Channing Capital Management LLC Trims Stock Holdings in Carlyle Group Inc. $CG

Key Points

• Channing Capital Management LLC reduced its holdings in Carlyle Group Inc. by 18.3%, now owning 176,413 shares worth $7.69 million as of their latest SEC filing.
• The firm also announced a quarterly dividend of $0.35 per share, which will be paid on August 28th, representing a dividend yield of 2.3%.
• Analysts have shown positive sentiment, with Barclays increasing its target price for Carlyle Group from $66 to $74, while the stock has an average target price of $59.60 according to MarketBeat.com.

Channing Capital Management LLC cut its stake in Carlyle Group Inc. (NASDAQ:CG - Free Report) by 18.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 176,413 shares of the financial services provider's stock after selling 39,557 shares during the quarter. Channing Capital Management LLC's holdings in Carlyle Group were worth $7,690,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CG. Brooklyn Investment Group raised its stake in Carlyle Group by 28.6% in the 1st quarter. Brooklyn Investment Group now owns 1,062 shares of the financial services provider's stock worth $46,000 after purchasing an additional 236 shares in the last quarter. American Century Companies Inc. raised its stake in Carlyle Group by 3.3% in the 1st quarter. American Century Companies Inc. now owns 68,885 shares of the financial services provider's stock worth $3,003,000 after purchasing an additional 2,207 shares in the last quarter. Brandywine Global Investment Management LLC acquired a new stake in Carlyle Group in the 1st quarter worth about $9,511,000. Aberdeen Group plc raised its stake in Carlyle Group by 133.0% in the 1st quarter. Aberdeen Group plc now owns 140,042 shares of the financial services provider's stock worth $6,104,000 after purchasing an additional 79,950 shares in the last quarter. Finally, Sei Investments Co. raised its stake in Carlyle Group by 16.2% in the 1st quarter. Sei Investments Co. now owns 64,616 shares of the financial services provider's stock worth $2,940,000 after purchasing an additional 9,007 shares in the last quarter. 55.88% of the stock is currently owned by institutional investors and hedge funds.

Carlyle Group Trading Down 1.6%

Shares of NASDAQ:CG traded down $1.04 during trading on Monday, reaching $63.67. The stock had a trading volume of 2,587,917 shares, compared to its average volume of 2,836,458. The firm's fifty day moving average is $57.74 and its 200 day moving average is $48.66. The company has a debt-to-equity ratio of 1.52, a quick ratio of 2.24 and a current ratio of 2.24. Carlyle Group Inc. has a 52 week low of $33.02 and a 52 week high of $65.97. The stock has a market cap of $23.03 billion, a price-to-earnings ratio of 18.62, a P/E/G ratio of 1.18 and a beta of 1.90.

Carlyle Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Monday, August 18th will be issued a dividend of $0.35 per share. The ex-dividend date is Monday, August 18th. This represents a $1.40 annualized dividend and a dividend yield of 2.2%. Carlyle Group's dividend payout ratio is currently 40.94%.

Wall Street Analysts Forecast Growth

Several research firms have commented on CG. Jefferies Financial Group raised their target price on shares of Carlyle Group from $54.00 to $66.00 and gave the company a "hold" rating in a report on Wednesday, August 13th. Evercore ISI boosted their price objective on shares of Carlyle Group from $45.00 to $58.00 and gave the company an "in-line" rating in a research report on Thursday, July 10th. Cowen upgraded shares of Carlyle Group from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. TD Cowen upgraded shares of Carlyle Group from a "hold" rating to a "buy" rating and set a $56.00 price objective for the company in a research report on Wednesday, May 14th. Finally, Barclays restated an "overweight" rating and set a $74.00 price objective (up from $66.00) on shares of Carlyle Group in a research report on Thursday, August 7th. Seven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $59.60.

Insiders Place Their Bets

In other Carlyle Group news, General Counsel Jeffrey W. Ferguson sold 202,606 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $64.23, for a total transaction of $13,013,383.38. Following the transaction, the general counsel owned 753,255 shares in the company, valued at approximately $48,381,568.65. This represents a 21.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 26.30% of the company's stock.

Carlyle Group Company Profile

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.