Legal & General Group Plc Purchases New Stake in Carlyle Group Inc. $CG

Key Points

• Legal & General Group Plc acquired 3.87 million Carlyle Group shares worth approximately $163 million, giving it a 1.09% stake. Institutional investors and hedge funds collectively own 55.88% of CG.
• Carlyle reported quarterly adjusted earnings of $1.07 per share, beating estimates of $0.91, while revenue reached $1.11 billion. However, revenue declined 28.6% year over year.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $59.31. Carlyle also maintains a $0.35 quarterly dividend, equivalent to a 2.9% annual yield.

Legal & General Group Plc acquired a new position in Carlyle Group Inc. (NASDAQ:CG - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,870,443 shares of the financial services provider's stock, valued at approximately $162,984,000. Legal & General Group Plc owned 1.09% of Carlyle Group at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of CG. AQR Capital Management LLC grew its position in shares of Carlyle Group by 937.5% during the 1st quarter. AQR Capital Management LLC now owns 57,335 shares of the financial services provider's stock valued at $2,499,000 after buying an additional 51,809 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Carlyle Group by 40.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,144,974 shares of the financial services provider's stock valued at $49,909,000 after acquiring an additional 332,533 shares during the period. Empowered Funds LLC grew its holdings in shares of Carlyle Group by 3.4% during the first quarter. Empowered Funds LLC now owns 48,237 shares of the financial services provider's stock valued at $2,103,000 after purchasing an additional 1,579 shares during the last quarter. Focus Partners Wealth raised its position in shares of Carlyle Group by 27.4% during the 1st quarter. Focus Partners Wealth now owns 5,434 shares of the financial services provider's stock worth $237,000 after purchasing an additional 1,169 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Carlyle Group by 755.3% in the 1st 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 during the last quarter. 55.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CG has been the topic of several analyst reports. UBS Group increased their target price on Carlyle Group from $63.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. lowered their price target on shares of Carlyle Group from $66.00 to $63.00 and set a "neutral" rating for the company in a research report on Friday, May 8th. Cfra downgraded shares of Carlyle Group to a "sell" rating and set a $45.00 price objective on the stock. in a research report on Friday, May 8th. 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 report on Monday, July 13th. Finally, Citizens Jmp raised their price target on shares of Carlyle Group from $70.00 to $73.00 and gave the company a "market outperform" rating in a research note on Thursday, August 6th. Seven analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $59.31.

Carlyle Group Stock Performance

Shares of CG opened at $48.99 on Thursday. Carlyle Group Inc. has a 52-week low of $39.60 and a 52-week high of $69.85. The firm has a market capitalization of $17.46 billion, a PE ratio of 51.03, a P/E/G ratio of 1.50 and a beta of 1.83. The firm has a 50-day moving average price of $45.89 and a 200 day moving average price of $47.78. The company has a quick ratio of 2.35, a current 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 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.16. Carlyle Group had a net margin of 10.08% and a return on equity of 22.52%. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $923.50 million. During the same period in the prior year, the business posted $0.87 EPS. The business's revenue for the quarter was down 28.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Carlyle Group Inc. will post 3.69 earnings per share for the current fiscal year.

Carlyle Group Dividend Announcement

The company also recently declared 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. This represents a $1.40 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Monday, August 17th. Carlyle Group's dividend payout ratio (DPR) is presently 145.83%.

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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