Principal Financial Group Inc. Boosts Holdings in Carlyle Group Inc. $CG

Principal Financial Group Inc. raised its stake in shares of Carlyle Group Inc. (NASDAQ:CG) by 3.8% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 579,076 shares of the financial services provider’s stock after acquiring an additional 21,027 shares during the period. Principal Financial Group Inc.’s holdings in Carlyle Group were worth $28,021,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. WFA of San Diego LLC purchased a new position in Carlyle Group during the second quarter valued at approximately $26,000. Geneos Wealth Management Inc. grew 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 purchasing an additional 574 shares during the period. Bernard Wealth Management Corp. purchased a new position in shares of Carlyle Group during the 4th quarter valued at approximately $30,000. Quarry LP acquired a new position in shares of Carlyle Group in the 3rd quarter valued at $33,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in Carlyle Group during the third quarter worth $41,000. 55.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Cfra downgraded shares of Carlyle Group to a “sell” rating and set a $45.00 price objective for the company. in a research report on Friday, May 8th. Weiss Ratings upgraded Carlyle Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, July 6th. JPMorgan Chase & Co. lowered their price target on Carlyle Group from $66.00 to $63.00 and set a “neutral” rating on the stock in a research report on Friday, May 8th. Royal Bank Of Canada cut their price objective on Carlyle Group from $58.00 to $56.00 and set a “sector perform” rating for the company in a research report on Monday, July 13th. Finally, Wall Street Zen lowered Carlyle Group from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Carlyle Group has a consensus rating of “Hold” and an average target price of $60.71.

Carlyle Group Stock Performance

Shares of CG opened at $46.07 on Monday. Carlyle Group Inc. has a 52-week low of $39.60 and a 52-week high of $69.85. The stock has a market cap of $16.58 billion, a PE ratio of 31.55, a price-to-earnings-growth ratio of 1.54 and a beta of 1.84. The firm’s fifty day moving average is $44.86 and its two-hundred day moving average is $50.62. 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 posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.02). Carlyle Group had a return on equity of 20.95% and a net margin of 13.46%.The business had revenue of $750.90 million during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the business posted $1.14 earnings per share. The business’s quarterly revenue was down 28.0% on a year-over-year basis. Research analysts forecast that Carlyle Group Inc. will post 3.9 earnings per share for the current fiscal year.

Carlyle Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Monday, May 18th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Monday, May 18th. Carlyle Group’s payout ratio is currently 95.89%.

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.