Carlyle Group Inc. $CG Shares Sold by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. lessened its holdings in Carlyle Group Inc. (NASDAQ:CG) by 2.9% during the 2nd quarter, Holdings Channel reports. The firm owned 2,771,630 shares of the financial services provider’s stock after selling 81,569 shares during the quarter. Beutel Goodman & Co Ltd.’s holdings in Carlyle Group were worth $142,461,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in Carlyle Group during the 2nd quarter valued at $150,122,000. Vanguard Group Inc. lifted its position in shares of Carlyle Group by 4.9% in the first quarter. Vanguard Group Inc. now owns 24,292,937 shares of the financial services provider’s stock valued at $1,058,929,000 after acquiring an additional 1,131,514 shares in the last quarter. Citigroup Inc. increased its position in Carlyle Group by 484.4% during the 1st quarter. Citigroup Inc. now owns 623,440 shares of the financial services provider’s stock worth $27,176,000 after purchasing an additional 516,761 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Carlyle Group by 21.7% in the 1st quarter. Ameriprise Financial Inc. now owns 2,722,737 shares of the financial services provider’s stock valued at $118,684,000 after purchasing an additional 485,488 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Carlyle Group during the 1st quarter worth about $20,793,000. 55.88% of the stock is currently owned by institutional investors and hedge funds.

Carlyle Group Stock Performance

NASDAQ CG opened at $56.30 on Friday. The company has a debt-to-equity ratio of 1.78, a current ratio of 2.49 and a quick ratio of 2.49. Carlyle Group Inc. has a 1-year low of $33.02 and a 1-year high of $69.85. The firm has a market capitalization of $20.29 billion, a P/E ratio of 31.45, a P/E/G ratio of 1.40 and a beta of 2.06. The business’s 50-day simple moving average is $56.31 and its 200-day simple moving average is $56.88.

Carlyle Group (NASDAQ:CG) last posted its earnings results on Friday, November 7th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.98. The firm had revenue of $782.50 million during the quarter, compared to the consensus estimate of $848.51 million. Carlyle Group had a net margin of 16.91% and a return on equity of 23.46%. During the same quarter in the prior year, the company earned $0.95 EPS. Equities analysts predict that Carlyle Group Inc. will post 4.48 EPS for the current year.

Carlyle Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Monday, November 10th were issued a dividend of $0.35 per share. The ex-dividend date was Monday, November 10th. This represents a $1.40 annualized dividend and a dividend yield of 2.5%. Carlyle Group’s payout ratio is presently 78.21%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CG shares. TD Cowen cut their price objective on shares of Carlyle Group from $78.00 to $77.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Keefe, Bruyette & Woods cut their price target on Carlyle Group from $66.00 to $64.00 and set a “market perform” rating for the company in a report on Monday, November 3rd. Wall Street Zen cut Carlyle Group from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Evercore ISI dropped their target price on Carlyle Group from $64.00 to $57.00 and set an “in-line” rating for the company in a research note on Monday, November 3rd. Finally, Morgan Stanley raised their price target on Carlyle Group from $65.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 21st. Seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Carlyle Group has an average rating of “Hold” and an average target price of $66.00.

Carlyle Group 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.