Sound Income Strategies LLC Invests $4.61 Million in Carlyle Group Inc. $CG

Sound Income Strategies LLC bought a new position in shares of Carlyle Group Inc. (NASDAQ:CG) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 89,667 shares of the financial services provider’s stock, valued at approximately $4,609,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Carlyle Group by 4.9% in the first quarter. Vanguard Group Inc. now owns 24,292,937 shares of the financial services provider’s stock valued at $1,058,929,000 after acquiring an additional 1,131,514 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Carlyle Group by 7.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 6,827,559 shares of the financial services provider’s stock valued at $297,613,000 after acquiring an additional 476,127 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Carlyle Group by 21.7% in the first quarter. Ameriprise Financial Inc. now owns 2,722,737 shares of the financial services provider’s stock valued at $118,684,000 after acquiring an additional 485,488 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Carlyle Group by 37.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,604,610 shares of the financial services provider’s stock valued at $69,945,000 after acquiring an additional 441,276 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Carlyle Group by 1.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,427,171 shares of the financial services provider’s stock valued at $62,210,000 after acquiring an additional 20,970 shares during the period. Institutional investors and hedge funds own 55.88% of the company’s stock.

Carlyle Group Stock Up 0.5%

Carlyle Group stock opened at $63.99 on Monday. 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 Inc. has a 1-year low of $33.02 and a 1-year high of $69.85. The company has a market cap of $23.15 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 1.16 and a beta of 2.01. The stock’s 50 day moving average price is $63.85 and its 200 day moving average price is $51.70.

Carlyle Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Monday, August 18th were paid a $0.35 dividend. The ex-dividend date was Monday, August 18th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.2%. Carlyle Group’s payout ratio is 40.94%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wells Fargo & Company lifted their target price on Carlyle Group from $49.00 to $61.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th. Citigroup reiterated an “outperform” rating on shares of Carlyle Group in a research note on Thursday, August 14th. JMP Securities lifted their target price on Carlyle Group from $70.00 to $75.00 and gave the company a “market outperform” rating in a research note on Thursday, August 14th. Barclays reiterated an “overweight” rating and issued a $74.00 target price (up from $66.00) on shares of Carlyle Group in a research note on Thursday, August 7th. Finally, Jefferies Financial Group lifted their target price on Carlyle Group from $54.00 to $66.00 and gave the company a “hold” rating in a research note on Wednesday, August 13th. Six 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 company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $59.93.

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 stock was sold at an average price of $64.23, for a total value of $13,013,383.38. Following the sale, the general counsel directly owned 753,255 shares in the company, valued at $48,381,568.65. The trade was a 21.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 26.30% of the stock is currently owned by company insiders.

Carlyle Group Company Profile

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.