Amundi Decreases Stock Holdings in Carlyle Group Inc. $CG

Key Points

• Amundi cut its Carlyle Group stake by 19.8% in the first quarter, selling 162,315 shares and retaining 656,220 shares valued at approximately $31.8 million. Institutional investors collectively own 55.88% of the company.
• Carlyle shares recently traded at $48.91, up 6.3%, but the company’s latest quarterly results missed expectations: EPS was $0.89 versus $0.91 forecast, while revenue fell 28% year over year to $750.9 million.
• Analyst sentiment remains mixed, with seven Buy, eight Hold, and one Sell rating. The stock carries a consensus rating of Hold and an average price target of $60.07.

Amundi lowered its stake in Carlyle Group Inc. (NASDAQ:CG - Free Report) by 19.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 656,220 shares of the financial services provider's stock after selling 162,315 shares during the quarter. Amundi owned 0.18% of Carlyle Group worth $31,754,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in Carlyle Group in the 4th quarter worth approximately $288,257,000. State Street Corp increased its stake in shares of Carlyle Group by 20.9% in the 3rd quarter. State Street Corp now owns 9,942,135 shares of the financial services provider's stock worth $623,372,000 after acquiring an additional 1,720,483 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Carlyle Group during the 3rd quarter worth $75,612,000. Vanguard Group Inc. grew its holdings in shares of Carlyle Group by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 26,368,246 shares of the financial services provider's stock valued at $1,558,627,000 after purchasing an additional 934,237 shares during the period. Finally, Algebris UK Ltd. acquired a new stake in Carlyle Group during the fourth quarter worth about $50,459,000. 55.88% of the stock is owned by hedge funds and other institutional investors.

Carlyle Group Trading Up 6.3%

NASDAQ:CG opened at $48.91 on Tuesday. Carlyle Group Inc. has a 12-month low of $39.60 and a 12-month high of $69.85. The firm has a market cap of $17.61 billion, a PE ratio of 33.50, a price-to-earnings-growth ratio of 1.61 and a beta of 1.82. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 1.92. The stock has a fifty day moving average price of $44.48 and a 200 day moving average price of $49.26.

Carlyle Group (NASDAQ:CG - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.02). The company had revenue of $750.90 million during the quarter, compared to analyst estimates of $1.01 billion. Carlyle Group had a net margin of 13.46% and a return on equity of 20.95%. Carlyle Group's revenue for the quarter was down 28.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.14 EPS. Sell-side analysts anticipate that Carlyle Group Inc. will post 3.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on CG. Weiss Ratings upgraded shares of Carlyle Group from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, July 6th. JPMorgan Chase & Co. cut their price objective on Carlyle Group from $66.00 to $63.00 and set a "neutral" rating for the company in a research report on Friday, May 8th. TD Cowen lowered their target price on shares of Carlyle Group from $53.00 to $50.00 and set a "hold" rating for the company in a research note on Monday, May 18th. Cfra lowered shares of Carlyle Group to a "sell" rating and set a $45.00 price objective on the stock. in a report on Friday, May 8th. Finally, The Goldman Sachs Group cut their target price on Carlyle Group from $81.00 to $69.00 and set a "buy" rating on the stock in a research report on Tuesday, April 7th. Seven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $60.07.

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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