Bank of America Corp DE Raises Holdings in The Carlyle Group Inc. (NASDAQ:CG)

Bank of America Corp DE raised its holdings in shares of The Carlyle Group Inc. (NASDAQ:CGGet Rating) by 37.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,748,292 shares of the financial services provider’s stock after purchasing an additional 747,040 shares during the period. Bank of America Corp DE’s holdings in The Carlyle Group were worth $134,419,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Westside Investment Management Inc. purchased a new position in shares of The Carlyle Group in the 1st quarter worth $28,000. Burleson & Company LLC purchased a new position in shares of The Carlyle Group in the 1st quarter worth $29,000. CVA Family Office LLC boosted its stake in shares of The Carlyle Group by 257.1% in the 1st quarter. CVA Family Office LLC now owns 625 shares of the financial services provider’s stock worth $31,000 after buying an additional 450 shares during the last quarter. Parkside Investments LLC purchased a new position in shares of The Carlyle Group in the 1st quarter worth $48,000. Finally, Herold Advisors Inc. bought a new position in The Carlyle Group in the 1st quarter worth $49,000. 94.38% of the stock is currently owned by hedge funds and other institutional investors.

The Carlyle Group Trading Down 3.9 %

CG opened at $28.18 on Friday. The firm has a market cap of $10.18 billion, a P/E ratio of 5.15, a P/E/G ratio of 0.32 and a beta of 1.66. The Carlyle Group Inc. has a 12 month low of $27.83 and a 12 month high of $60.62. The company has a current ratio of 2.63, a quick ratio of 2.63 and a debt-to-equity ratio of 1.24. The stock has a 50-day moving average of $33.88 and a 200 day moving average of $37.27.

The Carlyle Group (NASDAQ:CGGet Rating) last released its quarterly earnings results on Thursday, July 28th. The financial services provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.11 by $0.06. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.17 billion. The Carlyle Group had a return on equity of 40.15% and a net margin of 31.86%. As a group, research analysts forecast that The Carlyle Group Inc. will post 4.03 EPS for the current year.

The Carlyle Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 16th. Shareholders of record on Tuesday, August 9th were given a dividend of $0.325 per share. The ex-dividend date of this dividend was Monday, August 8th. This represents a $1.30 annualized dividend and a dividend yield of 4.61%. The Carlyle Group’s dividend payout ratio (DPR) is presently 23.77%.

Insider Buying and Selling at The Carlyle Group

In other The Carlyle Group news, major shareholder Carlyle Group Inc. sold 9,925 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $20.25, for a total transaction of $200,981.25. Following the completion of the transaction, the insider now owns 2,960,231 shares in the company, valued at $59,944,677.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other The Carlyle Group news, major shareholder Carlyle Group Inc. sold 9,925 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $20.25, for a total transaction of $200,981.25. Following the completion of the transaction, the insider now owns 2,960,231 shares in the company, valued at $59,944,677.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bruce M. Larson sold 8,743 shares of The Carlyle Group stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $37.85, for a total transaction of $330,922.55. Following the sale, the insider now directly owns 189,712 shares of the company’s stock, valued at approximately $7,180,599.20. The disclosure for this sale can be found here. Insiders sold 630,787 shares of company stock worth $29,311,622 over the last 90 days. Company insiders own 29.80% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on CG. Royal Bank of Canada decreased their target price on The Carlyle Group from $15.00 to $11.00 and set an “outperform” rating on the stock in a report on Thursday, August 11th. Morgan Stanley raised their target price on The Carlyle Group from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 2nd. The Goldman Sachs Group decreased their target price on The Carlyle Group from $58.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday, June 29th. Bank of America cut The Carlyle Group from a “buy” rating to an “underperform” rating and decreased their price target for the company from $58.00 to $33.00 in a report on Tuesday, September 6th. Finally, Jefferies Financial Group cut The Carlyle Group from a “buy” rating to a “hold” rating and decreased their price target for the company from $55.00 to $38.00 in a report on Tuesday, August 9th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $44.46.

The Carlyle Group Profile

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The Carlyle Group Inc is an investment firm specializing in direct and fund of fund investments. Within direct investments, it specializes in management-led/ Leveraged buyouts, privatizations, divestitures, strategic minority equity investments, structured credit, global distressed and corporate opportunities, small and middle market, equity private placements, consolidations and buildups, senior debt, mezzanine and leveraged finance, and venture and growth capital financings, seed/startup, early venture, emerging growth, turnaround, mid venture, late venture, PIPES.

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Institutional Ownership by Quarter for The Carlyle Group (NASDAQ:CG)

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