Carlyle Group Inc. $CG Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp boosted its position in Carlyle Group Inc. (NASDAQ:CG) by 28.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 107,198 shares of the financial services provider’s stock after acquiring an additional 23,901 shares during the quarter. Fifth Third Bancorp’s holdings in Carlyle Group were worth $6,721,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Generali Asset Management SPA SGR bought a new stake in shares of Carlyle Group during the 3rd quarter valued at about $1,913,000. New York State Common Retirement Fund boosted its stake in Carlyle Group by 16.3% in the third quarter. New York State Common Retirement Fund now owns 207,395 shares of the financial services provider’s stock valued at $13,004,000 after acquiring an additional 29,000 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Carlyle Group during the 2nd quarter worth approximately $236,000. Onyx Bridge Wealth Group LLC acquired a new position in Carlyle Group during the 3rd quarter valued at approximately $1,564,000. Finally, Galvin Gaustad & Stein LLC increased its position in Carlyle Group by 54.4% in the third quarter. Galvin Gaustad & Stein LLC now owns 233,054 shares of the financial services provider’s stock worth $14,612,000 after buying an additional 82,094 shares during the period. 55.88% of the stock is owned by hedge funds and other institutional investors.

Carlyle Group Stock Performance

Shares of NASDAQ CG opened at $54.24 on Wednesday. Carlyle Group Inc. has a 1 year low of $33.02 and a 1 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 fifty day moving average price of $60.41 and a two-hundred day moving average price of $60.02. The firm has a market cap of $19.55 billion, a P/E ratio of 24.88, a PEG ratio of 1.06 and a beta of 2.05.

Carlyle Group (NASDAQ:CG) last announced its earnings results on Friday, February 6th. The financial services provider reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.03). Carlyle Group had a net margin of 16.92% and a return on equity of 23.98%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the business earned $0.92 EPS. The company’s quarterly revenue was up 84.1% compared to the same quarter last year. Research analysts forecast that Carlyle Group Inc. will post 4.48 EPS for the current fiscal year.

Carlyle Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Monday, February 16th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.40 annualized dividend and a yield of 2.6%. Carlyle Group’s dividend payout ratio is currently 64.22%.

Analysts Set New Price Targets

CG has been the subject of several recent research reports. TD Cowen restated a “buy” rating on shares of Carlyle Group in a research report on Wednesday, January 14th. UBS Group raised their price target on shares of Carlyle Group from $74.00 to $81.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Keefe, Bruyette & Woods reduced their price objective on Carlyle Group from $66.00 to $64.00 and set a “market perform” rating for the company in a research report on Monday, November 3rd. Wolfe Research restated an “outperform” rating on shares of Carlyle Group in a research report on Wednesday, January 7th. Finally, Barclays increased their price target on Carlyle Group from $65.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. Seven 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 data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $68.08.

Insiders Place Their Bets

In other Carlyle Group news, Director David M. Rubenstein sold 625,000 shares of the company’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $56.55, for a total value of $35,343,750.00. Following the transaction, the director 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.