Sit Investment Associates Inc. Buys 69,624 Shares of Carlyle Group Inc. $CG

Key Points

• Sit Investment Associates boosted its Carlyle Group stake by 36.2% in the fourth quarter, buying 69,624 shares and bringing its total holding to 262,040 shares worth about $15.5 million.
• Institutional ownership remains high, with 55.88% of Carlyle Group’s stock held by institutions; several large investors including Vanguard and State Street also increased their positions, while director David M. Rubenstein sold 500,000 shares.
• Analysts are cautious on Carlyle Group after recent rating cuts, with the stock carrying a consensus “Hold” rating and an average price target of $62, even as shares traded around $44.55 and the company reported weaker-than-expected quarterly revenue and EPS.

Sit Investment Associates Inc. increased its stake in Carlyle Group Inc. (NASDAQ:CG - Free Report) by 36.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 262,040 shares of the financial services provider's stock after purchasing an additional 69,624 shares during the quarter. Sit Investment Associates Inc. owned approximately 0.07% of Carlyle Group worth $15,489,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CG. Norges Bank bought a new stake in Carlyle Group during the fourth quarter valued at about $288,257,000. State Street Corp raised its holdings in 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 valued at $623,372,000 after acquiring an additional 1,720,483 shares during the period. Balyasny Asset Management L.P. bought a new stake in Carlyle Group during the third quarter valued at about $75,612,000. Vanguard Group Inc. raised its holdings in Carlyle Group by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 26,368,246 shares of the financial services provider's stock valued at $1,558,627,000 after acquiring an additional 934,237 shares during the period. Finally, Algebris UK Ltd. bought a new stake in Carlyle Group during the fourth quarter valued at about $50,459,000. 55.88% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director David M. Rubenstein sold 500,000 shares of Carlyle Group stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $46.68, for a total value of $23,340,000.00. Following the completion of the transaction, the director owned 27,399,644 shares in the company, valued at approximately $1,279,015,381.92. This trade represents a 1.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 25.40% of the company's stock.

Wall Street Analyst Weigh In

CG has been the topic of a number of recent analyst reports. Weiss Ratings cut Carlyle Group from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, May 11th. Cfra cut Carlyle Group to a "sell" rating and set a $45.00 price target on the stock. in a report on Friday, May 8th. Royal Bank Of Canada lowered Carlyle Group from an "outperform" rating to a "sector perform" rating and set a $58.00 price objective for the company. in a research report on Monday, May 11th. Wall Street Zen lowered Carlyle Group from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Finally, Morgan Stanley cut their price objective on Carlyle Group from $71.00 to $66.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 21st. Seven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Carlyle Group presently has an average rating of "Hold" and an average target price of $62.00.

Carlyle Group Trading Up 1.0%

Shares of Carlyle Group stock opened at $44.55 on Friday. The firm has a market cap of $16.04 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 1.51 and a beta of 1.84. The business has a 50-day moving average price of $47.62 and a 200-day moving average price of $53.08. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 1.92. Carlyle Group Inc. has a twelve month low of $41.54 and a twelve month high of $69.85.

Carlyle Group (NASDAQ:CG - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.89 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.02). The company had revenue of $750.90 million during the quarter, compared to analysts' expectations of $1.01 billion. Carlyle Group had a return on equity of 20.95% and a net margin of 13.46%.The company's revenue was down 28.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.14 EPS. Equities research analysts anticipate that Carlyle Group Inc. will post 4.05 EPS for the current fiscal year.

Carlyle Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Monday, May 18th were given a $0.35 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.40 annualized dividend and a yield of 3.1%. Carlyle Group's dividend payout ratio (DPR) is currently 95.89%.

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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