Bank of Nova Scotia Takes $13.25 Million Position in Carlyle Group Inc. $CG

Bank of Nova Scotia acquired a new position in shares of Carlyle Group Inc. (NASDAQ:CG - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 314,725 shares of the financial services provider's stock, valued at approximately $13,252,000. Bank of Nova Scotia owned approximately 0.09% of Carlyle Group as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. AQR Capital Management LLC grew its position in shares of Carlyle Group by 937.5% during the 1st quarter. AQR Capital Management LLC now owns 57,335 shares of the financial services provider's stock valued at $2,499,000 after purchasing an additional 51,809 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Carlyle Group by 40.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,144,974 shares of the financial services provider's stock valued at $49,909,000 after acquiring an additional 332,533 shares during the last quarter. Empowered Funds LLC increased its position in shares of Carlyle Group by 3.4% in the first quarter. Empowered Funds LLC now owns 48,237 shares of the financial services provider's stock worth $2,103,000 after purchasing an additional 1,579 shares during the last quarter. Focus Partners Wealth lifted its position in Carlyle Group by 27.4% during the first quarter. Focus Partners Wealth now owns 5,434 shares of the financial services provider's stock valued at $237,000 after purchasing an additional 1,169 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of Carlyle Group by 755.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 650 shares of the financial services provider's stock valued at $28,000 after buying an additional 574 shares in the last quarter. 55.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CG shares. Evercore set a $51.00 price target on Carlyle Group in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of Carlyle Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Wall Street Zen downgraded Carlyle Group from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. BMO Capital Markets reaffirmed an "outperform" rating and set a $52.00 price objective on shares of Carlyle Group in a research report on Monday, July 13th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Carlyle Group in a research report on Thursday, August 6th. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Carlyle Group has an average rating of "Hold" and a consensus price target of $59.31.

Carlyle Group Stock Down 0.5%

CG stock opened at $49.14 on Tuesday. The stock has a market capitalization of $17.51 billion, a P/E ratio of 51.19, a P/E/G ratio of 1.51 and a beta of 1.82. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.35 and a quick ratio of 2.35. Carlyle Group Inc. has a 1-year low of $39.60 and a 1-year high of $69.85. The business has a fifty day moving average price of $45.78 and a 200-day moving average price of $47.89.

Carlyle Group (NASDAQ:CG - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $0.91 by $0.16. The company had revenue of $1.11 billion during 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%.Carlyle Group's revenue for the quarter was down 28.6% on a year-over-year basis. During the same period last year, the company earned $0.87 EPS. Equities analysts forecast that Carlyle Group Inc. will post 3.69 earnings per share for the current fiscal year.

Carlyle Group Announces Dividend

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

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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