Private Management Group Inc. raised its position in The Carlyle Group Inc. (NASDAQ:CG - Free Report) by 16.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 704,150 shares of the financial services provider's stock after buying an additional 101,268 shares during the period. Private Management Group Inc. owned 0.20% of The Carlyle Group worth $30,321,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Tobam acquired a new stake in shares of The Carlyle Group in the second quarter valued at approximately $27,000. Blue Trust Inc. grew its holdings in The Carlyle Group by 506.3% in the 2nd quarter. Blue Trust Inc. now owns 770 shares of the financial services provider's stock valued at $31,000 after buying an additional 643 shares in the last quarter. Rothschild Investment LLC acquired a new stake in The Carlyle Group in the 2nd quarter worth about $50,000. 1832 Asset Management L.P. acquired a new stake in The Carlyle Group during the first quarter worth approximately $55,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position in The Carlyle Group by 1,600.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,700 shares of the financial services provider's stock worth $73,000 after purchasing an additional 1,600 shares during the period. Institutional investors own 55.88% of the company's stock.
A number of analysts have weighed in on the stock. Evercore ISI increased their target price on shares of 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. TD Cowen upped their target price on shares of The Carlyle Group from $41.00 to $42.00 and gave the stock a "hold" rating in a report on Tuesday, August 6th. Wells Fargo & Company increased their price objective 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. Redburn Atlantic assumed coverage on shares of The Carlyle Group in a report on Tuesday, August 27th. They set a "buy" rating and a $55.00 price objective for the company. Finally, Barclays lifted their price objective on The Carlyle Group from $46.00 to $50.00 and gave the stock an "overweight" rating in a report on Monday, October 7th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $51.33.
View Our Latest Stock Analysis on CG
In other The Carlyle Group news, major shareholder Carlyle Group Inc. sold 275,000 shares of the firm's stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $2.20, for a total value of $605,000.00. Following the transaction, the insider now directly owns 2,405,461 shares of the company's stock, valued at $5,292,014.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 1,872,366 shares of company stock valued at $11,580,308. Insiders own 27.20% of the company's stock.
Shares of CG traded down $0.11 during mid-day trading on Friday, hitting $49.92. 1,289,183 shares of the company's stock were exchanged, compared to its average volume of 2,304,958. The firm has a market capitalization of $17.79 billion, a P/E ratio of -44.57, a P/E/G ratio of 1.30 and a beta of 1.73. The Carlyle Group Inc. has a fifty-two week low of $28.16 and a fifty-two week high of $52.73. The business's 50 day moving average is $44.48 and its two-hundred day moving average is $43.22. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 1.75.
The Carlyle Group (NASDAQ:CG - Get Free Report) last released its earnings results on Monday, August 5th. The financial services provider reported $0.78 EPS for the quarter, missing analysts' consensus estimates of $0.83 by ($0.05). The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $808.73 million. The Carlyle Group had a negative net margin of 11.67% and a positive return on equity of 24.30%. The Carlyle Group's revenue was up 131.5% compared to the same quarter last year. During the same period last year, the business posted $0.88 EPS. On average, equities analysts expect that The Carlyle Group Inc. will post 3.71 earnings per share for the current year.
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.
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