Assetmark Inc. Sells 88,253 Shares of Carlyle Group Inc. $CG

Key Points

• Assetmark Inc. trimmed its stake in Carlyle by 15.8%, selling 88,253 shares and leaving it with 471,035 shares (about 0.13% of the company) valued at ~$27.84 million at quarter-end.
• Carlyle's latest quarter showed EPS of $1.01 (missed $1.04) but revenue of $1.90 billion (well above the $1.09 billion estimate), and the company pays a quarterly dividend of $0.35 (annualized $1.40, ~2.7% yield).
• Director David M. Rubenstein sold 500,000 shares at $46.68 for $23.34 million, trimming his position by 1.79%; insiders own 26.30% of the stock while institutional investors hold 55.88%.

Assetmark Inc. trimmed its position in shares of Carlyle Group Inc. (NASDAQ:CG - Free Report) by 15.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 471,035 shares of the financial services provider's stock after selling 88,253 shares during the period. Assetmark Inc. owned approximately 0.13% of Carlyle Group worth $27,843,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Deprince Race & Zollo Inc. grew its stake in shares of Carlyle Group by 38.3% in the 4th quarter. Deprince Race & Zollo Inc. now owns 461,245 shares of the financial services provider's stock valued at $27,264,000 after purchasing an additional 127,681 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Carlyle Group by 1.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,735,298 shares of the financial services provider's stock valued at $457,233,000 after purchasing an additional 117,223 shares during the period. Garrison Bradford & Associates Inc. grew its stake in shares of Carlyle Group by 21.2% in the 4th quarter. Garrison Bradford & Associates Inc. now owns 22,843 shares of the financial services provider's stock valued at $1,350,000 after purchasing an additional 4,000 shares during the period. Sterneck Capital Management LLC grew its stake in shares of Carlyle Group by 8.5% in the 4th quarter. Sterneck Capital Management LLC now owns 7,125 shares of the financial services provider's stock valued at $421,000 after purchasing an additional 556 shares during the period. Finally, Comprehensive Money Management Services LLC bought a new stake in shares of Carlyle Group in the 4th quarter valued at approximately $222,000. 55.88% of the stock is currently owned by institutional investors.

Carlyle Group Stock Up 1.7%

NASDAQ:CG opened at $52.06 on Thursday. The stock's fifty day moving average price is $50.21 and its two-hundred day moving average price is $55.61. Carlyle Group Inc. has a 52-week low of $34.01 and a 52-week high of $69.85. The company has a debt-to-equity ratio of 1.90, a quick ratio of 2.33 and a current ratio of 2.33. The company has a market cap of $18.80 billion, a price-to-earnings ratio of 23.88, a P/E/G ratio of 1.10 and a beta of 2.05.

Carlyle Group (NASDAQ:CG - Get Free Report) last posted its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.03). Carlyle Group had a return on equity of 23.62% and a net margin of 16.92%.The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the company posted $0.92 EPS. The firm's quarterly revenue was up 84.1% compared to the same quarter last year. On average, analysts anticipate that Carlyle Group Inc. will post 4.48 EPS for the current year.

Carlyle Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Monday, February 16th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.40 annualized dividend and a yield of 2.7%. Carlyle Group's dividend payout ratio is currently 64.22%.

Wall Street Analyst Weigh In

CG has been the topic of a number of research analyst reports. BMO Capital Markets decreased their price target on Carlyle Group from $65.00 to $58.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 24th. Wall Street Zen upgraded Carlyle Group from a "sell" rating to a "hold" rating in a research report on Saturday, March 7th. Barclays decreased their price target on Carlyle Group from $68.00 to $67.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 8th. Wolfe Research restated an "outperform" rating on shares of Carlyle Group in a research report on Wednesday, January 7th. Finally, Morgan Stanley set a $71.00 price target on Carlyle Group in a research report on Tuesday, January 27th. Nine research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $66.43.

Insider Buying and Selling at Carlyle Group

In other news, Director David M. Rubenstein sold 500,000 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $46.68, for a total value of $23,340,000.00. Following the transaction, the director owned 27,399,644 shares of the company's stock, valued at $1,279,015,381.92. This represents a 1.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 26.30% of the stock is currently owned by company insiders.

About Carlyle Group

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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