Carlyle Group Inc. $CG Shares Sold by Argent Capital Management LLC

Key Points

• Argent Capital Management LLC reduced its stake in Carlyle Group Inc. by 9% in the second quarter, selling 61,867 shares and maintaining approximately 0.17% ownership valued at $32.17 million.
• Several institutional investors increased their holdings, with Vanguard Group raising its stake by 4.9%, bringing its total to over $1 billion in value.
• Carlyle Group recently announced a quarterly dividend of $0.35 per share, which reflects a 2.1% yield based on its stock price.

Argent Capital Management LLC lessened its position in Carlyle Group Inc. (NASDAQ:CG - Free Report) by 9.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 625,786 shares of the financial services provider's stock after selling 61,867 shares during the period. Argent Capital Management LLC owned approximately 0.17% of Carlyle Group worth $32,165,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Carlyle Group by 4.9% during the first quarter. Vanguard Group Inc. now owns 24,292,937 shares of the financial services provider's stock valued at $1,058,929,000 after buying an additional 1,131,514 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Carlyle Group by 7.5% during 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 period. Ameriprise Financial Inc. grew its stake in shares of Carlyle Group by 21.7% in the first quarter. Ameriprise Financial Inc. now owns 2,722,737 shares of the financial services provider's stock worth $118,684,000 after purchasing an additional 485,488 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Carlyle Group by 37.9% during the first 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 valued at $69,945,000 after purchasing an additional 441,276 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Carlyle Group by 1.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,427,171 shares of the financial services provider's stock worth $62,210,000 after purchasing an additional 20,970 shares during the period. Institutional investors own 55.88% of the company's stock.

Insider Activity at Carlyle Group

In other news, General Counsel Jeffrey W. Ferguson sold 202,606 shares of Carlyle Group stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $64.23, for a total value of $13,013,383.38. Following the transaction, the general counsel directly owned 753,255 shares of the company's stock, valued at $48,381,568.65. This trade represents a 21.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 26.30% of the stock is currently owned by insiders.

Carlyle Group Stock Performance

CG opened at $67.79 on Tuesday. The business has a fifty day simple moving average of $63.39 and a 200-day simple moving average of $51.04. The firm has a market cap of $24.52 billion, a PE ratio of 19.82, a P/E/G ratio of 1.24 and a beta of 2.01. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 1.52. Carlyle Group Inc. has a fifty-two week low of $33.02 and a fifty-two week high of $69.85.

Carlyle Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Monday, August 18th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.1%. The ex-dividend date was Monday, August 18th. Carlyle Group's payout ratio is presently 40.94%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. JMP Securities boosted their price target on shares of Carlyle Group from $70.00 to $75.00 and gave the stock a "market outperform" rating in a research report on Thursday, August 14th. Wells Fargo & Company boosted 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. Citigroup reaffirmed an "outperform" rating on shares of Carlyle Group in a research note on Thursday, August 14th. Barclays restated an "overweight" rating and issued a $74.00 price objective (up previously from $66.00) on shares of Carlyle Group in a report on Thursday, August 7th. Finally, 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. Six research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $59.93.

Carlyle Group Company Profile

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.

Want to see what other hedge funds are holding CG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carlyle Group Inc. (NASDAQ:CG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.