Envestnet Asset Management Inc. Sells 9,571 Shares of Carlyle Group Inc. $CG

Envestnet Asset Management Inc. cut its position in shares of Carlyle Group Inc. (NASDAQ:CG) by 1.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 623,564 shares of the financial services provider’s stock after selling 9,571 shares during the period. Envestnet Asset Management Inc. owned approximately 0.17% of Carlyle Group worth $39,097,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CG. Allianz Asset Management GmbH grew its holdings in shares of Carlyle Group by 13.0% in the third quarter. Allianz Asset Management GmbH now owns 9,362 shares of the financial services provider’s stock valued at $587,000 after purchasing an additional 1,079 shares in the last quarter. Callan Family Office LLC bought a new position in Carlyle Group during the third quarter valued at $226,000. Atlantic Union Bankshares Corp grew its stake in shares of Carlyle Group by 46.2% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 3,746 shares of the financial services provider’s stock worth $231,000 after buying an additional 1,184 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Carlyle Group by 24.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 7,667 shares of the financial services provider’s stock valued at $490,000 after buying an additional 1,518 shares in the last quarter. Finally, Oakworth Capital Inc. bought a new position in shares of Carlyle Group in the 3rd quarter valued at about $44,000. 55.88% of the stock is owned by hedge funds and other institutional investors.

Carlyle Group Trading Down 2.6%

CG opened at $57.68 on Wednesday. Carlyle Group Inc. has a one year low of $33.02 and a one year high of $69.85. The company has a debt-to-equity ratio of 1.78, a quick ratio of 2.49 and a current ratio of 2.49. The stock has a market cap of $20.79 billion, a price-to-earnings ratio of 32.23, a P/E/G ratio of 1.06 and a beta of 2.05. The stock’s 50 day moving average price is $60.65 and its 200-day moving average price is $60.27.

Carlyle Group (NASDAQ:CG) last posted its quarterly earnings data on Friday, February 6th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.03). Carlyle Group had a net margin of 16.91% and a return on equity of 23.46%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the firm earned $0.92 EPS. Carlyle Group’s revenue was up 84.1% compared to the same quarter last year. On average, equities analysts forecast that Carlyle Group Inc. will post 4.48 EPS for the current year.

Carlyle Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Monday, February 16th will be issued a dividend of $0.35 per share. The ex-dividend date is Friday, February 13th. This represents a $1.40 dividend on an annualized basis and a yield of 2.4%. Carlyle Group’s dividend payout ratio (DPR) is presently 78.21%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CG shares. Barclays boosted their price objective on Carlyle Group from $65.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday. JPMorgan Chase & Co. boosted their target price on Carlyle Group from $66.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday. Wolfe Research restated an “outperform” rating on shares of Carlyle Group in a research report on Wednesday, January 7th. Morgan Stanley set a $71.00 price objective on shares of Carlyle Group in a research report on Tuesday, January 27th. Finally, Citigroup lowered their target price on shares of Carlyle Group from $74.00 to $71.00 and set a “buy” rating for the company in a report on Monday, November 3rd. Seven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $68.08.

Insider Buying and Selling

In other news, Director David M. Rubenstein sold 625,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $56.55, for a total transaction of $35,343,750.00. Following the transaction, the director directly owned 27,999,644 shares of the company’s stock, valued at approximately $1,583,379,868.20. This trade represents a 2.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 26.30% of the stock is owned by corporate insiders.

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.