Whalen Wealth Management Inc. Takes Position in The Carlyle Group Inc. (NASDAQ:CG)

Whalen Wealth Management Inc. acquired a new position in The Carlyle Group Inc. (NASDAQ:CG) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 16,704 shares of the financial services provider’s stock, valued at approximately $719,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. National Bank of Canada FI grew its position in shares of The Carlyle Group by 58.8% in the 1st quarter. National Bank of Canada FI now owns 404,036 shares of the financial services provider’s stock worth $18,953,000 after buying an additional 149,612 shares during the last quarter. Capital Group Private Client Services Inc. purchased a new position in The Carlyle Group in the first quarter worth $3,021,000. Cetera Investment Advisers increased its position in shares of The Carlyle Group by 292.1% during the first quarter. Cetera Investment Advisers now owns 33,560 shares of the financial services provider’s stock worth $1,574,000 after purchasing an additional 25,002 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of The Carlyle Group by 182.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 387,332 shares of the financial services provider’s stock worth $15,551,000 after purchasing an additional 250,021 shares in the last quarter. Finally, Comerica Bank grew its stake in The Carlyle Group by 44.5% during the 1st quarter. Comerica Bank now owns 184,420 shares of the financial services provider’s stock worth $8,651,000 after buying an additional 56,811 shares during the last quarter. Institutional investors own 55.88% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CG. JPMorgan Chase & Co. raised their price target on The Carlyle Group from $44.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. TD Cowen boosted their target price on shares of The Carlyle Group from $43.00 to $49.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. UBS Group lifted their price objective on shares of The Carlyle Group from $43.00 to $54.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Evercore ISI upped their target price on The Carlyle Group from $45.00 to $47.00 and gave the company an “in-line” rating in a research report on Monday, October 14th. Finally, Redburn Atlantic began coverage on The Carlyle Group in a research report on Tuesday, August 27th. They set a “buy” rating and a $55.00 price target for the company. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $53.33.

The Carlyle Group Price Performance

Shares of NASDAQ CG opened at $50.86 on Tuesday. The company has a debt-to-equity ratio of 1.38, a current ratio of 2.32 and a quick ratio of 2.32. The stock has a market capitalization of $18.19 billion, a price-to-earnings ratio of 175.38, a PEG ratio of 1.33 and a beta of 1.70. The firm’s 50 day simple moving average is $47.21 and its 200-day simple moving average is $43.74. The Carlyle Group Inc. has a 12 month low of $31.21 and a 12 month high of $54.52.

The Carlyle Group (NASDAQ:CG) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. The Carlyle Group had a net margin of 2.21% and a return on equity of 24.91%. The company had revenue of $895.00 million during the quarter, compared to analysts’ expectations of $908.17 million. During the same quarter in the previous year, the company earned $0.87 earnings per share. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. Analysts expect that The Carlyle Group Inc. will post 3.77 EPS for the current year.

The Carlyle Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Monday, November 18th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Monday, November 18th. The Carlyle Group’s payout ratio is currently 482.76%.

Insider Transactions at The Carlyle Group

In related news, Director Daniel A. D’aniello sold 495,542 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $51.53, for a total value of $25,535,279.26. Following the completion of the transaction, the director now directly owns 32,504,102 shares of the company’s stock, valued at approximately $1,674,936,376.06. This represents a 1.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Carlyle Group Inc. sold 924,466 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $2.14, for a total transaction of $1,978,357.24. Following the sale, the insider now directly owns 3,643,231 shares of the company’s stock, valued at $7,796,514.34. The trade was a 20.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,171,556 shares of company stock valued at $29,222,475 in the last three months. 27.20% of the stock is currently owned by company insiders.

The Carlyle Group 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.