Galvin Gaustad & Stein LLC Sells 38,203 Shares of Carlyle Group Inc. $CG

Key Points

• Galvin Gaustad & Stein LLC cut its Carlyle Group stake by 18.4%, selling 38,203 shares and retaining 169,328 shares valued at approximately $6.7 million. Institutional investors overall own 55.88% of the company.
• Analyst sentiment is mixed, with eight Buy, eight Hold, and one Sell rating; the consensus rating is Hold with an average price target of $56.60.
• Carlyle reported quarterly earnings of $1.07 per share, beating estimates of $0.91, while revenue fell 28.6% year over year. The company also maintains a quarterly dividend of $0.35 per share, implying a 3.6% annualized yield.

Galvin Gaustad & Stein LLC lowered its stake in shares of Carlyle Group Inc. (NASDAQ:CG - Free Report) by 18.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 169,328 shares of the financial services provider's stock after selling 38,203 shares during the period. Galvin Gaustad & Stein LLC's holdings in Carlyle Group were worth $6,716,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its holdings in Carlyle Group by 30.8% in the third quarter. Farther Finance Advisors LLC now owns 10,615 shares of the financial services provider's stock valued at $421,000 after acquiring an additional 2,500 shares during the last quarter. Moody National Bank Trust Division increased its stake in Carlyle Group by 36.1% during the third quarter. Moody National Bank Trust Division now owns 24,272 shares of the financial services provider's stock worth $963,000 after acquiring an additional 6,432 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Carlyle Group by 22.7% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,254 shares of the financial services provider's stock valued at $221,000 after purchasing an additional 971 shares in the last quarter. National Pension Service increased its position in Carlyle Group by 4.1% during the 2nd quarter. National Pension Service now owns 15,875 shares of the financial services provider's stock worth $668,000 after purchasing an additional 627 shares in the last quarter. Finally, GFG Capital LLC raised its holdings in Carlyle Group by 4.3% in the second quarter. GFG Capital LLC now owns 51,942 shares of the financial services provider's stock valued at $2,187,000 after buying an additional 2,131 shares during the period. 55.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CG shares. Barclays dropped their price objective on shares of Carlyle Group from $64.00 to $53.00 and set an "overweight" rating for the company in a research report on Thursday. Wells Fargo & Company began coverage on Carlyle Group in a research report on Friday, October 2nd. They issued an "equal weight" rating and a $43.00 price objective on the stock. BMO Capital Markets reaffirmed an "outperform" rating and issued a $52.00 target price on shares of Carlyle Group in a research report on Monday, July 13th. Piper Sandler started coverage on Carlyle Group in a report on Thursday, September 24th. They set an "overweight" rating and a $54.00 target price on the stock. Finally, TD Cowen reissued a "hold" rating on shares of Carlyle Group in a research report on Thursday, August 6th. Eight research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $56.60.

Insider Activity at Carlyle Group

In other news, Director David Rubenstein sold 400,000 shares of Carlyle Group stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $42.74, for a total value of $17,096,000.00. Following the completion of the transaction, the director directly owned 26,899,644 shares of the company's stock, valued at approximately $1,149,690,784.56. The trade was a 1.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 25.40% of the company's stock.

Carlyle Group Stock Up 1.6%

Shares of NASDAQ:CG opened at $38.39 on Friday. The company has a fifty day simple moving average of $44.86 and a 200 day simple moving average of $45.80. The firm has a market cap of $13.68 billion, a PE ratio of 39.99, a price-to-earnings-growth ratio of 1.11 and a beta of 1.88. Carlyle Group Inc. has a 12-month low of $37.08 and a 12-month high of $67.30. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 1.91.

Carlyle Group (NASDAQ:CG - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $0.91 by $0.16. Carlyle Group had a net margin of 10.08% and a return on equity of 22.52%. The business had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $923.50 million. During the same quarter last year, the company posted $0.87 earnings per share. The company's quarterly revenue was down 28.6% compared to the same quarter last year. On average, equities research analysts anticipate that Carlyle Group Inc. will post 3.58 EPS for the current fiscal year.

Carlyle Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Monday, August 17th were paid a dividend of $0.35 per share. The ex-dividend date was Monday, August 17th. This represents a $1.40 annualized dividend and a yield of 3.6%. Carlyle Group's payout ratio is presently 145.83%.

Carlyle Group Company Profile

The Carlyle Group Inc is a global alternative asset management firm that invests across private equity, credit and investment solutions. The company manages funds and investment vehicles for institutional investors, private wealth clients and other investors, with strategies focused on private markets and long-term value creation.

Carlyle's investment activities include corporate buyouts, growth capital, middle-market lending, structured credit, real assets and secondaries. Through its investment solutions business, the firm also provides access to private-market strategies and manages portfolios of private equity interests and other alternative investments.

Founded in 1987 by William E.

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