Algebris UK Ltd Acquires 228,666 Shares of Carlyle Group Inc. (NASDAQ:CG)

Key Points

• Algebris UK Ltd significantly increased its stake in Carlyle Group Inc. by 90.3%, becoming its 12th largest position with ownership of 482,022 shares valued at approximately $19.45 million.
• Carlyle Group reported a quarterly earnings per share of $1.14, surpassing analysts' expectations, while its revenue reached $973.10 million, reflecting a 2% year-over-year increase.
• Analysts have mixed ratings for Carlyle Group, with a consensus rating of "Hold" and a consensus price target around $57.73, while recent upgrades have also set target prices as high as $65.00.

Algebris UK Ltd lifted its stake in Carlyle Group Inc. (NASDAQ:CG - Free Report) by 90.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 482,022 shares of the financial services provider's stock after purchasing an additional 228,666 shares during the quarter. Carlyle Group accounts for about 3.5% of Algebris UK Ltd's investment portfolio, making the stock its 12th largest holding. Algebris UK Ltd owned 0.13% of Carlyle Group worth $19,451,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Teacher Retirement System of Texas acquired a new position in shares of Carlyle Group in the first quarter worth $1,481,000. Korea Investment CORP increased its stake in shares of Carlyle Group by 28.6% in the fourth quarter. Korea Investment CORP now owns 165,660 shares of the financial services provider's stock worth $8,364,000 after acquiring an additional 36,873 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Carlyle Group by 105.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,929 shares of the financial services provider's stock worth $476,000 after acquiring an additional 5,611 shares during the last quarter. Invesco Ltd. increased its stake in shares of Carlyle Group by 9.7% in the fourth quarter. Invesco Ltd. now owns 650,735 shares of the financial services provider's stock worth $32,856,000 after acquiring an additional 57,606 shares during the last quarter. Finally, Private Trust Co. NA raised its holdings in shares of Carlyle Group by 101.9% during the 1st quarter. Private Trust Co. NA now owns 636 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 321 shares in the last quarter. Institutional investors and hedge funds own 55.88% of the company's stock.

Carlyle Group Price Performance

Shares of NASDAQ:CG traded down $2.04 during trading on Friday, reaching $58.62. The stock had a trading volume of 2,062,588 shares, compared to its average volume of 2,826,675. Carlyle Group Inc. has a 52 week low of $33.02 and a 52 week high of $63.74. The stock has a market capitalization of $21.17 billion, a PE ratio of 19.87, a P/E/G ratio of 1.20 and a beta of 1.86. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.36 and a quick ratio of 2.36. The business's 50-day moving average price is $52.36 and its 200 day moving average price is $47.91.

Carlyle Group (NASDAQ:CG - Get Free Report) last announced its earnings results on Friday, May 9th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.17. Carlyle Group had a net margin of 19.00% and a return on equity of 23.78%. The company had revenue of $973.10 million for the quarter, compared to analyst estimates of $972.27 million. During the same period in the prior year, the business earned $1.01 earnings per share. Carlyle Group's quarterly revenue was up 2.0% on a year-over-year basis. As a group, equities analysts predict that Carlyle Group Inc. will post 4.48 earnings per share for the current year.

Analysts Set New Price Targets

CG has been the topic of a number of recent research reports. Morgan Stanley cut their price target on shares of Carlyle Group from $57.00 to $44.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. Cowen upgraded shares of Carlyle Group from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Bank of America reduced their price objective on shares of Carlyle Group from $47.00 to $46.00 and set an "underperform" rating for the company in a research note on Friday, April 4th. JMP Securities boosted their price objective on shares of Carlyle Group from $58.00 to $70.00 and gave the stock a "market outperform" rating in a research note on Monday, July 14th. Finally, Evercore ISI increased their price objective on Carlyle Group from $45.00 to $58.00 and gave the company an "in-line" rating in a research report on Thursday, July 10th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $57.73.

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.