Geode Capital Management LLC Grows Holdings in Carlyle Group Inc. $CG

Key Points

• Geode Capital Management increased its Carlyle Group stake by 1.6% in the fourth quarter, ending with 4,999,880 shares worth about $294.8 million. The filing shows Geode now owns roughly 1.39% of the company.
• Institutional ownership remains high, with hedge funds and other institutional investors controlling 55.88% of Carlyle Group shares. Notable holders also adjusted positions, including State Street and Vanguard adding shares.
• Shares are under pressure after Carlyle reported weaker-than-expected quarterly results and analysts trimmed outlooks. The stock traded around $45.10, near its 12-month low, while the consensus rating remains Hold with a $62 price target.

Geode Capital Management LLC grew its stake in Carlyle Group Inc. (NASDAQ:CG - Free Report) by 1.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,999,880 shares of the financial services provider's stock after acquiring an additional 79,134 shares during the period. Geode Capital Management LLC owned about 1.39% of Carlyle Group worth $294,817,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CG. State Street Corp raised its stake in shares of Carlyle Group by 20.9% in the 3rd quarter. State Street Corp now owns 9,942,135 shares of the financial services provider's stock valued at $623,372,000 after acquiring an additional 1,720,483 shares during the period. Balyasny Asset Management L.P. purchased a new stake in Carlyle Group during the 3rd quarter worth approximately $75,612,000. Vanguard Group Inc. increased its stake in Carlyle Group by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 26,368,246 shares of the financial services provider's stock worth $1,558,627,000 after buying an additional 934,237 shares during the period. Algebris UK Ltd. purchased a new stake in Carlyle Group during the 4th quarter worth approximately $50,459,000. Finally, Moore Capital Management LP purchased a new stake in Carlyle Group during the 3rd quarter worth approximately $42,014,000. 55.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director David M. Rubenstein sold 500,000 shares of the company's 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 sale, the director owned 27,399,644 shares in the company, valued at $1,279,015,381.92. This represents a 1.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 25.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CG. Wall Street Zen downgraded shares of Carlyle Group from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Weiss Ratings downgraded shares of Carlyle Group from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, May 11th. JPMorgan Chase & Co. cut their target price on shares of Carlyle Group from $66.00 to $63.00 and set a "neutral" rating on the stock in a research note on Friday, May 8th. Morgan Stanley lowered 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 report on Tuesday, April 21st. Finally, The Goldman Sachs Group lowered their price target on shares of Carlyle Group from $81.00 to $69.00 and set a "buy" rating for the company in a report on Tuesday, April 7th. Seven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $62.00.

Carlyle Group Trading Down 0.7%

Shares of Carlyle Group stock opened at $45.10 on Tuesday. The company has a fifty day simple moving average of $48.12 and a 200-day simple moving average of $53.56. Carlyle Group Inc. has a 12-month low of $43.98 and a 12-month high of $69.85. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 1.92. The stock has a market cap of $16.23 billion, a price-to-earnings ratio of 30.89, a PEG ratio of 1.55 and a beta of 1.84.

Carlyle Group (NASDAQ:CG - Get Free Report) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.02). Carlyle Group had a net margin of 13.46% and a return on equity of 20.95%. The company had revenue of $750.90 million during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the company posted $1.14 EPS. The company's quarterly revenue was down 28.0% on a year-over-year basis. On average, equities analysts forecast that Carlyle Group Inc. will post 4.05 EPS for the current fiscal year.

Carlyle Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Monday, May 18th were given a $0.35 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.40 annualized dividend and a yield of 3.1%. Carlyle Group's dividend payout ratio is 95.89%.

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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