Carlyle Group Inc. $CG Stock Holdings Lessened by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Carlyle Group stake by 67.8% in the third quarter, selling 179,140 shares and retaining 85,092 shares worth approximately $3.4 million. Institutional investors collectively own 55.88% of CG.
• Director David Rubenstein sold 400,000 shares for about $17.1 million, reducing his ownership by 1.47%; insiders still hold 25.40% of the company.
• Carlyle exceeded quarterly earnings expectations with EPS of $1.07 versus a $0.91 consensus and revenue of $1.11 billion, but revenue declined 28.6% year over year. Analysts maintain a consensus “Hold” rating with an average price target of $54.60, while the stock recently opened at $37.27.

Assenagon Asset Management S.A. lessened its position in Carlyle Group Inc. (NASDAQ:CG - Free Report) by 67.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,092 shares of the financial services provider's stock after selling 179,140 shares during the period. Assenagon Asset Management S.A.'s holdings in Carlyle Group were worth $3,375,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CG. Retirement Planning Co of New England Inc. boosted its holdings in shares of Carlyle Group by 2.9% during the third quarter. Retirement Planning Co of New England Inc. now owns 11,287 shares of the financial services provider's stock worth $448,000 after acquiring an additional 316 shares during the period. Krilogy Financial LLC lifted its stake in Carlyle Group by 47.4% during the third quarter. Krilogy Financial LLC now owns 8,400 shares of the financial services provider's stock worth $321,000 after purchasing an additional 2,702 shares during the last quarter. Sound Income Strategies LLC boosted its stake in Carlyle Group by 1.8% in the third quarter. Sound Income Strategies LLC now owns 129,024 shares of the financial services provider's stock valued at $4,953,000 after buying an additional 2,290 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Carlyle Group by 10.8% during the 3rd quarter. GAMMA Investing LLC now owns 8,615 shares of the financial services provider's stock valued at $342,000 after purchasing an additional 837 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of Carlyle Group by 30.8% during the third quarter. Farther Finance Advisors LLC now owns 10,615 shares of the financial services provider's stock worth $421,000 after buying an additional 2,500 shares in the last quarter. Institutional investors own 55.88% of the company's stock.

Insider Activity

In other news, Director David Rubenstein sold 400,000 shares of the stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $42.74, for a total transaction of $17,096,000.00. Following the completion of the sale, the director directly owned 26,899,644 shares in the company, valued at approximately $1,149,690,784.56. This represents a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 25.40% of the company's stock.

Carlyle Group Price Performance

CG stock opened at $37.27 on Thursday. Carlyle Group Inc. has a 52-week low of $35.41 and a 52-week high of $67.30. The business has a 50-day simple moving average of $42.81 and a two-hundred day simple moving average of $45.18. The company has a market capitalization of $13.28 billion, a P/E ratio of 38.82, a price-to-earnings-growth ratio of 1.19 and a beta of 1.88. The company has a debt-to-equity ratio of 1.91, a quick ratio of 2.35 and a current ratio of 2.35.

Carlyle Group (NASDAQ:CG - Get Free Report) last released its earnings results on Tuesday, August 4th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.16. Carlyle Group had a return on equity of 22.52% and a net margin of 10.08%. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $923.50 million. During the same period last year, the business posted $0.87 earnings per share. The business's revenue for the quarter was down 28.6% on a year-over-year basis. Research analysts expect that Carlyle Group Inc. will post 3.56 EPS for the current fiscal year.

Carlyle Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Monday, August 17th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Monday, August 17th. Carlyle Group's dividend payout ratio (DPR) is 145.83%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CG. BMO Capital Markets reiterated an "outperform" rating and issued a $52.00 price objective on shares of Carlyle Group in a report on Monday, July 13th. TD Cowen reduced their price objective on shares of Carlyle Group from $54.00 to $42.00 and set a "hold" rating on the stock in a research note on Monday, October 12th. Piper Sandler decreased their price objective on Carlyle Group from $54.00 to $48.00 and set an "overweight" rating for the company in a report on Monday. Royal Bank Of Canada lowered their target price on Carlyle Group from $58.00 to $48.00 and set a "sector perform" rating for the company in a research report on Monday, October 5th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Carlyle Group from $47.00 to $50.00 and gave the stock a "market perform" rating in a research report on Thursday, August 6th. Eight analysts have rated the stock with a Buy rating, eight have issued 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 a consensus rating of "Hold" and an average price target of $54.60.

Carlyle Group Profile

The Carlyle Group Inc is a global investment firm that manages alternative assets for institutional investors, private wealth clients and other investors. The company invests across a range of strategies, including private equity, global credit and investment solutions.

Carlyle's investment activities include corporate buyouts, growth capital, real estate-related investments, private lending and other credit strategies. Through its investment platforms, the firm provides capital to companies and seeks to support business growth, operational improvement and long-term value creation across a variety of industries.

Founded in 1987, Carlyle is headquartered in Washington, DC, and serves clients and investment opportunities across North America, Europe, Asia-Pacific and other international markets.

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