Royal Bank of Canada Sells 42,153 Shares of Carlyle Group Inc. $CG

Key Points

• The Royal Bank of Canada has reduced its stake in Carlyle Group Inc. by 11.4%, now holding 326,222 shares valued at approximately $14.2 million.
• Several hedge funds, including B. Metzler and Brooklyn Investment Group, have increased their positions in Carlyle Group, indicating a mixed sentiment among institutional investors.
• Carlyle Group's stock price target has been raised by multiple analysts, with a consensus average target price now around $59.93, reflecting overall positive market sentiment.

Royal Bank of Canada lowered its position in Carlyle Group Inc. (NASDAQ:CG - Free Report) by 11.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 326,222 shares of the financial services provider's stock after selling 42,153 shares during the quarter. Royal Bank of Canada owned about 0.09% of Carlyle Group worth $14,219,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Whipplewood Advisors LLC boosted its holdings in Carlyle Group by 5,100.0% in the 1st quarter. Whipplewood Advisors LLC now owns 572 shares of the financial services provider's stock worth $25,000 after buying an additional 561 shares during the period. Private Trust Co. NA lifted its holdings in 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 in the last quarter. Main Street Group LTD purchased a new position in Carlyle Group during the 4th quarter valued at about $29,000. LRI Investments LLC bought a new stake in shares of Carlyle Group during the fourth quarter valued at about $32,000. Finally, National Pension Service grew its stake in Carlyle Group by 74.8% during the first quarter. National Pension Service now owns 869 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 372 shares in the last quarter. 55.88% of the stock is currently owned by hedge funds and other institutional investors.

Carlyle Group Price Performance

CG traded down $0.80 during midday trading on Friday, hitting $66.60. The stock had a trading volume of 1,402,111 shares, compared to its average volume of 2,412,145. Carlyle Group Inc. has a 1 year low of $33.02 and a 1 year high of $68.20. The company has a debt-to-equity ratio of 1.52, a quick ratio of 2.24 and a current ratio of 2.24. The business has a fifty day moving average of $62.13 and a 200 day moving average of $50.11. The company has a market cap of $24.09 billion, a P/E ratio of 19.47, a price-to-earnings-growth ratio of 1.23 and a beta of 2.01.

Carlyle Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Monday, August 18th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.40 annualized dividend and a dividend yield of 2.1%. Carlyle Group's dividend payout ratio (DPR) is currently 40.94%.

Insider Buying and Selling

In other Carlyle Group news, General Counsel Jeffrey W. Ferguson sold 202,606 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $64.23, for a total transaction of $13,013,383.38. Following the completion of the sale, the general counsel directly owned 753,255 shares in the company, valued at $48,381,568.65. This represents a 21.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 26.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CG has been the topic of several research analyst reports. Barclays reaffirmed an "overweight" rating and issued a $74.00 price target (up previously from $66.00) on shares of Carlyle Group in a report on Thursday, August 7th. Wells Fargo & Company upped their target price 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. Evercore ISI lifted their price target on Carlyle Group from $45.00 to $58.00 and gave the company an "in-line" rating in a research report on Thursday, July 10th. JMP Securities upped their price objective on shares of Carlyle Group from $70.00 to $75.00 and gave the stock a "market outperform" rating in a research report on Thursday, August 14th. Finally, Jefferies Financial Group boosted their price target on shares of Carlyle Group from $54.00 to $66.00 and gave the stock a "hold" rating in a research note on Wednesday, August 13th. Six research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Carlyle Group has a consensus rating of "Hold" and a consensus price target of $59.93.

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.