Carlyle Group Inc. (NASDAQ:CG) Shares Sold by City of London Investment Management Co. Ltd.

Key Points

• City of London Investment Management Co. Ltd. reduced its stake in Carlyle Group Inc. by 13.1%, selling 16,407 shares during the first quarter, now holding shares worth approximately $4.74 million.
• Carlyle Group received several analyst upgrades, with TD Cowen and Citigroup raising their ratings to "buy" and increasing their price targets significantly, indicating positive market sentiment.
• The company recently reported an earnings per share (EPS) of $1.14, exceeding estimates, with a 2.0% increase in revenue year-over-year.

City of London Investment Management Co. Ltd. lessened its position in Carlyle Group Inc. (NASDAQ:CG - Free Report) by 13.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,837 shares of the financial services provider's stock after selling 16,407 shares during the period. City of London Investment Management Co. Ltd.'s holdings in Carlyle Group were worth $4,744,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CG. Whipplewood Advisors LLC grew its holdings in Carlyle Group by 5,100.0% in the first quarter. Whipplewood Advisors LLC now owns 572 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 561 shares during the period. Private Trust Co. NA grew its holdings in Carlyle Group by 101.9% in the first 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 during the period. Main Street Group LTD purchased a new stake in Carlyle Group in the fourth quarter valued at approximately $29,000. LRI Investments LLC purchased a new stake in Carlyle Group in the fourth quarter valued at approximately $32,000. Finally, Farther Finance Advisors LLC grew its stake in Carlyle Group by 117.2% during the first quarter. Farther Finance Advisors LLC now owns 973 shares of the financial services provider's stock worth $43,000 after buying an additional 525 shares during the period. Institutional investors and hedge funds own 55.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CG. Cowen upgraded shares of Carlyle Group from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. JMP Securities upped their price target on shares of Carlyle Group from $58.00 to $70.00 and gave the company a "market outperform" rating in a report on Monday, July 14th. Keefe, Bruyette & Woods upped their price target on shares of Carlyle Group from $43.00 to $45.00 and gave the company a "market perform" rating in a report on Monday, May 12th. TD Cowen raised shares of Carlyle Group from a "hold" rating to a "buy" rating and set a $56.00 price target on the stock in a report on Wednesday, May 14th. Finally, Citigroup raised shares of Carlyle Group from a "neutral" rating to a "buy" rating and upped their price target for the company from $44.00 to $65.00 in a 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 assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $57.73.

Carlyle Group Stock Performance

Shares of CG opened at $60.10 on Wednesday. Carlyle Group Inc. has a one year low of $33.02 and a one year high of $63.74. The company has a 50-day moving average of $53.26 and a two-hundred day moving average of $48.00. The stock has a market cap of $21.70 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 1.17 and a beta of 1.90. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.36 and a quick ratio of 2.36.

Carlyle Group (NASDAQ:CG - Get Free Report) last posted its quarterly 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. The business had revenue of $973.10 million during the quarter, compared to analyst estimates of $972.27 million. Carlyle Group had a net margin of 19.00% and a return on equity of 23.78%. The firm's revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 earnings per share. On average, equities research analysts expect that Carlyle Group Inc. will post 4.48 earnings per share for the current year.

Carlyle Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Monday, August 18th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.3%. Carlyle Group's payout ratio is presently 47.46%.

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.

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