Hoertkorn Richard Charles Reduces Stock Position in Carlyle Group Inc. $CG

Key Points

• Hoertkorn Richard Charles reduced its position in Carlyle Group Inc. by 16.7% during the second quarter, now holding 20,000 shares valued at approximately $1,028,000.
• General Counsel Jeffrey W. Ferguson sold 202,606 shares of Carlyle Group stock, representing a 21.20% decrease in his ownership, with a total transaction value of over $13 million.
• Various institutional investors and hedge funds have increased their stakes in Carlyle Group, with 55.88% of the company’s stock now being held by these investors.

Hoertkorn Richard Charles lessened its holdings in shares of Carlyle Group Inc. (NASDAQ:CG - Free Report) by 16.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,000 shares of the financial services provider's stock after selling 4,000 shares during the quarter. Hoertkorn Richard Charles' holdings in Carlyle Group were worth $1,028,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Carlyle Group by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 24,292,937 shares of the financial services provider's stock worth $1,058,929,000 after acquiring an additional 1,131,514 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Carlyle Group by 7.5% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 6,827,559 shares of the financial services provider's stock worth $297,613,000 after acquiring an additional 476,127 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Carlyle Group by 21.7% in the 1st quarter. Ameriprise Financial Inc. now owns 2,722,737 shares of the financial services provider's stock worth $118,684,000 after acquiring an additional 485,488 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Carlyle Group by 37.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,604,610 shares of the financial services provider's stock worth $69,945,000 after acquiring an additional 441,276 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Carlyle Group by 1.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,427,171 shares of the financial services provider's stock worth $62,210,000 after acquiring an additional 20,970 shares during the last quarter. Institutional investors own 55.88% of the company's stock.

Carlyle Group Stock Down 1.1%

NASDAQ:CG traded down $0.75 during mid-day trading on Friday, hitting $68.60. 986,708 shares of the company's stock traded hands, compared to its average volume of 2,795,268. The company has a fifty day moving average of $63.02 and a 200 day moving average of $50.62. Carlyle Group Inc. has a twelve month low of $33.02 and a twelve month high of $69.85. The company has a market capitalization of $24.81 billion, a P/E ratio of 20.07, a P/E/G ratio of 1.23 and a beta of 2.01. 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 declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Monday, August 18th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.0%. The ex-dividend date was Monday, August 18th. Carlyle Group's payout ratio is presently 40.94%.

Wall Street Analysts Forecast Growth

CG has been the subject of a number of recent research reports. Citigroup reiterated an "outperform" rating on shares of Carlyle Group in a report on Thursday, August 14th. Barclays reiterated an "overweight" rating and issued a $74.00 target price (up previously from $66.00) on shares of Carlyle Group in a report on Thursday, August 7th. Evercore ISI lifted their target price on Carlyle Group from $45.00 to $58.00 and gave the stock an "in-line" rating in a report on Thursday, July 10th. Wells Fargo & Company lifted their target price on Carlyle Group from $49.00 to $61.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. Finally, JMP Securities lifted their target price on Carlyle Group from $70.00 to $75.00 and gave the stock a "market outperform" rating in a report on Thursday, August 14th. Six equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $59.93.

Insiders Place Their Bets

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

About Carlyle Group

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.