LPL Financial LLC Sells 11,026 Shares of The Carlyle Group Inc. (NASDAQ:CG)

LPL Financial LLC lessened its stake in shares of The Carlyle Group Inc. (NASDAQ:CG – Get Rating) by 11.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 85,055 shares of the financial services provider’s stock after selling 11,026 shares during the period. LPL Financial LLC’s holdings in The Carlyle Group were worth $2,538,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Column Capital Advisors LLC boosted its holdings in shares of The Carlyle Group by 477.0% during the 4th quarter. Column Capital Advisors LLC now owns 1,154 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 954 shares in the last quarter. Ameliora Wealth Management Ltd. acquired a new position in The Carlyle Group during the 3rd quarter worth about $38,000. Concord Wealth Partners acquired a new position in The Carlyle Group during the 4th quarter worth about $60,000. Larson Financial Group LLC acquired a new position in The Carlyle Group during the 3rd quarter worth about $63,000. Finally, American International Group Inc. lifted its holdings in The Carlyle Group by 27.6% during the 2nd quarter. American International Group Inc. now owns 2,166 shares of the financial services provider’s stock worth $69,000 after buying an additional 468 shares during the period. Institutional investors own 52.69% of the company’s stock.

The Carlyle Group Trading Down 0.1 %

NASDAQ:CG opened at $27.30 on Friday. The company has a market cap of $9.89 billion, a P/E ratio of 13.19 and a beta of 1.67. The Carlyle Group Inc. has a 1 year low of $24.59 and a 1 year high of $40.73. The stock’s fifty day moving average price is $29.35 and its two-hundred day moving average price is $31.03. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.82 and a quick ratio of 2.80.

The Carlyle Group (NASDAQ:CG – Get Rating) last released its quarterly earnings results on Thursday, May 4th. The financial services provider reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.02). The firm had revenue of $754.20 million during the quarter, compared to the consensus estimate of $805.50 million. The Carlyle Group had a return on equity of 25.89% and a net margin of 20.29%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.74 EPS. As a group, analysts expect that The Carlyle Group Inc. will post 3.01 EPS for the current year.

The Carlyle Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 23rd. Investors of record on Tuesday, May 16th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date of this dividend is Monday, May 15th. This is a boost from The Carlyle Group’s previous quarterly dividend of $0.33. The Carlyle Group’s dividend payout ratio is currently 67.63%.

Insider Activity at The Carlyle Group

In other The Carlyle Group news, major shareholder Carlyle Group Inc. sold 2,000,000 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $86.12, for a total transaction of $172,240,000.00. Following the completion of the sale, the insider now directly owns 6,482,732 shares in the company, valued at $558,292,879.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 27.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Morgan Stanley lowered their price objective on The Carlyle Group from $37.00 to $35.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 19th. Bank of America decreased their target price on The Carlyle Group from $34.00 to $33.00 and set an “underperform” rating for the company in a research report on Wednesday, April 5th. Piper Sandler decreased their price objective on The Carlyle Group from $46.00 to $42.00 in a report on Thursday. Citigroup began coverage on The Carlyle Group in a research note on Thursday. They issued a “buy” rating and a $40.00 target price on the stock. Finally, The Goldman Sachs Group boosted their target price on The Carlyle Group from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, February 9th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.18.

About The Carlyle Group

(Get Rating)

The Carlyle Group, Inc engages in multi-product global alternative asset management. It operates through the following segments: Corporate Private Equity, Real Assets, Global Credit, and Investment Solutions. The Corporate Private Equity segment focuses on buyout, and growth capital funds, which pursue a variety of corporate investments of different sizes and growth potentials.