Friedenthal Financial Buys New Position in Carlyle Group Inc. $CG

Friedenthal Financial purchased a new position in shares of Carlyle Group Inc. (NASDAQ:CG) during the third quarter, Holdings Channel.com reports. The fund purchased 14,847 shares of the financial services provider’s stock, valued at approximately $931,000.

Several other large investors have also recently added to or reduced their stakes in the business. DAVENPORT & Co LLC boosted its position in Carlyle Group by 6.2% in the 3rd quarter. DAVENPORT & Co LLC now owns 13,525 shares of the financial services provider’s stock valued at $848,000 after buying an additional 794 shares during the period. Monument Capital Management purchased a new position in Carlyle Group in the third quarter valued at $249,000. Yousif Capital Management LLC increased its holdings in Carlyle Group by 12.4% during the 3rd quarter. Yousif Capital Management LLC now owns 84,209 shares of the financial services provider’s stock worth $5,280,000 after purchasing an additional 9,302 shares during the period. Farther Finance Advisors LLC raised its position in Carlyle Group by 55.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,789 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 639 shares in the last quarter. Finally, Sound Income Strategies LLC boosted its stake in shares of Carlyle Group by 2.5% in the 3rd quarter. Sound Income Strategies LLC now owns 91,892 shares of the financial services provider’s stock valued at $5,431,000 after buying an additional 2,225 shares during the period. 55.88% of the stock is owned by hedge funds and other institutional investors.

Carlyle Group Stock Down 1.2%

CG opened at $60.92 on Wednesday. The stock has a market capitalization of $21.96 billion, a P/E ratio of 34.03, a price-to-earnings-growth ratio of 1.33 and a beta of 2.06. The company has a debt-to-equity ratio of 1.78, a quick ratio of 2.49 and a current ratio of 2.49. Carlyle Group Inc. has a one year low of $33.02 and a one year high of $69.85. The business’s 50-day simple moving average is $55.66 and its 200-day simple moving average is $58.26.

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

Carlyle Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Monday, November 10th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Monday, November 10th. Carlyle Group’s dividend payout ratio (DPR) is presently 78.21%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Morgan Stanley raised their target price on shares of Carlyle Group from $65.00 to $67.00 and gave the company an “equal weight” rating in a report on Tuesday, October 21st. BMO Capital Markets initiated coverage on shares of Carlyle Group in a report on Friday, October 3rd. They issued an “outperform” rating and a $74.00 price objective on the stock. UBS Group started coverage on shares of Carlyle Group in a research note on Thursday, December 11th. They set a “buy” rating and a $74.00 target price for the company. JPMorgan Chase & Co. lowered their price objective on Carlyle Group from $68.00 to $66.00 and set a “neutral” rating for the company in a research report on Monday, November 3rd. Finally, Citigroup cut their target price on Carlyle Group from $74.00 to $71.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. Eight investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Carlyle Group currently has an average rating of “Hold” and a consensus target price of $66.14.

Insider Buying and Selling

In other news, Director David M. Rubenstein sold 625,000 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $56.55, for a total value of $35,343,750.00. Following the completion of the sale, the director directly owned 27,999,644 shares of the company’s stock, valued at approximately $1,583,379,868.20. This represents a 2.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 26.30% of the company’s stock.

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.