Carlyle Group (NASDAQ:CG) Releases Quarterly Earnings Results, Hits Estimates

Carlyle Group (NASDAQ:CG) posted its quarterly earnings results on Friday. The financial services provider reported $0.98 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.98, Zacks reports. The firm had revenue of $782.50 million for the quarter, compared to analyst estimates of $848.51 million. Carlyle Group had a net margin of 20.22% and a return on equity of 23.60%.

Carlyle Group Trading Down 0.1%

Shares of CG stock opened at $52.43 on Friday. Carlyle Group has a 1-year low of $33.02 and a 1-year high of $69.85. The firm has a market cap of $18.96 billion, a PE ratio of 15.33, a price-to-earnings-growth ratio of 1.22 and a beta of 2.01. The company has a 50-day moving average of $61.07 and a two-hundred day moving average of $55.43. The company has a debt-to-equity ratio of 1.52, a current ratio of 2.24 and a quick ratio of 2.24.

Carlyle Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 19th. Shareholders of record on Monday, November 10th will be given a $0.35 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $1.40 dividend on an annualized basis and a yield of 2.7%. Carlyle Group’s dividend payout ratio is presently 78.21%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CG shares. Barclays restated an “overweight” rating and set a $74.00 target price (up from $66.00) on shares of Carlyle Group in a report on Thursday, August 7th. JMP Securities upped their target price on Carlyle Group from $70.00 to $75.00 and gave the company a “market outperform” rating in a report on Thursday, August 14th. JPMorgan Chase & Co. reduced their price target on Carlyle Group from $68.00 to $66.00 and set a “neutral” rating on the stock in a report on Monday, November 3rd. TD Cowen dropped their price objective on shares of Carlyle Group from $78.00 to $77.00 and set a “buy” rating for the company in a report on Monday, November 3rd. Finally, BMO Capital Markets started coverage on shares of Carlyle Group in a research note on Friday, October 3rd. They set an “outperform” rating and a $74.00 target price on the stock. Seven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $67.36.

Insider Buying and Selling at Carlyle Group

In related news, General Counsel Jeffrey W. Ferguson sold 202,606 shares of Carlyle Group stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $64.23, for a total value of $13,013,383.38. Following the completion of the sale, the general counsel owned 753,255 shares in the company, valued at approximately $48,381,568.65. This trade represents a 21.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 26.30% of the company’s stock.

Institutional Investors Weigh In On Carlyle Group

A number of institutional investors have recently modified their holdings of the company. State Street Corp lifted its stake in Carlyle Group by 4.8% during the 2nd quarter. State Street Corp now owns 8,221,652 shares of the financial services provider’s stock worth $422,593,000 after acquiring an additional 378,455 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Carlyle Group by 1.7% during the second quarter. Ameriprise Financial Inc. now owns 2,769,631 shares of the financial services provider’s stock worth $142,359,000 after purchasing an additional 46,894 shares during the period. Bank of America Corp DE boosted its stake in shares of Carlyle Group by 23.5% in the second quarter. Bank of America Corp DE now owns 1,870,662 shares of the financial services provider’s stock valued at $96,152,000 after purchasing an additional 355,942 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Carlyle Group by 40.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,144,974 shares of the financial services provider’s stock valued at $49,909,000 after purchasing an additional 332,533 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Carlyle Group by 7.4% during the 2nd quarter. Invesco Ltd. now owns 798,017 shares of the financial services provider’s stock worth $41,018,000 after buying an additional 55,083 shares during the period. 55.88% of the stock is owned by institutional investors and hedge funds.

About Carlyle Group

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.