Bank of New York Mellon Corp Sells 295,371 Shares of Carlyle Group Inc. $CG

Key Points

• Bank of New York Mellon cut its Carlyle Group stake by 12.7% in the fourth quarter, selling 295,371 shares and leaving it with about 2.0 million shares valued at roughly $119.7 million.
• Carlyle missed earnings and revenue estimates in its latest quarterly report, posting EPS of $0.89 versus $0.91 expected and revenue of $750.9 million versus $1.01 billion expected; revenue fell 28% from a year earlier.
• The company paid a quarterly dividend of $0.35 per share, equal to an annualized yield of 3.2%, while analysts currently maintain a consensus rating of Hold with an average price target of $62.

Bank of New York Mellon Corp lessened its holdings in Carlyle Group Inc. (NASDAQ:CG - Free Report) by 12.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,024,585 shares of the financial services provider's stock after selling 295,371 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.56% of Carlyle Group worth $119,673,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in Carlyle Group by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 26,368,246 shares of the financial services provider's stock worth $1,558,627,000 after acquiring an additional 934,237 shares during the period. State Street Corp boosted its position 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 purchasing an additional 1,720,483 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Carlyle Group by 1.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,735,298 shares of the financial services provider's stock worth $457,233,000 after purchasing an additional 117,223 shares during the period. Geode Capital Management LLC increased its holdings in Carlyle Group by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 4,999,880 shares of the financial services provider's stock valued at $294,817,000 after purchasing an additional 79,134 shares during the last quarter. Finally, Norges Bank bought a new position in Carlyle Group during the fourth quarter worth about $288,257,000. 55.88% of the stock is owned by institutional investors.

Carlyle Group Stock Performance

Shares of CG opened at $43.48 on Monday. The firm has a market cap of $15.65 billion, a P/E ratio of 29.78, a PEG ratio of 1.49 and a beta of 1.84. Carlyle Group Inc. has a twelve month low of $41.54 and a twelve month high of $69.85. The company has a debt-to-equity ratio of 1.92, a quick ratio of 2.55 and a current ratio of 2.55. The firm's 50 day moving average price is $47.82 and its two-hundred day moving average price is $53.28.

Carlyle Group (NASDAQ:CG - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.02). The firm 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%. The business's revenue for the quarter was down 28.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.14 EPS. On average, analysts forecast that Carlyle Group Inc. will post 4.05 EPS for the current fiscal year.

Carlyle Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Monday, May 18th were given a $0.35 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.40 dividend on an annualized basis and a yield of 3.2%. Carlyle Group's dividend payout ratio (DPR) is 95.89%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Weiss Ratings cut Carlyle Group from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, May 11th. Morgan Stanley decreased their price objective on shares of Carlyle Group from $71.00 to $66.00 and set an "equal weight" rating for the company in a report on Tuesday, April 21st. The Goldman Sachs Group cut their target price on shares of Carlyle Group from $81.00 to $69.00 and set a "buy" rating on the stock in a report on Tuesday, April 7th. BMO Capital Markets decreased their price target on shares of Carlyle Group from $65.00 to $58.00 and set an "outperform" rating for the company in a report on Tuesday, March 24th. Finally, Royal Bank Of Canada downgraded Carlyle Group from an "outperform" rating to a "sector perform" rating and set a $58.00 price objective on the stock. in a research note on Monday, May 11th. Seven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $62.00.

Insider Transactions at Carlyle Group

In other Carlyle Group news, Director David M. Rubenstein sold 500,000 shares of the business's stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $46.68, for a total transaction of $23,340,000.00. Following the sale, the director directly owned 27,399,644 shares of the company's stock, valued at $1,279,015,381.92. The trade was a 1.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 25.40% of the company's stock.

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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