Eagle Asset Management Inc. Sells 582,871 Shares of The Carlyle Group Inc. (NASDAQ:CG)

Eagle Asset Management Inc. trimmed its holdings in shares of The Carlyle Group Inc. (NASDAQ:CG) by 34.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,103,987 shares of the financial services provider’s stock after selling 582,871 shares during the period. Eagle Asset Management Inc. owned about 0.31% of The Carlyle Group worth $47,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA lifted its position in shares of The Carlyle Group by 22.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,107,301 shares of the financial services provider’s stock valued at $90,740,000 after buying an additional 391,553 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new stake in shares of The Carlyle Group during the third quarter valued at about $1,060,000. Moors & Cabot Inc. raised its position in shares of The Carlyle Group by 11.8% in the 3rd quarter. Moors & Cabot Inc. now owns 8,553 shares of the financial services provider’s stock valued at $368,000 after purchasing an additional 900 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of The Carlyle Group in the 3rd quarter valued at approximately $560,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of The Carlyle Group in the 3rd quarter valued at approximately $265,000. 55.88% of the stock is currently owned by institutional investors.

The Carlyle Group Price Performance

CG stock opened at $53.65 on Friday. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 1.38. The Carlyle Group Inc. has a fifty-two week low of $32.09 and a fifty-two week high of $54.52. The business has a 50 day moving average price of $48.30 and a 200 day moving average price of $44.00. The stock has a market cap of $19.19 billion, a price-to-earnings ratio of 185.00, a PEG ratio of 1.35 and a beta of 1.70.

The Carlyle Group (NASDAQ:CG) last issued 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 return on equity of 24.91% and a net margin of 2.21%. 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 business earned $0.87 earnings per share. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. Equities research analysts anticipate that The Carlyle Group Inc. will post 3.77 earnings per share for the current fiscal year.

The Carlyle Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Monday, November 18th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Monday, November 18th. The Carlyle Group’s dividend payout ratio (DPR) is presently 482.76%.

Analysts Set New Price Targets

CG has been the topic of a number of analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $60.00 price objective on shares of The Carlyle Group in a research note on Wednesday, October 9th. UBS Group lifted their price target on shares of The Carlyle Group from $43.00 to $54.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company lifted their price target on shares of The Carlyle Group from $42.00 to $48.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. lifted their price target on shares of The Carlyle Group from $44.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Oppenheimer raised their price objective on The Carlyle Group from $78.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $53.33.

Insider Transactions at The Carlyle Group

In related news, major shareholder Carlyle Group Inc. sold 133,643 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $2.51, for a total transaction of $335,443.93. Following the transaction, the insider now owns 4,767,697 shares of the company’s stock, valued at $11,966,919.47. This represents a 2.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daniel A. D’aniello sold 495,542 shares of the company’s 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 transaction, the director now directly owns 32,504,102 shares in the company, valued at $1,674,936,376.06. This represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,171,556 shares of company stock worth $29,222,475 over the last 90 days. 27.20% of the stock is currently owned by 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.