Private Management Group Inc. Has $40.20 Million Position in Carlyle Group Inc. $CG

Private Management Group Inc. grew its stake in Carlyle Group Inc. (NASDAQ:CG – Free Report) by 38.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 954,767 shares of the financial services provider’s stock after purchasing an additional 263,342 shares during the period. Carlyle Group makes up approximately 1.1% of Private Management Group Inc.’s holdings, making the stock its 23rd largest holding. Private Management Group Inc.’s holdings in Carlyle Group were worth $40,205,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CG. WFA of San Diego LLC bought a new position in Carlyle Group during the 2nd quarter valued at about $26,000. Quarry LP acquired a new position in Carlyle Group during the 3rd quarter worth $33,000. Main Street Group LTD bought a new position in Carlyle Group in the first quarter valued at about $27,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Carlyle Group during the 3rd quarter worth approximately $41,000. Finally, Geneos Wealth Management Inc. grew its holdings in Carlyle Group by 755.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 650 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 574 shares during the period. Institutional investors and hedge funds own 55.88% of the company’s stock.

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Carlyle Group Price Performance

NASDAQ:CG opened at $49.09 on Friday. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 1.91. Carlyle Group Inc. has a 12-month low of $39.60 and a 12-month high of $69.85. The stock’s 50 day moving average price is $46.06 and its two-hundred day moving average price is $47.72. The firm has a market capitalization of $17.49 billion, a price-to-earnings ratio of 51.14, a P/E/G ratio of 1.50 and a beta of 1.83.

Carlyle Group (NASDAQ:CG – Get Free Report) last posted its earnings results on Tuesday, August 4th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.16. Carlyle Group had a return on equity of 22.52% and a net margin of 10.08%.The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $923.50 million. During the same period in the previous year, the firm earned $0.87 EPS. The firm’s revenue was down 28.6% compared to the same quarter last year. On average, analysts anticipate that Carlyle Group Inc. will post 3.69 earnings per share for the current year.

Carlyle Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Monday, August 17th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.40 annualized dividend and a dividend yield of 2.9%. Carlyle Group’s payout ratio is presently 145.83%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CG shares. Weiss Ratings raised Carlyle Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Citigroup reissued an “outperform” rating on shares of Carlyle Group in a research note on Thursday, August 6th. JPMorgan Chase & Co. lowered their target price on shares of Carlyle Group from $66.00 to $63.00 and set a “neutral” rating for the company in a research note on Friday, May 8th. Barclays lifted their price objective on Carlyle Group from $57.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Finally, Morgan Stanley set a $57.00 target price on shares of Carlyle Group in a research note on Tuesday, July 21st. Seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $59.31.

Read Our Latest Report on Carlyle Group

About Carlyle Group

(Free Report)

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.

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