Illinois Municipal Retirement Fund Has $1.68 Million Stake in Carlyle Group Inc. $CG

Key Points

• Illinois Municipal Retirement Fund cut its stake in Carlyle Group by 49.2% in the first quarter, leaving it with 34,701 shares valued at about $1.68 million.
• Carlyle Group reported mixed quarterly results, with EPS of $0.89 missing estimates and revenue of $750.9 million falling well below expectations; revenue also declined 28% from a year earlier.
• The stock was trading around $44.61, while analysts maintained a Hold consensus with an average price target of $60.07; the company also paid a quarterly dividend of $0.35 per share for a 3.1% yield.

Illinois Municipal Retirement Fund trimmed its position in Carlyle Group Inc. (NASDAQ:CG - Free Report) by 49.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,701 shares of the financial services provider's stock after selling 33,594 shares during the period. Illinois Municipal Retirement Fund's holdings in Carlyle Group were worth $1,679,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CG. Vanguard Group Inc. boosted its position 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 acquiring an additional 934,237 shares during the last quarter. Morgan Stanley lifted its position in shares of Carlyle Group by 0.8% in the fourth quarter. Morgan Stanley now owns 10,189,948 shares of the financial services provider's stock worth $602,328,000 after purchasing an additional 84,228 shares in the last quarter. State Street Corp boosted its holdings in Carlyle Group by 20.9% during the third quarter. State Street Corp now owns 9,942,135 shares of the financial services provider's stock worth $623,372,000 after purchasing an additional 1,720,483 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Carlyle Group by 1.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,735,298 shares of the financial services provider's stock valued at $457,233,000 after purchasing an additional 117,223 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Carlyle Group by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 4,999,880 shares of the financial services provider's stock valued at $294,817,000 after buying an additional 79,134 shares during the last quarter. Institutional investors and hedge funds own 55.88% of the company's stock.

Carlyle Group Trading Down 0.3%

Carlyle Group stock opened at $44.61 on Wednesday. The stock has a 50-day simple moving average of $44.66 and a 200 day simple moving average of $50.41. The stock has a market capitalization of $16.06 billion, a P/E ratio of 30.55, a PEG ratio of 1.54 and a beta of 1.84. The company has a debt-to-equity ratio of 1.92, a quick ratio of 2.55 and a current ratio of 2.55. Carlyle Group Inc. has a 52 week low of $39.60 and a 52 week high of $69.85.

Carlyle Group (NASDAQ:CG - Get Free Report) last released its quarterly earnings data 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 business had revenue of $750.90 million during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the company earned $1.14 EPS. Carlyle Group's quarterly revenue was down 28.0% on a year-over-year basis. Analysts expect that Carlyle Group Inc. will post 3.78 earnings per share for the current year.

Carlyle Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Monday, May 18th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Monday, May 18th. Carlyle Group's payout ratio is 95.89%.

Wall Street Analyst Weigh In

CG has been the subject of a number of recent research reports. Evercore set a $56.00 price objective on shares of Carlyle Group in a research note on Tuesday, April 21st. Cfra cut Carlyle Group to a "sell" rating and set a $45.00 price target for the company. in a research report on Friday, May 8th. Morgan Stanley set a $57.00 price target on Carlyle Group in a research note on Tuesday. BMO Capital Markets reiterated an "outperform" rating and set a $52.00 price objective on shares of Carlyle Group in a research note on Monday, July 13th. Finally, Royal Bank Of Canada decreased their target price 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, July 13th. Seven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $60.07.

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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