Fifth Third Bancorp Raises Stake in Carlyle Group Inc. $CG

Key Points

• Fifth Third Bancorp boosted its Carlyle Group stake by 56.1% in the first quarter, buying 65,544 additional shares and bringing its holding to 182,418 shares valued at about $8.83 million.
• Analysts remain cautious overall on Carlyle: several firms cut price targets, and the stock carries a consensus rating of “Hold” with an average target price of $60.71.
• Carlyle’s latest results fell short of expectations, with quarterly EPS of $0.89 versus $0.91 expected and revenue of $750.9 million versus $1.01 billion estimated; the company also pays a $0.35 quarterly dividend, yielding about 3.0%.

Fifth Third Bancorp lifted its stake in shares of Carlyle Group Inc. (NASDAQ:CG - Free Report) by 56.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 182,418 shares of the financial services provider's stock after acquiring an additional 65,544 shares during the period. Fifth Third Bancorp owned 0.05% of Carlyle Group worth $8,827,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CG. Bernard Wealth Management Corp. acquired a new position in Carlyle Group in the fourth quarter valued at about $30,000. WFA of San Diego LLC acquired a new position in shares of Carlyle Group in the 2nd quarter worth approximately $26,000. Quarry LP purchased a new position in shares of Carlyle Group during the 3rd quarter worth approximately $33,000. Brown Brothers Harriman & Co. acquired a new stake in Carlyle Group in the 3rd quarter valued at approximately $41,000. Finally, Geneos Wealth Management Inc. lifted its stake in Carlyle Group by 755.3% during the first quarter. Geneos Wealth Management Inc. now owns 650 shares of the financial services provider's stock worth $28,000 after purchasing an additional 574 shares in the last quarter. 55.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. lowered their target price on Carlyle Group from $66.00 to $63.00 and set a "neutral" rating for the company in a report on Friday, May 8th. BMO Capital Markets reissued an "outperform" rating and issued a $52.00 price objective on shares of Carlyle Group in a research note on Monday. Citizens Jmp cut their target price on shares of Carlyle Group from $75.00 to $70.00 and set a "market outperform" rating on the stock in a research note on Thursday, July 9th. The Goldman Sachs Group reduced their target price on shares of Carlyle Group from $81.00 to $69.00 and set a "buy" rating on the stock in a report on Tuesday, April 7th. Finally, Royal Bank Of Canada dropped their price target on shares of Carlyle Group from $58.00 to $56.00 and set a "sector perform" rating for the company in a research note on Monday. Seven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Carlyle Group has a consensus rating of "Hold" and an average target price of $60.71.

Carlyle Group Trading Up 1.4%

CG opened at $46.11 on Thursday. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 1.92. Carlyle Group Inc. has a 52 week low of $39.60 and a 52 week high of $69.85. The business's 50 day moving average is $45.00 and its two-hundred day moving average is $50.82. The firm has a market cap of $16.60 billion, a price-to-earnings ratio of 31.58, a price-to-earnings-growth ratio of 1.52 and a beta of 1.84.

Carlyle Group (NASDAQ:CG - Get Free Report) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.02). The company had revenue of $750.90 million during the quarter, compared to analysts' expectations of $1.01 billion. Carlyle Group had a net margin of 13.46% and a return on equity of 20.95%. The company's revenue for the quarter was down 28.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.14 earnings per share. On average, research analysts predict that Carlyle Group Inc. will post 3.9 EPS for the current year.

Carlyle Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Monday, May 18th were issued a $0.35 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.40 annualized dividend and a yield of 3.0%. Carlyle Group's dividend payout ratio is 95.89%.

About Carlyle Group

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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