Augustine Asset Management Inc. lowered its stake in shares of The Carlyle Group LP (NASDAQ:CG) by 6.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 68,044 shares of the financial services provider’s stock after selling 4,879 shares during the quarter. Augustine Asset Management Inc. owned 0.06% of The Carlyle Group worth $1,243,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the stock. Cordasco Financial Network purchased a new position in The Carlyle Group in the first quarter worth about $41,000. Belpointe Asset Management LLC bought a new position in The Carlyle Group during the 3rd quarter worth about $101,000. JOYN Advisors Inc. raised its position in The Carlyle Group by 5.8% during the 4th quarter. JOYN Advisors Inc. now owns 11,481 shares of the financial services provider’s stock worth $181,000 after buying an additional 630 shares during the last quarter. Suntrust Banks Inc. raised its position in The Carlyle Group by 18.7% during the 4th quarter. Suntrust Banks Inc. now owns 11,227 shares of the financial services provider’s stock worth $183,000 after buying an additional 1,770 shares during the last quarter. Finally, North Star Investment Management Corp. grew its stake in The Carlyle Group by 80.9% in the 4th quarter. North Star Investment Management Corp. now owns 12,300 shares of the financial services provider’s stock valued at $194,000 after acquiring an additional 5,500 shares during the period. 44.66% of the stock is currently owned by institutional investors.
CG has been the topic of several recent research reports. ValuEngine raised shares of The Carlyle Group from a “sell” rating to a “hold” rating in a research note on Tuesday, January 15th. Bank of America downgraded The Carlyle Group from a “buy” rating to a “neutral” rating and lowered their price target for the company from $23.00 to $20.00 in a report on Friday, March 29th. Canaccord Genuity reiterated an “average” rating and set a $9.50 target price on shares of The Carlyle Group in a report on Tuesday, January 8th. BidaskClub upgraded The Carlyle Group from a “sell” rating to a “hold” rating in a report on Thursday, January 10th. Finally, Goldman Sachs Group upgraded The Carlyle Group from a “neutral” rating to a “buy” rating and set a $21.00 target price for the company in a research report on Friday, January 4th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $20.91.
The Carlyle Group (NASDAQ:CG) last posted its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $0.25 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.10). The Carlyle Group had a return on equity of 12.27% and a net margin of 4.56%. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $487.45 million. During the same period in the prior year, the firm posted $0.47 EPS. The firm’s quarterly revenue was up 54.7% on a year-over-year basis. On average, research analysts forecast that The Carlyle Group LP will post 1.93 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 21st. Stockholders of record on Monday, May 13th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Friday, May 10th. The Carlyle Group’s dividend payout ratio (DPR) is presently 65.40%.
In other news, CFO Curtis L. Buser sold 31,200 shares of the business’s stock in a transaction on Wednesday, February 13th. The stock was sold at an average price of $18.55, for a total transaction of $578,760.00. Following the sale, the chief financial officer now directly owns 641,909 shares of the company’s stock, valued at $11,907,411.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
The Carlyle Group Company Profile
The Carlyle Group L.P. 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.
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