Renaissance Technologies LLC Buys Shares of 136,700 Carlyle Group Inc. $CG

Key Points

• Renaissance Technologies opened a new Carlyle Group position by purchasing 136,700 shares valued at approximately $6.6 million. Institutional investors and hedge funds collectively own 55.88% of CG.
• Analyst sentiment remains mixed, with seven Buy ratings, eight Holds and one Sell. Carlyle has an average rating of Hold and an average price target of $60.07.
• Carlyle shares opened at $50.64 after trading up 3.5%, while the company’s latest quarterly results missed expectations: EPS was $0.89 versus $0.91 expected, and revenue fell 28% year over year to $750.9 million.

Renaissance Technologies LLC purchased a new position in shares of Carlyle Group Inc. (NASDAQ:CG - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 136,700 shares of the financial services provider's stock, valued at approximately $6,615,000.

Several other institutional investors and hedge funds have also modified their holdings of CG. Vanguard Group Inc. raised its holdings in Carlyle Group by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 26,368,246 shares of the financial services provider's stock worth $1,558,627,000 after buying an additional 934,237 shares during the period. Morgan Stanley boosted its holdings in shares of Carlyle Group by 0.8% in the fourth quarter. Morgan Stanley now owns 10,189,948 shares of the financial services provider's stock valued at $602,328,000 after buying an additional 84,228 shares during the period. State Street Corp increased its position in shares of Carlyle Group by 20.9% during the third quarter. State Street Corp now owns 9,942,135 shares of the financial services provider's stock worth $623,372,000 after acquiring an additional 1,720,483 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Carlyle Group by 1.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,735,298 shares of the financial services provider's stock worth $457,233,000 after acquiring an additional 117,223 shares during the period. Finally, Geode Capital Management LLC lifted its position in Carlyle Group by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 4,999,880 shares of the financial services provider's stock valued at $294,817,000 after acquiring an additional 79,134 shares in the last quarter. 55.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CG shares. Wall Street Zen cut Carlyle Group from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Evercore set a $56.00 price objective on Carlyle Group in a research report on Tuesday, April 21st. Keefe, Bruyette & Woods raised Carlyle Group to a "hold" rating in a research report on Monday, July 20th. JPMorgan Chase & Co. reduced their price target on Carlyle Group from $66.00 to $63.00 and set a "neutral" rating for the company in a research report on Friday, May 8th. Finally, Cfra cut shares of Carlyle Group to a "sell" rating and set a $45.00 price target for the company. in a research note on Friday, May 8th. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Carlyle Group presently has an average rating of "Hold" and an average target price of $60.07.

Carlyle Group Trading Up 3.5%

Carlyle Group stock opened at $50.64 on Wednesday. The company has a market cap of $18.23 billion, a price-to-earnings ratio of 34.68, a P/E/G ratio of 1.71 and a beta of 1.83. The firm has a 50-day moving average of $44.58 and a 200-day moving average of $49.16. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.55 and a quick ratio of 2.55. Carlyle Group Inc. has a one year low of $39.60 and a one year high of $69.85.

Carlyle Group (NASDAQ:CG - Get Free Report) last released its earnings results on Wednesday, May 6th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.02). Carlyle Group had a return on equity of 20.95% and a net margin of 13.46%.The company had revenue of $750.90 million for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the company posted $1.14 EPS. The business's revenue was down 28.0% on a year-over-year basis. On average, equities analysts expect that Carlyle Group Inc. will post 3.71 earnings per share for the current fiscal year.

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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