Alliancebernstein L.P. Sells 36,135 Shares of Carlyle Group Inc. $CG

Key Points

• Alliancebernstein L.P. has reduced its stake in Carlyle Group Inc. by 9.0%, selling 36,135 shares to now own approximately 367,224 shares valued at $16 million.
• Several other institutional investors increased their holdings in Carlyle Group, notably Whipplewood Advisors raising its stake by 5,100%.
• Carlyle Group's stock has a consensus rating of "Hold" among analysts, with a recent price target range from $58.00 to $75.00.

Alliancebernstein L.P. reduced its holdings in shares of Carlyle Group Inc. (NASDAQ:CG - Free Report) by 9.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 367,224 shares of the financial services provider's stock after selling 36,135 shares during the period. Alliancebernstein L.P. owned about 0.10% of Carlyle Group worth $16,007,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Teacher Retirement System of Texas purchased a new stake in Carlyle Group during the first quarter valued at approximately $1,481,000. Wealth Enhancement Advisory Services LLC increased its holdings in Carlyle Group by 105.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,929 shares of the financial services provider's stock valued at $476,000 after buying an additional 5,611 shares during the last quarter. Private Trust Co. NA increased its stake in shares of Carlyle Group by 101.9% in the first quarter. Private Trust Co. NA now owns 636 shares of the financial services provider's stock worth $28,000 after purchasing an additional 321 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of Carlyle Group by 247.7% in the first quarter. Bessemer Group Inc. now owns 1,217 shares of the financial services provider's stock worth $53,000 after purchasing an additional 867 shares in the last quarter. Finally, Catalyst Capital Advisors LLC increased its stake in shares of Carlyle Group by 83.3% in the first quarter. Catalyst Capital Advisors LLC now owns 11,000 shares of the financial services provider's stock worth $479,000 after purchasing an additional 5,000 shares in the last quarter. 55.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CG has been the subject of a number of analyst reports. JMP Securities increased their price objective on shares of Carlyle Group from $70.00 to $75.00 and gave the stock a "market outperform" rating in a research note on Thursday, August 14th. Jefferies Financial Group increased their price objective on shares of Carlyle Group from $54.00 to $66.00 and gave the stock a "hold" rating in a research note on Wednesday, August 13th. Citigroup reaffirmed an "outperform" rating on shares of Carlyle Group in a research note on Thursday, August 14th. Evercore ISI raised their price objective on Carlyle Group from $45.00 to $58.00 and gave the company an "in-line" rating in a research report on Thursday, July 10th. Finally, Barclays restated an "overweight" rating and set a $74.00 price objective (up previously from $66.00) on shares of Carlyle Group in a research report on Thursday, August 7th. Six equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $59.93.

Carlyle Group Price Performance

Shares of NASDAQ:CG traded up $0.59 on Wednesday, reaching $67.57. The company's stock had a trading volume of 4,938,744 shares, compared to its average volume of 2,361,791. Carlyle Group Inc. has a 52-week low of $33.02 and a 52-week high of $69.59. The company has a market cap of $24.44 billion, a P/E ratio of 19.76, a PEG ratio of 1.22 and a beta of 2.01. The company has a 50-day simple moving average of $62.80 and a 200 day simple moving average of $50.47. The company has a debt-to-equity ratio of 1.52, a quick ratio of 2.24 and a current ratio of 2.24.

Carlyle Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Monday, August 18th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Monday, August 18th. Carlyle Group's dividend payout ratio (DPR) is 40.94%.

Insider Activity

In other news, General Counsel Jeffrey W. Ferguson sold 202,606 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $64.23, for a total value of $13,013,383.38. Following the completion of the sale, the general counsel owned 753,255 shares in the company, valued at approximately $48,381,568.65. This trade represents a 21.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 26.30% of the company's stock.

Carlyle Group Company 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.