Raymond James Financial Inc. Sells 167,891 Shares of Carlyle Group Inc. $CG

Key Points

• Raymond James Financial Inc. decreased its stake in Carlyle Group Inc. by 10.1%, selling 167,891 shares, and now owns 1,491,522 shares valued at approximately $65 million.
• Several institutional investors have recently adjusted their holdings in Carlyle Group, with significant increases from firms like NewEdge Advisors LLC and Mariner LLC.
• Carlyle Group announced a quarterly dividend of $0.35 per share, which will be distributed to stockholders on August 28th, representing a 2.3% dividend yield.

Raymond James Financial Inc. lessened its holdings in Carlyle Group Inc. (NASDAQ:CG - Free Report) by 10.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,491,522 shares of the financial services provider's stock after selling 167,891 shares during the quarter. Raymond James Financial Inc. owned 0.41% of Carlyle Group worth $65,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Teacher Retirement System of Texas bought a new position in shares of Carlyle Group during the 1st quarter worth $1,481,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Carlyle Group by 105.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 10,929 shares of the financial services provider's stock worth $476,000 after acquiring an additional 5,611 shares during the period. Private Trust Co. NA grew its stake 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 acquiring an additional 321 shares during the period. Bessemer Group Inc. grew its stake in shares of Carlyle Group by 247.7% during the 1st quarter. Bessemer Group Inc. now owns 1,217 shares of the financial services provider's stock worth $53,000 after acquiring an additional 867 shares during the period. Finally, Catalyst Capital Advisors LLC grew its stake in shares of 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 acquiring an additional 5,000 shares during the period. Institutional investors own 55.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CG. Barclays reiterated an "overweight" rating and set a $74.00 price target (up previously from $66.00) on shares of Carlyle Group in a research note on Thursday, August 7th. Keefe, Bruyette & Woods increased their price target on Carlyle Group from $43.00 to $45.00 and gave the stock a "market perform" rating in a research note on Monday, May 12th. TD Cowen upgraded Carlyle Group from a "hold" rating to a "buy" rating and set a $56.00 target price for the company in a research note on Wednesday, May 14th. Cowen upgraded Carlyle Group from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Finally, Citigroup restated an "outperform" rating on shares of Carlyle Group in a research note on Thursday, August 14th. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $59.60.

Insiders Place Their Bets

In related news, General Counsel Jeffrey W. Ferguson sold 202,606 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the general counsel owned 753,255 shares in the company, valued at $48,381,568.65. The trade was a 21.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 26.30% of the stock is owned by insiders.

Carlyle Group Price Performance

Shares of CG traded up $1.20 during trading hours on Tuesday, reaching $64.87. 4,857,614 shares of the company's stock traded hands, compared to its average volume of 2,740,340. The stock has a market cap of $23.46 billion, a PE ratio of 18.97, a price-to-earnings-growth ratio of 1.16 and a beta of 1.90. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 1.52. The firm's 50 day simple moving average is $58.45 and its 200-day simple moving average is $48.85. Carlyle Group Inc. has a 12 month low of $33.02 and a 12 month high of $65.97.

Carlyle Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Monday, August 18th will be given a $0.35 dividend. The ex-dividend date is Monday, August 18th. This represents a $1.40 dividend on an annualized basis and a yield of 2.2%. Carlyle Group's payout ratio is presently 40.94%.

Carlyle Group Profile

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.