Equitable Trust Co. Cuts Stock Position in Carlyle Group Inc. (NASDAQ:CG)

Key Points

• Equitable Trust Co. reduced its holdings in Carlyle Group by 10.8%, now owning 88,061 shares valued at approximately $3.84 million.
• Several institutional investors, including Vanguard Group and Capital World Investors, have increased their positions in Carlyle Group during the last quarter, reflecting ongoing institutional interest.
• Carlyle Group's latest earnings report showed a quarterly EPS of $1.14, exceeding analysts' estimates and a 2.0% year-over-year revenue increase.

Equitable Trust Co. lowered its position in Carlyle Group Inc. (NASDAQ:CG - Free Report) by 10.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 88,061 shares of the financial services provider's stock after selling 10,645 shares during the period. Equitable Trust Co.'s holdings in Carlyle Group were worth $3,839,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Carlyle Group by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 23,161,423 shares of the financial services provider's stock worth $1,169,420,000 after purchasing an additional 180,757 shares during the last quarter. Capital World Investors grew its position in Carlyle Group by 0.3% during the 4th quarter. Capital World Investors now owns 19,778,358 shares of the financial services provider's stock worth $998,609,000 after purchasing an additional 50,784 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in 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 last quarter. Frontier Capital Management Co. LLC grew its position in 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 last quarter. Finally, Ameriprise Financial Inc. grew its position in Carlyle Group by 8.1% during the 4th quarter. Ameriprise Financial Inc. now owns 2,237,249 shares of the financial services provider's stock worth $112,959,000 after purchasing an additional 167,331 shares during the last quarter. Hedge funds and other institutional investors own 55.88% of the company's stock.

Analyst Ratings Changes

CG has been the subject of several research reports. Keefe, Bruyette & Woods lifted 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 note on Monday, May 12th. JMP Securities lifted their price objective on shares of Carlyle Group from $58.00 to $70.00 and gave the company a "market outperform" rating in a research note on Monday, July 14th. Cowen upgraded shares of Carlyle Group from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Morgan Stanley decreased their price objective on shares of Carlyle Group from $57.00 to $44.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. Finally, Citigroup upgraded shares of Carlyle Group from a "neutral" rating to a "buy" rating and boosted their target price for the company from $44.00 to $65.00 in a research note on Thursday, July 10th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Carlyle Group presently has a consensus rating of "Hold" and an average price target of $57.73.

Carlyle Group Trading Up 2.1%

Shares of CG opened at $62.31 on Friday. 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 12-month low of $33.02 and a 12-month high of $62.92. The firm has a 50-day moving average price of $50.74 and a 200 day moving average price of $47.54. The firm has a market capitalization of $22.50 billion, a P/E ratio of 21.12, a P/E/G ratio of 1.18 and a beta of 1.86.

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

Carlyle Group Company 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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