Northwestern Mutual Wealth Management Co. Purchases 8,066 Shares of Carlyle Group Inc. $CG

Key Points

• Northwestern Mutual Wealth Management Co. increased its holdings in Carlyle Group by 10.1%, acquiring an additional 8,066 shares, bringing its total to 87,859 shares valued at $3,830,000.
• Multiple institutional investors, including Ameriprise Financial and Aberdeen Group, also significantly increased their positions in Carlyle Group during the first quarter of the year, reflecting confidence in the firm's growth prospects.
• Carlyle Group has received positive analyst ratings, with upgrades leading to an average target price of $59.93, including a recent upgrade from TD Cowen to a "buy" rating.

Northwestern Mutual Wealth Management Co. grew its holdings in Carlyle Group Inc. (NASDAQ:CG - Free Report) by 10.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 87,859 shares of the financial services provider's stock after purchasing an additional 8,066 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Carlyle Group were worth $3,830,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Teacher Retirement System of Texas purchased a new stake in shares of Carlyle Group during the first quarter worth approximately $1,481,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Carlyle Group by 105.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 10,929 shares of the financial services provider's stock valued at $476,000 after purchasing an additional 5,611 shares in the last quarter. Private Trust Co. NA lifted its position in shares of Carlyle Group by 101.9% during the 1st quarter. Private Trust Co. NA now owns 636 shares of the financial services provider's stock worth $28,000 after purchasing an additional 321 shares during the last quarter. Bessemer Group Inc. increased its holdings in Carlyle Group by 247.7% in the first quarter. Bessemer Group Inc. now owns 1,217 shares of the financial services provider's stock valued at $53,000 after buying an additional 867 shares during the last quarter. Finally, Catalyst Capital Advisors LLC lifted its holdings in Carlyle Group by 83.3% during the 1st quarter. Catalyst Capital Advisors LLC now owns 11,000 shares of the financial services provider's stock worth $479,000 after buying an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 55.88% of the company's stock.

Insider Buying and Selling at Carlyle Group

In related news, General Counsel Jeffrey W. Ferguson sold 202,606 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $64.23, for a total value of $13,013,383.38. Following the transaction, the general counsel owned 753,255 shares in the company, valued at $48,381,568.65. This trade represents a 21.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 26.30% of the stock is currently owned by insiders.

Carlyle Group Stock Performance

Shares of NASDAQ CG traded down $0.46 during trading hours on Wednesday, hitting $63.97. 251,048 shares of the company's stock were exchanged, compared to its average volume of 2,813,430. Carlyle Group Inc. has a 1-year low of $33.02 and a 1-year high of $65.97. The company's 50-day moving average price is $60.16 and its 200-day moving average price is $49.33. The stock has a market capitalization of $23.14 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 1.17 and a beta of 2.01. The company has a debt-to-equity ratio of 1.52, a current ratio of 2.24 and a quick ratio of 2.24.

Carlyle Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Monday, August 18th were paid a $0.35 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.2%. Carlyle Group's payout ratio is currently 40.94%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CG shares. Citigroup restated an "outperform" rating on shares of Carlyle Group in a research note on Thursday, August 14th. JMP Securities increased their price objective on Carlyle Group from $70.00 to $75.00 and gave the company a "market outperform" rating in a report on Thursday, August 14th. Cowen upgraded shares of Carlyle Group from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. TD Cowen raised shares of Carlyle Group from a "hold" rating to a "buy" rating and set a $56.00 price objective on the stock in a research report on Wednesday, May 14th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Carlyle Group from $43.00 to $45.00 and gave the stock a "market perform" rating in a research note on Monday, May 12th. Six analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $59.93.

About Carlyle Group

The Carlyle Group Inc is an investment firm specializing in direct and fund of fund investments. Within direct investments, it specializes in management-led/ Leveraged buyouts, privatizations, divestitures, strategic minority equity investments, structured credit, global distressed and corporate opportunities, small and middle market, equity private placements, consolidations and buildups, senior debt, mezzanine and leveraged finance, and venture and growth capital financings, seed/startup, early venture, emerging growth, turnaround, mid venture, late venture, PIPES.