Corebridge Financial Inc. Reduces Holdings in Carlyle Group Inc. $CG

Key Points

• Corebridge Financial Inc. has reduced its holdings in Carlyle Group Inc. by 2.4%, owning approximately 233,146 shares valued at $10.16 million after selling 5,697 shares in Q1.
• Major institutional investors, including Vanguard Group and Ameriprise Financial, have increased their positions in Carlyle Group, demonstrating strong interest in the stock.
• Carlyle Group recently announced a quarterly dividend of $0.35, representing a 2.2% yield, with stockholders of record to be paid on August 28th.

Corebridge Financial Inc. lowered its stake in shares of Carlyle Group Inc. (NASDAQ:CG - Free Report) by 2.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 233,146 shares of the financial services provider's stock after selling 5,697 shares during the period. Corebridge Financial Inc. owned approximately 0.06% of Carlyle Group worth $10,163,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Carlyle Group by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 24,292,937 shares of the financial services provider's stock worth $1,058,929,000 after purchasing an additional 1,131,514 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Carlyle Group by 7.5% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 6,827,559 shares of the financial services provider's stock worth $297,613,000 after purchasing an additional 476,127 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Carlyle Group by 21.7% during the 1st quarter. Ameriprise Financial Inc. now owns 2,722,737 shares of the financial services provider's stock worth $118,684,000 after purchasing an additional 485,488 shares during the period. Frontier Capital Management Co. LLC boosted its position in shares of Carlyle Group by 98.8% during the 4th quarter. Frontier Capital Management Co. LLC now owns 2,455,963 shares of the financial services provider's stock worth $124,002,000 after purchasing an additional 1,220,827 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Carlyle Group by 14.9% during the 4th quarter. Northern Trust Corp now owns 2,205,181 shares of the financial services provider's stock worth $111,340,000 after purchasing an additional 285,935 shares during the period. Hedge funds and other institutional investors own 55.88% of the company's stock.

Insider Buying and Selling at Carlyle Group

In other news, General Counsel Jeffrey W. Ferguson sold 202,606 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $64.23, for a total value of $13,013,383.38. Following the sale, the general counsel directly owned 753,255 shares in the company, valued at approximately $48,381,568.65. This trade represents a 21.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 26.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Barclays reissued an "overweight" rating and issued a $74.00 price target (up previously from $66.00) on shares of Carlyle Group in a research report on Thursday, August 7th. Cowen raised shares of Carlyle Group from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. JMP Securities raised their price target on shares of Carlyle Group from $70.00 to $75.00 and gave the company a "market outperform" rating in a research report on Thursday, August 14th. Citigroup reissued an "outperform" rating on shares of Carlyle Group in a research report on Thursday, August 14th. Finally, Wells Fargo & Company raised their price target on shares of Carlyle Group from $49.00 to $61.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Six 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 company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $59.93.

Carlyle Group Price Performance

Shares of CG opened at $64.72 on Thursday. Carlyle Group Inc. has a twelve month low of $33.02 and a twelve month high of $65.97. The firm's fifty day simple moving average is $58.80 and its 200-day simple moving average is $48.96. The firm has a market capitalization of $23.41 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 1.18 and a beta of 1.90. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 1.52.

Carlyle Group Dividend Announcement

The company 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 $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Monday, August 18th. Carlyle Group's dividend payout ratio (DPR) is presently 40.94%.

Carlyle Group 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.

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