California State Teachers Retirement System Sells 15,804 Shares of Carlyle Group Inc. $CG

Key Points

• California State Teachers Retirement System reduced its Carlyle Group stake by 5%, selling 15,804 shares and retaining 303,315 shares valued at approximately $12.8 million. Institutional investors collectively own 55.88% of the company.
• Director David Rubenstein sold 400,000 shares for approximately $17.1 million, reducing his position by 1.47%; corporate insiders still own 25.40% of Carlyle’s stock.
• Carlyle shares fell 2.2% to $40.90, despite the company exceeding quarterly earnings expectations with $1.07 in EPS versus the $0.91 consensus estimate. The company pays a $0.35 quarterly dividend, while analysts maintain a consensus “Hold” rating and an average price target of $59.31.

California State Teachers Retirement System lowered its holdings in shares of Carlyle Group Inc. (NASDAQ:CG - Free Report) by 5.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 303,315 shares of the financial services provider's stock after selling 15,804 shares during the quarter. California State Teachers Retirement System owned 0.09% of Carlyle Group worth $12,772,595 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP boosted its position in shares of Carlyle Group by 32.3% in the 4th quarter. Allworth Financial LP now owns 721 shares of the financial services provider's stock worth $43,000 after purchasing an additional 176 shares in the last quarter. GW Henssler & Associates Ltd. grew its holdings in Carlyle Group by 6.3% in the fourth quarter. GW Henssler & Associates Ltd. now owns 3,673 shares of the financial services provider's stock valued at $217,000 after purchasing an additional 217 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in shares of Carlyle Group by 36.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 962 shares of the financial services provider's stock worth $41,000 after buying an additional 258 shares in the last quarter. Wedmont Private Capital raised its position in shares of Carlyle Group by 4.1% during the 2nd quarter. Wedmont Private Capital now owns 7,433 shares of the financial services provider's stock worth $332,000 after buying an additional 295 shares in the last quarter. Finally, Clearstead Advisors LLC grew its stake in shares of Carlyle Group by 2.0% in the 4th quarter. Clearstead Advisors LLC now owns 15,977 shares of the financial services provider's stock valued at $944,000 after buying an additional 306 shares in the last quarter. 55.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Carlyle Group

In other news, Director David Rubenstein sold 400,000 shares of the firm's stock in a transaction that occurred on 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 owned 26,899,644 shares in the company, valued at $1,149,690,784.56. This trade represents a 1.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 25.40% of the stock is owned by corporate insiders.

Carlyle Group Stock Down 2.2%

CG stock traded down $0.92 during trading hours on Tuesday, reaching $40.90. 1,395,230 shares of the stock were exchanged, compared to its average volume of 3,385,508. Carlyle Group Inc. has a 12 month low of $39.60 and a 12 month high of $69.85. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.35 and a quick ratio of 2.35. The firm's 50-day moving average is $46.76 and its 200-day moving average is $47.01. The company has a market cap of $14.58 billion, a price-to-earnings ratio of 42.62, a PEG ratio of 1.31 and a beta of 1.84.

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 for the quarter, beating the consensus estimate of $0.91 by $0.16. Carlyle Group had a return on equity of 22.52% and a net margin of 10.08%.The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $923.50 million. During the same quarter in the previous year, the company posted $0.87 EPS. The company's revenue for the quarter was down 28.6% compared to the same quarter last year. On average, equities research analysts expect that Carlyle Group Inc. will post 3.65 earnings per share for the current year.

Carlyle Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Monday, August 17th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.40 annualized dividend and a dividend yield of 3.4%. Carlyle Group's payout ratio is 145.83%.

Analysts Set New Price Targets

A number of analysts have recently commented on CG shares. Citigroup reissued an "outperform" rating on shares of Carlyle Group in a research report on Thursday, August 6th. Morgan Stanley set a $57.00 price objective on Carlyle Group in a report on Tuesday, July 21st. Barclays lifted their target price on Carlyle Group from $57.00 to $64.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Keefe, Bruyette & Woods upped their price objective on shares of Carlyle Group from $47.00 to $50.00 and gave the company a "market perform" rating in a report on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of Carlyle Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $59.31.

Carlyle Group Profile

The Carlyle Group Inc NASDAQ: CG is a global investment firm that manages alternative assets for institutional investors, private wealth clients and other investors. The company invests across private equity, global credit and investment solutions, with strategies spanning corporate, real estate and infrastructure investments.

Carlyle's investment activities include acquiring and supporting companies through its corporate private equity platform, providing loans and other financing through its credit business, and managing portfolios of private market investments through its investment solutions platform.

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