Pinnacle Associates Ltd. increased its stake in shares of The Carlyle Group L.P. (NASDAQ:CG) by 234.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 35,225 shares of the financial services provider’s stock after purchasing an additional 24,700 shares during the quarter. Pinnacle Associates Ltd.’s holdings in The Carlyle Group were worth $831,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CG. FMR LLC grew its position in The Carlyle Group by 201.6% in the 2nd quarter. FMR LLC now owns 1,901,705 shares of the financial services provider’s stock valued at $37,559,000 after acquiring an additional 1,271,205 shares during the last quarter. Goldman Sachs Group Inc. grew its position in The Carlyle Group by 29.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,981,876 shares of the financial services provider’s stock valued at $39,142,000 after acquiring an additional 448,150 shares during the last quarter. Artemis Investment Management LLP grew its position in The Carlyle Group by 16.5% in the 2nd quarter. Artemis Investment Management LLP now owns 3,163,828 shares of the financial services provider’s stock valued at $62,562,000 after acquiring an additional 447,498 shares during the last quarter. Wells Fargo & Company MN grew its position in The Carlyle Group by 101.4% in the 2nd quarter. Wells Fargo & Company MN now owns 775,466 shares of the financial services provider’s stock valued at $15,316,000 after acquiring an additional 390,337 shares during the last quarter. Finally, ALGEBRIS UK Ltd bought a new position in The Carlyle Group in the 2nd quarter valued at $5,436,000. 38.11% of the stock is currently owned by hedge funds and other institutional investors.
Shares of The Carlyle Group L.P. (NASDAQ CG) opened at $20.55 on Tuesday. The Carlyle Group L.P. has a 1-year low of $14.85 and a 1-year high of $24.85. The firm has a market capitalization of $7,030.00, a price-to-earnings ratio of 8.08 and a beta of 1.79. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.27 and a quick ratio of 1.23.
The Carlyle Group (NASDAQ:CG) last issued its earnings results on Tuesday, October 31st. The financial services provider reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.08. The business had revenue of $639.90 million during the quarter, compared to analysts’ expectations of $668.32 million. The Carlyle Group had a return on equity of 43.32% and a net margin of 5.43%. During the same period in the prior year, the business earned $0.66 EPS. sell-side analysts predict that The Carlyle Group L.P. will post 2.85 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Friday, November 10th were paid a dividend of $0.56 per share. This is a boost from The Carlyle Group’s previous quarterly dividend of $0.42. This represents a $2.24 dividend on an annualized basis and a dividend yield of 10.90%. The ex-dividend date was Thursday, November 9th. The Carlyle Group’s dividend payout ratio is 123.08%.
CG has been the subject of several research reports. TheStreet cut The Carlyle Group from a “c-” rating to a “d+” rating in a report on Thursday, September 7th. Zacks Investment Research cut The Carlyle Group from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Credit Suisse Group cut The Carlyle Group to a “hold” rating in a report on Friday, October 6th. BidaskClub cut The Carlyle Group from a “buy” rating to a “hold” rating in a report on Thursday, October 26th. Finally, Morgan Stanley upped their target price on The Carlyle Group from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $24.89.
In related news, Director Edward J. Mathias sold 17,133 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $21.21, for a total transaction of $363,390.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
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The Carlyle Group Profile
The Carlyle Group L.P. is a diversified multi-product global alternative asset management firm. The Company operates in four segments: Corporate Private Equity (CPE), Real Assets, Global Market Strategies (GMS) and Investment Solutions. Corporate Private Equity advises its buyout and growth capital funds, which pursue various corporate investments of different sizes and growth potentials.
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