Sit Investment Associates Inc. Grows Stock Holdings in Carlyle Group Inc. $CG

Key Points

• Sit Investment Associates Inc. increased its holdings in Carlyle Group by 6.9% in the first quarter, owning 207,245 shares valued at approximately $9 million.
• Multiple hedge funds, including Bessemer Group Inc. and Wealth Enhancement Advisory Services LLC, also significantly increased their positions in Carlyle Group during the same period, indicating strong interest from institutional investors.
• Carlyle Group's stock is currently rated as a "Hold" with a consensus target price of $59.19, after several analysts set new price targets, including Barclays raising it to $74.00.

Sit Investment Associates Inc. increased its position in Carlyle Group Inc. (NASDAQ:CG - Free Report) by 6.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 207,245 shares of the financial services provider's stock after buying an additional 13,325 shares during the period. Sit Investment Associates Inc. owned about 0.06% of Carlyle Group worth $9,034,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CG. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Carlyle Group by 3.0% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 41,765 shares of the financial services provider's stock worth $1,821,000 after purchasing an additional 1,200 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in Carlyle Group by 49.3% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 16,848 shares of the financial services provider's stock worth $734,000 after purchasing an additional 5,560 shares during the last quarter. National Pension Service lifted its position 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 purchasing an additional 372 shares during the last quarter. Resona Asset Management Co. Ltd. increased its holdings in shares of Carlyle Group by 5.1% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 67,429 shares of the financial services provider's stock worth $2,936,000 after buying an additional 3,267 shares during the last quarter. Finally, HighTower Advisors LLC raised its position in shares of Carlyle Group by 32.8% during the 1st quarter. HighTower Advisors LLC now owns 56,973 shares of the financial services provider's stock valued at $2,483,000 after buying an additional 14,058 shares in the last quarter. Institutional investors own 55.88% of the company's stock.

Carlyle Group Stock Down 2.3%

Shares of CG stock traded down $1.4250 on Wednesday, hitting $61.1550. The stock had a trading volume of 747,134 shares, compared to its average volume of 2,821,609. Carlyle Group Inc. has a one year low of $33.02 and a one year high of $65.97. The business has a 50 day moving average price of $56.80 and a 200 day moving average price of $48.49. The company has a market cap of $22.12 billion, a PE ratio of 17.88, a P/E/G ratio of 1.16 and a beta of 1.90. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 1.52.

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 dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $1.40 dividend on an annualized basis and a yield of 2.3%. Carlyle Group's dividend payout ratio is presently 40.94%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CG shares. Wells Fargo & Company boosted their target price on Carlyle Group from $49.00 to $61.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Evercore ISI boosted their price objective on shares of Carlyle Group from $45.00 to $58.00 and gave the company an "in-line" rating in a research report on Thursday, July 10th. Jefferies Financial Group lifted 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. Barclays reissued an "overweight" rating and issued a $74.00 price objective (up previously from $66.00) on shares of Carlyle Group in a research note on Thursday, August 7th. Finally, Keefe, Bruyette & Woods raised 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. Seven 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's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $59.60.

Insider Transactions at Carlyle Group

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

Carlyle Group Company 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.