Algebris UK Ltd. Acquires Shares of 1,923,159 Carlyle Group Inc. $CG

Key Points

• Algebris UK Ltd. acquired 1.92 million Carlyle Group shares worth approximately $80.7 million, making CG its fifth-largest portfolio holding and representing about 0.53% of the company.
• Carlyle exceeded quarterly expectations, reporting $1.07 in EPS versus a $0.91 consensus and $1.11 billion in revenue, although revenue declined 28.6% year over year.
• The company declared a quarterly dividend of $0.35, equal to a 2.8% annualized yield. Analysts’ consensus rating remains “Hold,” with an average price target of $59.31.

Algebris UK Ltd. purchased a new position in Carlyle Group Inc. (NASDAQ:CG - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,923,159 shares of the financial services provider's stock, valued at approximately $80,729,000. Carlyle Group accounts for about 5.3% of Algebris UK Ltd.'s investment portfolio, making the stock its 5th biggest position. Algebris UK Ltd. owned approximately 0.53% of Carlyle Group at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the company. Allworth Financial LP increased its holdings in Carlyle Group by 32.3% during the 4th quarter. Allworth Financial LP now owns 721 shares of the financial services provider's stock worth $43,000 after acquiring an additional 176 shares during the period. Kestra Advisory Services LLC lifted its stake in Carlyle Group by 1.2% in the fourth quarter. Kestra Advisory Services LLC now owns 15,637 shares of the financial services provider's stock worth $924,000 after acquiring an additional 184 shares during the period. Larson Financial Group LLC grew its stake in Carlyle Group by 6.0% in the third quarter. Larson Financial Group LLC now owns 3,483 shares of the financial services provider's stock worth $218,000 after purchasing an additional 196 shares during the period. Robertson Stephens Wealth Management LLC boosted its holdings in shares of Carlyle Group by 3.1% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 6,595 shares of the financial services provider's stock valued at $390,000 after buying an additional 199 shares in the last quarter. Finally, Commerce Bank boosted its position in shares of Carlyle Group by 4.3% in the 4th quarter. Commerce Bank now owns 5,161 shares of the financial services provider's stock worth $305,000 after purchasing an additional 212 shares in the last quarter. 55.88% of the stock is owned by hedge funds and other institutional investors.

Carlyle Group Stock Performance

Shares of NASDAQ CG opened at $49.40 on Thursday. The stock has a market cap of $17.60 billion, a PE ratio of 51.46, a price-to-earnings-growth ratio of 1.46 and a beta of 1.83. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.35 and a quick ratio of 2.35. The firm has a fifty day moving average price of $45.58 and a 200-day moving average price of $48.11. Carlyle Group Inc. has a 1 year low of $39.60 and a 1 year high of $69.85.

Carlyle Group (NASDAQ:CG - Get Free Report) last issued its earnings results on Tuesday, August 4th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.16. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $923.50 million. Carlyle Group had a return on equity of 22.52% and a net margin of 10.08%.The firm's quarterly revenue was down 28.6% on a year-over-year basis. During the same quarter last year, the company earned $0.87 EPS. Equities analysts anticipate that Carlyle Group Inc. will post 3.68 earnings per share for the current fiscal year.

Carlyle Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Monday, August 17th will be issued a $0.35 dividend. The ex-dividend date is Monday, August 17th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.8%. Carlyle Group's payout ratio is 145.83%.

Analyst Ratings Changes

Several analysts recently commented on CG shares. TD Cowen reissued a "hold" rating on shares of Carlyle Group in a research report on Thursday, August 6th. UBS Group boosted their price target on Carlyle Group from $63.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Morgan Stanley set a $57.00 price objective on Carlyle Group in a research report on Tuesday, July 21st. Citizens Jmp increased their price target on Carlyle Group from $70.00 to $73.00 and gave the company a "market outperform" rating in a report on Thursday, August 6th. Finally, Evercore set a $51.00 price objective on Carlyle Group in a report on Thursday, August 6th. Seven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $59.31.

Carlyle Group Profile

The Carlyle Group NASDAQ: CG is a global alternative asset manager that invests across a range of strategies including private equity, real assets (such as real estate and infrastructure), global credit, and investment solutions. Founded in 1987 and headquartered in Washington, DC, Carlyle raises and manages investment funds that acquire, operate and exit companies and assets on behalf of institutional and private investors. The firm is publicly traded on the Nasdaq exchange and operates as an asset manager and investment advisor rather than as an operating company.

Carlyle's core activities include sourcing and executing private equity buyouts and growth investments, originating and managing credit and financing solutions, and acquiring and operating real asset portfolios.

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