Pacer Advisors Inc. Trims Stock Position in Carlyle Group Inc. (NASDAQ:CG)

Key Points

• Pacer Advisors Inc. reduced its holdings in Carlyle Group Inc. by 68.6%, now owning 13,314 shares valued at approximately $580,000 at the end of the 1st quarter.
• Institutional investors and hedge funds collectively own 55.88% of Carlyle Group's stock, with notable changes including new positions and increased stakes by various investment firms in the last quarter.
• Analysts have generally upgraded their outlook on Carlyle Group, with JMP Securities raising the price target to $70.00 and Citigroup upgrading their rating to "buy."

Pacer Advisors Inc. lessened its holdings in shares of Carlyle Group Inc. (NASDAQ:CG - Free Report) by 68.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,314 shares of the financial services provider's stock after selling 29,115 shares during the quarter. Pacer Advisors Inc.'s holdings in Carlyle Group were worth $580,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Main Street Group LTD purchased a new stake in shares of Carlyle Group in the fourth quarter worth about $29,000. Whipplewood Advisors LLC raised its stake in shares of Carlyle Group by 5,100.0% during the first quarter. Whipplewood Advisors LLC now owns 572 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 561 shares during the last quarter. LRI Investments LLC bought a new position in shares of Carlyle Group during the fourth quarter valued at about $32,000. Private Trust Co. NA raised its stake in shares of Carlyle Group by 101.9% during the first quarter. Private Trust Co. NA now owns 636 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 321 shares during the last quarter. Finally, Oarsman Capital Inc. boosted its stake in shares of Carlyle Group by 198.4% during the 4th quarter. Oarsman Capital Inc. now owns 916 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 609 shares in the last quarter. Institutional investors own 55.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CG. Citigroup raised shares of Carlyle Group from a "neutral" rating to a "buy" rating and raised their price target for the company from $44.00 to $65.00 in a research report on Thursday, July 10th. Evercore ISI boosted their price target on Carlyle Group from $45.00 to $58.00 and gave the company an "in-line" rating in a report on Thursday, July 10th. Cowen raised Carlyle Group from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Wells Fargo & Company raised their price target on Carlyle Group from $49.00 to $61.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. Finally, Barclays reissued an "overweight" rating and issued a $64.00 price objective (up from $49.00) on shares of Carlyle Group in a research report on Thursday, July 10th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $57.73.

Carlyle Group Stock Performance

Shares of CG traded down $1.95 during mid-day trading on Friday, reaching $58.71. The company had a trading volume of 2,858,120 shares, compared to its average volume of 2,286,533. Carlyle Group Inc. has a 52-week low of $33.02 and a 52-week high of $63.74. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $21.20 billion, a P/E ratio of 19.90, a PEG ratio of 1.13 and a beta of 1.90. The stock has a 50 day moving average of $52.65 and a two-hundred day moving average of $47.92.

Carlyle Group (NASDAQ:CG - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.17. The firm had revenue of $973.10 million for the quarter, compared to analysts' expectations of $972.27 million. Carlyle Group had a net margin of 19.00% and a return on equity of 23.78%. The firm's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.01 EPS. On average, analysts expect that Carlyle Group Inc. will post 4.48 earnings per share for the current year.

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.