Carlyle Group Inc. $CG Stock: Private Management Group Inc. Raises Holdings

Key Points

• Private Management Group increased its Carlyle Group stake by 13.1% in the third quarter, adding 125,290 shares to hold about 1.08 million shares valued at $42.8 million. Institutional investors collectively own 55.88% of the company.
• Analyst views are mixed: eight rate CG Buy, eight Hold and one Sell. The consensus rating is Hold, with an average price target of $51.93.
• Carlyle announced a quarterly dividend of $0.35 per share, equivalent to $1.40 annually and a 3.3% yield. Director David Rubenstein also sold 400,000 shares, while retaining about 26.9 million shares.

Private Management Group Inc. lifted its position in shares of Carlyle Group Inc. (NASDAQ:CG - Free Report) by 13.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,080,057 shares of the financial services provider's stock after acquiring an additional 125,290 shares during the quarter. Carlyle Group accounts for approximately 1.1% of Private Management Group Inc.'s investment portfolio, making the stock its 14th biggest holding. Private Management Group Inc. owned approximately 0.30% of Carlyle Group worth $42,835,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. BlackRock Inc. acquired a new position in Carlyle Group in the 2nd quarter worth about $1,346,848,000. William Blair Investment Management LLC acquired a new stake in Carlyle Group in the second quarter valued at approximately $249,077,000. Legal & General Group Plc purchased a new stake in shares of Carlyle Group in the second quarter valued at approximately $162,984,000. Amundi increased its position in shares of Carlyle Group by 419.0% in the second quarter. Amundi now owns 3,406,001 shares of the financial services provider's stock valued at $143,427,000 after buying an additional 2,749,781 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Carlyle Group by 1.1% during the 1st quarter. Bank of New York Mellon Corp now owns 2,047,650 shares of the financial services provider's stock worth $99,086,000 after buying an additional 23,065 shares during the period. Hedge funds and other institutional investors own 55.88% of the company's stock.

Analyst Upgrades and Downgrades

CG has been the topic of a number of research analyst reports. Evercore set a $42.00 price target on shares of Carlyle Group in a research note on Friday. UBS Group reduced their price objective on shares of Carlyle Group from $70.00 to $60.00 and set a "buy" rating for the company in a research report on Tuesday, October 13th. Keefe, Bruyette & Woods increased 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. Barclays dropped their target price on shares of Carlyle Group from $53.00 to $48.00 and set an "overweight" rating on the stock in a research report on Friday. Finally, TD Cowen cut their target price on shares of Carlyle Group from $54.00 to $42.00 and set a "hold" rating for the company in a research note on Monday, October 12th. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $51.93.

Insider Transactions at Carlyle Group

In other news, Director David Rubenstein sold 400,000 shares of the company's stock in a transaction 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 of the company's stock, valued at $1,149,690,784.56. This represents a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 25.40% of the stock is currently owned by company insiders.

Carlyle Group Price Performance

Shares of Carlyle Group stock opened at $42.31 on Tuesday. The stock has a market capitalization of $15.08 billion, a P/E ratio of 45.01, a PEG ratio of 1.37 and a beta of 1.84. The business has a 50 day simple moving average of $40.51 and a two-hundred day simple moving average of $46.65. Carlyle Group Inc. has a 12 month low of $35.41 and a 12 month high of $67.30. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Monday, November 16th will be issued a $0.35 dividend. The ex-dividend date is Monday, November 16th. This represents a $1.40 dividend on an annualized basis and a yield of 3.3%. Carlyle Group's dividend payout ratio (DPR) is presently 148.94%.

Carlyle Group Company Profile

The Carlyle Group Inc is a global alternative asset manager that invests on behalf of institutional and individual clients. Its business includes private equity, credit and investment solutions, including portfolios of private equity funds and related investments.

Founded in Washington, DC, in 1987, Carlyle has grown into an international firm with investment activities and offices across North America, Europe and Asia, among other regions. Its strategies span a range of industries and markets, and it works with businesses at different stages of development.

Harvey Schwartz became Carlyle's chief executive officer in 2023.

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