Royal Bank of Canada Acquires 474,667 Shares of Carlyle Group Inc. $CG

Key Points

• Royal Bank of Canada increased its Carlyle Group stake by 116.1% in the first quarter, purchasing 474,667 additional shares. Its holdings totaled 883,679 shares valued at approximately $42.8 million, while institutional investors owned 55.88% of CG.
• Carlyle Group recently reported quarterly EPS of $0.89, below the $0.91 analyst consensus, while revenue fell 28% year over year to $750.9 million, also missing estimates.
• Analysts maintain a consensus “Hold” rating on CG, with seven Buy, eight Hold and one Sell rating. The average price target is $60.07, above the stock’s reported opening price of $46.02.

Royal Bank of Canada increased its holdings in shares of Carlyle Group Inc. (NASDAQ:CG - Free Report) by 116.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 883,679 shares of the financial services provider's stock after purchasing an additional 474,667 shares during the quarter. Royal Bank of Canada owned approximately 0.25% of Carlyle Group worth $42,761,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in CG. DMC Group LLC grew its position in shares of Carlyle Group by 2.5% during the fourth quarter. DMC Group LLC now owns 6,762 shares of the financial services provider's stock valued at $400,000 after purchasing an additional 168 shares in the last quarter. Allworth Financial LP boosted its stake in Carlyle Group by 32.3% during the fourth quarter. Allworth Financial LP now owns 721 shares of the financial services provider's stock valued at $43,000 after buying an additional 176 shares during the last quarter. Kestra Advisory Services LLC grew its holdings in Carlyle Group by 1.2% during the 4th quarter. Kestra Advisory Services LLC now owns 15,637 shares of the financial services provider's stock valued at $924,000 after buying an additional 184 shares in the last quarter. Larson Financial Group LLC increased its stake in Carlyle Group by 6.0% in the 3rd quarter. Larson Financial Group LLC now owns 3,483 shares of the financial services provider's stock worth $218,000 after acquiring an additional 196 shares during the last quarter. Finally, Robertson Stephens Wealth Management LLC raised its holdings in shares of Carlyle Group by 3.1% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 6,595 shares of the financial services provider's stock worth $390,000 after acquiring an additional 199 shares in the last quarter. 55.88% of the stock is owned by hedge funds and other institutional investors.

Carlyle Group Stock Performance

CG stock opened at $46.02 on Monday. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.55 and a quick ratio of 2.55. The company has a market capitalization of $16.57 billion, a P/E ratio of 31.52, a PEG ratio of 1.61 and a beta of 1.82. The business has a 50-day moving average price of $44.41 and a 200 day moving average price of $49.38. Carlyle Group Inc. has a 1-year low of $39.60 and a 1-year high of $69.85.

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CG shares. Evercore set a $56.00 price target on shares of Carlyle Group in a research report on Tuesday, April 21st. BMO Capital Markets reiterated an "outperform" rating and set a $52.00 price objective on shares of Carlyle Group in a research report on Monday, July 13th. Citizens Jmp decreased their target price on shares of Carlyle Group from $75.00 to $70.00 and set a "market outperform" rating on the stock in a research report on Thursday, July 9th. TD Cowen lowered their price target on shares of Carlyle Group from $53.00 to $50.00 and set a "hold" rating for the company in a report on Monday, May 18th. Finally, Wall Street Zen cut Carlyle Group from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Seven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Carlyle Group currently has a consensus rating of "Hold" and an average price target of $60.07.

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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