Corebridge Financial Inc. Sells 5,697 Shares of 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. reduced its holdings in Carlyle Group Inc. (NASDAQ:CG - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 233,146 shares of the financial services provider's stock after selling 5,697 shares during the period. Corebridge Financial Inc. owned about 0.06% of Carlyle Group worth $10,163,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Main Street Group LTD acquired a new stake in shares of Carlyle Group during the fourth quarter worth approximately $29,000. Whipplewood Advisors LLC lifted its position in Carlyle Group by 5,100.0% in the 1st quarter. Whipplewood Advisors LLC now owns 572 shares of the financial services provider's stock worth $25,000 after buying an additional 561 shares in the last quarter. LRI Investments LLC purchased a new position in shares of Carlyle Group during the 4th quarter valued at $32,000. Private Trust Co. NA increased its stake in shares of Carlyle Group by 101.9% in the first quarter. Private Trust Co. NA now owns 636 shares of the financial services provider's stock worth $28,000 after acquiring an additional 321 shares during the last quarter. Finally, National Pension Service boosted its position in Carlyle Group by 74.8% during the first quarter. National Pension Service now owns 869 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 372 shares during the last quarter. Institutional investors and hedge funds own 55.88% of the company's stock.

Insider Buying and Selling at Carlyle Group

In related news, General Counsel Jeffrey W. Ferguson sold 202,606 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $64.23, for a total transaction of $13,013,383.38. Following the completion of the sale, the general counsel owned 753,255 shares in the company, valued at $48,381,568.65. This represents a 21.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 26.30% of the company's stock.

Carlyle Group Stock Performance

Shares of NASDAQ CG traded down $0.13 during trading hours on Tuesday, hitting $64.43. 2,951,137 shares of the stock were exchanged, compared to its average volume of 2,702,403. The firm has a market capitalization of $23.30 billion, a P/E ratio of 18.84, a P/E/G ratio of 1.17 and a beta of 2.01. Carlyle Group Inc. has a one year low of $33.02 and a one year high of $65.97. The company has a debt-to-equity ratio of 1.52, a current ratio of 2.24 and a quick ratio of 2.24. The company's 50 day moving average is $60.16 and its 200 day moving average is $49.33.

Carlyle Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Monday, August 18th were paid a $0.35 dividend. The ex-dividend date was Monday, August 18th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.2%. Carlyle Group's payout ratio is presently 40.94%.

Analysts Set New Price Targets

Several research analysts have weighed in on CG shares. Cowen raised Carlyle Group from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Keefe, Bruyette & Woods raised their price objective on shares of Carlyle Group from $43.00 to $45.00 and gave the company a "market perform" rating in a research 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 target price for the company 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 report on Thursday, August 14th. Finally, Jefferies Financial Group upped their price objective on shares of Carlyle Group from $54.00 to $66.00 and gave the stock a "hold" rating in a report on Wednesday, August 13th. Six equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Carlyle Group currently has a consensus rating of "Hold" and a consensus price target of $59.93.

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.