Legal & General Group Plc Sells 283,380 Shares of Carlyle Group Inc. $CG

Key Points

• Legal & General Group Plc cut its stake in Carlyle by 8.4%, selling 283,380 shares and now holds 3,083,600 shares (about 0.85%) valued at roughly $193.34 million.
• Carlyle's latest quarter showed a slight EPS miss ($1.01 vs. $1.04) but revenue jumped 84.1% to $1.90 billion, and the stock traded down about 3.8% to $45.31.
• Carlyle pays a $0.35 quarterly dividend (annualized $1.40, yield ~3.1%), and analysts' consensus is a Hold with an average price target of $65.36 amid mixed buy/hold ratings.

Legal & General Group Plc cut its stake in Carlyle Group Inc. (NASDAQ:CG - Free Report) by 8.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,083,600 shares of the financial services provider's stock after selling 283,380 shares during the quarter. Legal & General Group Plc owned about 0.85% of Carlyle Group worth $193,342,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CG. WINTON GROUP Ltd purchased a new position in shares of Carlyle Group during the third quarter valued at about $539,000. Schroder Investment Management Group lifted its holdings in Carlyle Group by 119.4% in the third quarter. Schroder Investment Management Group now owns 9,843 shares of the financial services provider's stock worth $617,000 after buying an additional 5,357 shares during the period. Inceptionr LLC purchased a new position in shares of Carlyle Group during the 3rd quarter worth approximately $1,440,000. Private Advisor Group LLC raised its position in shares of Carlyle Group by 64.9% in the 3rd quarter. Private Advisor Group LLC now owns 8,752 shares of the financial services provider's stock worth $549,000 after acquiring an additional 3,444 shares in the last quarter. Finally, Vinva Investment Management Ltd purchased a new position in shares of Carlyle Group in the 3rd quarter valued at approximately $225,000. Institutional investors own 55.88% of the company's stock.

Carlyle Group Trading Down 3.8%

Shares of NASDAQ CG opened at $45.31 on Friday. The firm's 50 day moving average price is $57.45 and its 200-day moving average price is $58.65. Carlyle Group Inc. has a 52-week low of $33.02 and a 52-week high of $69.85. The company has a debt-to-equity ratio of 1.90, a quick ratio of 2.33 and a current ratio of 2.33. The company has a market cap of $16.36 billion, a PE ratio of 20.78, a P/E/G ratio of 0.90 and a beta of 2.07.

Carlyle Group (NASDAQ:CG - Get Free Report) last announced its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.03). The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.09 billion. Carlyle Group had a net margin of 16.92% and a return on equity of 23.62%. Carlyle Group's revenue was up 84.1% on a year-over-year basis. During the same period last year, the business earned $0.92 EPS. On average, equities research analysts expect that Carlyle Group Inc. will post 4.48 EPS for the current fiscal year.

Carlyle Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Monday, February 16th were paid a $0.35 dividend. The ex-dividend date was Friday, February 13th. This represents a $1.40 annualized dividend and a dividend yield of 3.1%. Carlyle Group's payout ratio is currently 64.22%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Barclays decreased their price objective on Carlyle Group from $71.00 to $68.00 and set an "overweight" rating for the company in a report on Monday, March 2nd. Wolfe Research reaffirmed an "outperform" rating on shares of Carlyle Group in a research report on Wednesday, January 7th. Royal Bank Of Canada started coverage on shares of Carlyle Group in a research report on Monday, February 23rd. They set an "outperform" rating and a $67.00 price target for the company. JPMorgan Chase & Co. raised their target price on shares of Carlyle Group from $66.00 to $67.00 and gave the company a "neutral" rating in a research note on Tuesday, February 10th. Finally, UBS Group dropped their price target on Carlyle Group from $81.00 to $65.00 and set a "buy" rating on the stock in a research report on Friday, February 20th. Eight analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Carlyle Group currently has a consensus rating of "Hold" and an average price target of $65.36.

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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