DNB Asset Management AS Reduces Holdings in Carlyle Group Inc. $CG

Key Points

• DNB Asset Management AS trimmed its Carlyle Group stake by 8.3% in the fourth quarter, selling 21,902 shares and leaving it with 242,813 shares worth about $14.35 million.
• Analysts have turned more cautious on CG, with multiple firms cutting price targets and TD Cowen downgrading the stock to hold; the consensus rating is now Hold with an average target of $62.20.
• Carlyle reported weaker quarterly results, missing both EPS and revenue estimates, while the company also announced a $0.35 quarterly dividend, equal to a 2.9% annualized yield.

DNB Asset Management AS lowered its position in shares of Carlyle Group Inc. (NASDAQ:CG - Free Report) by 8.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 242,813 shares of the financial services provider's stock after selling 21,902 shares during the period. DNB Asset Management AS owned approximately 0.07% of Carlyle Group worth $14,353,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CG. State Street Corp raised its stake in shares of Carlyle Group by 20.9% during the third quarter. State Street Corp now owns 9,942,135 shares of the financial services provider's stock valued at $623,372,000 after purchasing an additional 1,720,483 shares during the period. Balyasny Asset Management L.P. purchased a new stake in shares of Carlyle Group during the third quarter valued at approximately $75,612,000. Vanguard Group Inc. raised its stake in shares of Carlyle Group by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 26,368,246 shares of the financial services provider's stock valued at $1,558,627,000 after purchasing an additional 934,237 shares during the period. Moore Capital Management LP purchased a new stake in shares of Carlyle Group during the third quarter valued at approximately $42,014,000. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Carlyle Group by 6.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,618,075 shares of the financial services provider's stock valued at $477,653,000 after purchasing an additional 479,216 shares during the period. Hedge funds and other institutional investors own 55.88% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CG. TD Cowen lowered shares of Carlyle Group from a "buy" rating to a "hold" rating and dropped their price objective for the company from $54.00 to $53.00 in a research note on Friday, May 8th. Morgan Stanley decreased their price target on shares of Carlyle Group from $71.00 to $66.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 21st. BMO Capital Markets decreased their price target on shares of Carlyle Group from $65.00 to $58.00 and set an "outperform" rating for the company in a research report on Tuesday, March 24th. Weiss Ratings downgraded shares of Carlyle Group from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, May 11th. Finally, UBS Group decreased their price target on shares of Carlyle Group from $81.00 to $65.00 and set a "buy" rating for the company in a research report on Friday, February 20th. Seven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $62.20.

Carlyle Group Price Performance

CG stock opened at $48.02 on Monday. The company has a market capitalization of $17.29 billion, a P/E ratio of 32.89, a PEG ratio of 1.63 and a beta of 1.89. The firm has a 50 day simple moving average of $48.63 and a 200-day simple moving average of $54.20. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 1.92. Carlyle Group Inc. has a twelve month low of $43.19 and a twelve month high of $69.85.

Carlyle Group (NASDAQ:CG - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.89 EPS for the quarter, missing analysts' consensus estimates of $0.91 by ($0.02). The business had revenue of $750.90 million during the quarter, compared to analyst estimates of $1.01 billion. Carlyle Group had a return on equity of 20.95% and a net margin of 13.46%.The business's revenue for the quarter was down 28.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.14 EPS. On average, equities research analysts predict that Carlyle Group Inc. will post 4.04 earnings per share for the current fiscal year.

Carlyle Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Monday, May 18th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, May 18th. Carlyle Group's payout ratio is currently 95.89%.

Insider Buying and Selling

In other Carlyle Group news, Director David M. Rubenstein sold 500,000 shares of Carlyle Group stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $46.68, for a total value of $23,340,000.00. Following the completion of the transaction, the director owned 27,399,644 shares of the company's stock, valued at $1,279,015,381.92. The trade was a 1.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 26.30% of the stock is currently owned by corporate insiders.

Carlyle Group Company Profile

The Carlyle Group NASDAQ: CG is a global alternative asset manager that invests across a range of strategies including private equity, real assets (such as real estate and infrastructure), global credit, and investment solutions. Founded in 1987 and headquartered in Washington, DC, Carlyle raises and manages investment funds that acquire, operate and exit companies and assets on behalf of institutional and private investors. The firm is publicly traded on the Nasdaq exchange and operates as an asset manager and investment advisor rather than as an operating company.

Carlyle's core activities include sourcing and executing private equity buyouts and growth investments, originating and managing credit and financing solutions, and acquiring and operating real asset portfolios.

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