The Manufacturers Life Insurance Company Takes Position in Carlyle Group Inc. $CG

The Manufacturers Life Insurance Company purchased a new stake in shares of Carlyle Group Inc. (NASDAQ:CG) during the 2nd quarter, Holdings Channel reports. The fund purchased 451,520 shares of the financial services provider’s stock, valued at approximately $19,014,000.

Several other institutional investors and hedge funds also recently bought and sold shares of CG. WFA of San Diego LLC acquired a new stake in shares of Carlyle Group during the second quarter worth approximately $26,000. Main Street Group LTD acquired a new position in Carlyle Group in the 1st quarter valued at approximately $27,000. Geneos Wealth Management Inc. boosted 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 valued at $28,000 after buying an additional 574 shares during the period. Quarry LP purchased a new position in shares of Carlyle Group during the 3rd quarter valued at $33,000. Finally, Allworth Financial LP acquired a new position in shares of Carlyle Group in the second quarter worth $35,000. Hedge funds and other institutional investors own 55.88% of the company’s stock.

Carlyle Group Price Performance

NASDAQ CG opened at $49.24 on Friday. Carlyle Group Inc. has a fifty-two week low of $39.60 and a fifty-two week high of $69.85. The stock’s 50-day moving average is $45.98 and its two-hundred day moving average is $47.71. The firm has a market cap of $17.55 billion, a P/E ratio of 51.29, a price-to-earnings-growth ratio of 1.50 and a beta of 1.83. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.35 and a quick ratio of 2.35.

Carlyle Group (NASDAQ:CG) last released its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.16. Carlyle Group had a return on equity of 22.52% and a net margin of 10.08%.The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $923.50 million. During the same quarter in the prior year, the company posted $0.87 EPS. The firm’s revenue was down 28.6% on a year-over-year basis. On average, analysts anticipate that Carlyle Group Inc. will post 3.69 earnings per share for the current fiscal year.

Carlyle Group Dividend Announcement

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

Analyst Ratings Changes

CG has been the subject of a number of research reports. Citizens Jmp lifted their price objective on Carlyle Group from $70.00 to $73.00 and gave the company a “market outperform” rating in a research report on Thursday, August 6th. 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 note on Thursday, August 6th. Morgan Stanley set a $57.00 price target on Carlyle Group in a research note on Tuesday, July 21st. TD Cowen reaffirmed a “hold” rating on shares of Carlyle Group in a research report on Thursday, August 6th. Finally, UBS Group lifted their target price on shares of Carlyle Group from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Seven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $59.31.

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.