The Carlyle Group Inc. (NASDAQ:CG – Get Free Report) was the target of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 16,870,000 shares, an increase of 9.3% from the October 15th total of 15,440,000 shares. Approximately 8.8% of the shares of the company are short sold. Based on an average daily trading volume, of 2,130,000 shares, the short-interest ratio is currently 7.9 days.
Wall Street Analyst Weigh In
CG has been the subject of several research reports. JMP Securities restated a “market outperform” rating and set a $52.00 price objective on shares of The Carlyle Group in a research report on Thursday, August 17th. Piper Sandler dropped their price target on The Carlyle Group from $42.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, August 3rd. Wolfe Research initiated coverage on The Carlyle Group in a research note on Wednesday, October 4th. They set a “market perform” rating for the company. Jefferies Financial Group cut their target price on The Carlyle Group from $35.00 to $31.00 in a research report on Tuesday, October 10th. Finally, StockNews.com began coverage on The Carlyle Group in a research note on Thursday, October 5th. They issued a “sell” rating on the stock. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $39.13.
The Carlyle Group Stock Up 1.3 %
The Carlyle Group (NASDAQ:CG – Get Free Report) last released its quarterly earnings results on Tuesday, November 7th. The financial services provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.15. The Carlyle Group had a net margin of 7.65% and a return on equity of 19.43%. The company had revenue of $776.60 million for the quarter, compared to analyst estimates of $835.81 million. During the same quarter last year, the firm posted $1.42 earnings per share. The company’s quarterly revenue was down 44.6% compared to the same quarter last year. As a group, sell-side analysts predict that The Carlyle Group will post 3.07 EPS for the current year.
The Carlyle Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 29th. Stockholders of record on Tuesday, November 21st will be given a $0.35 dividend. The ex-dividend date is Monday, November 20th. This represents a $1.40 annualized dividend and a dividend yield of 4.40%. The Carlyle Group’s dividend payout ratio is 241.38%.
Insider Transactions at The Carlyle Group
In other The Carlyle Group news, major shareholder Subsidiary Holdings L.L.C. Cg purchased 1,269,537 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was bought at an average price of $8.52 per share, with a total value of $10,816,455.24. Following the completion of the purchase, the insider now owns 4,785,628 shares in the company, valued at approximately $40,773,550.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 27.00% of the company’s stock.
Institutional Trading of The Carlyle Group
A number of hedge funds have recently bought and sold shares of the stock. Morgan Stanley grew its holdings in shares of The Carlyle Group by 11.3% during the 4th quarter. Morgan Stanley now owns 24,697,730 shares of the financial services provider’s stock worth $736,980,000 after purchasing an additional 2,514,895 shares in the last quarter. Vanguard Group Inc. increased its holdings in The Carlyle Group by 6.0% in the 3rd quarter. Vanguard Group Inc. now owns 24,132,777 shares of the financial services provider’s stock valued at $623,591,000 after buying an additional 1,376,229 shares during the period. BlackRock Inc. raised its stake in shares of The Carlyle Group by 18.0% in the 2nd quarter. BlackRock Inc. now owns 21,914,066 shares of the financial services provider’s stock valued at $700,154,000 after buying an additional 3,340,328 shares in the last quarter. Capital World Investors boosted its position in shares of The Carlyle Group by 47.3% during the 2nd quarter. Capital World Investors now owns 18,654,540 shares of the financial services provider’s stock valued at $596,013,000 after acquiring an additional 5,993,196 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its stake in The Carlyle Group by 196,221.1% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 14,724,084 shares of the financial services provider’s stock valued at $470,434,000 after acquiring an additional 14,716,584 shares during the period. 55.88% of the stock is owned by institutional investors.
The Carlyle Group Company Profile
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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