City of London Investment Management Co. Ltd. Sells 92,271 Shares of Carlyle Group Inc. $CG

Key Points

• City of London Investment Management cut its Carlyle Group stake by 92.5% in the third quarter, selling 92,271 shares and retaining 7,452 shares valued at about $296,000.
• Carlyle reported quarterly EPS of $1.07, beating the $0.91 consensus, and revenue of $1.11 billion versus expectations of $923.5 million; revenue was nevertheless down 28.6% year over year.
• Analysts’ consensus rating is Hold, with an average price target of $53. The shares opened at $42.75 in the trading session cited.

City of London Investment Management Co. Ltd. decreased its position in shares of Carlyle Group Inc. (NASDAQ:CG - Free Report) by 92.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,452 shares of the financial services provider's stock after selling 92,271 shares during the period. City of London Investment Management Co. Ltd.'s holdings in Carlyle Group were worth $296,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Caz Investments LP acquired a new stake in shares of Carlyle Group in the second quarter valued at $4,464,000. Miller Value Partners LLC acquired a new position in Carlyle Group during the second quarter worth about $1,684,000. United Capital Financial Advisors LLC acquired a new position in Carlyle Group during the second quarter worth about $1,206,000. William Blair Investment Management LLC bought a new stake in Carlyle Group in the second quarter worth about $249,077,000. Finally, Hsbc Holdings PLC lifted its holdings in Carlyle Group by 33.5% in the 2nd quarter. Hsbc Holdings PLC now owns 283,206 shares of the financial services provider's stock valued at $11,914,000 after acquiring an additional 71,039 shares during the last quarter. 55.88% of the stock is owned by institutional investors.

Carlyle Group Trading Up 4.5%

Shares of CG opened at $42.75 on Thursday. The business's 50-day moving average price is $41.01 and its 200 day moving average price is $46.99. The stock has a market capitalization of $15.23 billion, a P/E ratio of 44.53, a P/E/G ratio of 1.32 and a beta of 1.84. Carlyle Group Inc. has a 1-year low of $35.41 and a 1-year high of $67.30. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 1.91.

Carlyle Group (NASDAQ:CG - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping 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 earned $0.87 EPS. The business's revenue for the quarter was down 28.6% compared to the same quarter last year. Analysts expect that Carlyle Group Inc. will post 3.53 earnings per share for the current year.

Insider Buying and Selling at Carlyle Group

In other news, Director David Rubenstein sold 400,000 shares of the business'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 sale, the director owned 26,899,644 shares in the company, valued at $1,149,690,784.56. The trade was a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 25.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CG has been the subject of several research reports. Evercore set a $51.00 price objective on shares of Carlyle Group in a research report on Thursday, August 6th. Royal Bank Of Canada dropped their target price on shares of Carlyle Group from $58.00 to $48.00 and set a "sector perform" rating on the stock in a report on Monday, October 5th. UBS Group cut their target price on shares of Carlyle Group from $70.00 to $60.00 and set a "buy" rating for the company in a research note on Tuesday, October 13th. Citigroup reissued an "outperform" rating on shares of Carlyle Group in a research note on Thursday, August 6th. Finally, Barclays reduced their target price on shares of Carlyle Group from $64.00 to $53.00 and set an "overweight" rating for the company in a report on Thursday, October 8th. Eight equities research 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $53.00.

Carlyle Group Company Profile

The Carlyle Group Inc is a global investment firm that manages alternative assets for institutional investors, private wealth clients and other investors. The company invests across a range of strategies, including private equity, global credit and investment solutions.

Carlyle's investment activities include corporate buyouts, growth capital, real estate-related investments, private lending and other credit strategies. Through its investment platforms, the firm provides capital to companies and seeks to support business growth, operational improvement and long-term value creation across a variety of industries.

Founded in 1987, Carlyle is headquartered in Washington, DC, and serves clients and investment opportunities across North America, Europe, Asia-Pacific and other international markets.

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