Envestnet Portfolio Solutions Inc. Reduces Stake in Carlyle Group Inc. (NASDAQ:CG)

Envestnet Portfolio Solutions Inc. decreased its holdings in Carlyle Group Inc. (NASDAQ:CG - Free Report) by 42.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,194 shares of the financial services provider's stock after selling 5,398 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Carlyle Group were worth $314,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. National Pension Service bought a new position in shares of Carlyle Group during the 4th quarter valued at $25,000. Whipplewood Advisors LLC increased its position in Carlyle Group by 5,100.0% during the first quarter. Whipplewood Advisors LLC now owns 572 shares of the financial services provider's stock worth $25,000 after acquiring an additional 561 shares during the period. Main Street Group LTD bought a new stake in shares of Carlyle Group in the fourth quarter valued at about $29,000. LRI Investments LLC acquired a new stake in shares of Carlyle Group during the 4th quarter valued at about $32,000. Finally, Farther Finance Advisors LLC raised its holdings in shares of Carlyle Group by 117.2% in the 1st quarter. Farther Finance Advisors LLC now owns 973 shares of the financial services provider's stock worth $43,000 after buying an additional 525 shares in the last quarter. 55.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CG shares. Barclays upped their price objective on Carlyle Group from $43.00 to $49.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Wells Fargo & Company increased their price target on Carlyle Group from $45.00 to $49.00 and gave the stock an "equal weight" rating in a report on Friday, May 23rd. TD Cowen raised Carlyle Group from a "hold" rating to a "buy" rating and set a $56.00 price target on the stock in a research note on Wednesday, May 14th. Keefe, Bruyette & Woods lifted their target price on Carlyle Group from $43.00 to $45.00 and gave the company a "market perform" rating in a research report on Monday, May 12th. Finally, JMP Securities reduced their price target on Carlyle Group from $62.00 to $58.00 and set a "market outperform" rating for the company in a report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Carlyle Group has an average rating of "Hold" and a consensus target price of $53.00.

Carlyle Group Stock Up 2.9%

CG stock traded up $1.51 during trading on Wednesday, reaching $54.33. 1,330,880 shares of the stock were exchanged, compared to its average volume of 2,637,615. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 1.56. Carlyle Group Inc. has a twelve month low of $33.02 and a twelve month high of $57.50. The firm's 50 day moving average is $44.99 and its 200 day moving average is $46.67. The firm has a market cap of $19.62 billion, a P/E ratio of 18.48, a price-to-earnings-growth ratio of 1.10 and a beta of 1.86.

Carlyle Group (NASDAQ:CG - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The financial services provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.17. Carlyle Group had a net margin of 19.00% and a return on equity of 23.78%. The business had revenue of $973.10 million for the quarter, compared to analysts' expectations of $972.27 million. During the same quarter last year, the firm earned $1.01 EPS. The firm's revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, research analysts forecast that Carlyle Group Inc. will post 4.48 EPS for the current year.

Carlyle Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Monday, May 19th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend was Monday, May 19th. Carlyle Group's payout ratio is 47.46%.

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.