating for the company in a research report on Friday, May 8th. Evercore set a $51.00 target price on shares of Carlyle Group in a research note on Thursday, August 6th. Finally, Wall Street Zen cut shares of Carlyle Group from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $59.31.

Carlyle Group Price Performance

Carlyle Group stock opened at $49.24 on Friday. Carlyle Group Inc. has a 1 year low of $39.60 and a 1 year high of $69.85. The company has a debt-to-equity ratio of 1.91, a quick ratio of 2.35 and a current ratio of 2.35. The firm has a 50 day moving average price of $45.98 and a 200 day moving average price of $47.71. The company has a market cap of $17.55 billion, a price-to-earnings ratio of 51.29, a PEG ratio of 1.50 and a beta of 1.83.

Carlyle Group (NASDAQ:CG) last posted its quarterly 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. Carlyle Group had a net margin of 10.08% and a return on equity of 22.52%. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $923.50 million. During the same quarter last year, the firm posted $0.87 earnings per share. Carlyle Group’s revenue was down 28.6% on a year-over-year basis. Sell-side analysts predict that Carlyle Group Inc. will post 3.69 earnings per share for the current year.

Carlyle Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Monday, August 17th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Monday, August 17th. Carlyle Group’s payout ratio is 145.83%.

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.