Sound Income Strategies LLC Takes $4.61 Million Position in Carlyle Group Inc. $CG

Key Points

• Sound Income Strategies LLC has acquired a new position in Carlyle Group Inc., purchasing approximately $4.61 million worth of shares, totaling 89,667 shares in the second quarter.
• The Carlyle Group recently announced a quarterly dividend of $0.35 per share, reflecting an annualized yield of 2.2% and a dividend payout ratio of approximately 40.94%.
• Carlyle Group's stock price has shown significant fluctuations, with a 1-year low of $33.02 and a high of $69.85, alongside a current market capitalization of $23.15 billion.

Sound Income Strategies LLC purchased a new stake in Carlyle Group Inc. (NASDAQ:CG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 89,667 shares of the financial services provider's stock, valued at approximately $4,609,000.

Several other large investors have also modified their holdings of the business. Augustine Asset Management Inc. lifted its stake in shares of Carlyle Group by 2.2% in the 2nd quarter. Augustine Asset Management Inc. now owns 63,290 shares of the financial services provider's stock valued at $3,253,000 after purchasing an additional 1,379 shares during the last quarter. Investment Partners Asset Management Inc. acquired a new position in shares of Carlyle Group in the 2nd quarter valued at $233,000. Bank Pictet & Cie Europe AG acquired a new position in Carlyle Group during the 2nd quarter worth about $218,000. TD Private Client Wealth LLC lifted its stake in Carlyle Group by 53.7% during the 2nd quarter. TD Private Client Wealth LLC now owns 15,480 shares of the financial services provider's stock worth $796,000 after acquiring an additional 5,411 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in Carlyle Group by 20.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 81,195 shares of the financial services provider's stock worth $4,173,000 after acquiring an additional 13,781 shares in the last quarter. Institutional investors and hedge funds own 55.88% of the company's stock.

Carlyle Group Price Performance

CG stock opened at $63.99 on Monday. The company has a debt-to-equity ratio of 1.52, a current ratio of 2.24 and a quick ratio of 2.24. The firm has a market capitalization of $23.15 billion, a P/E ratio of 18.71, a P/E/G ratio of 1.16 and a beta of 2.01. The business's 50-day moving average is $63.85 and its two-hundred day moving average is $51.70. Carlyle Group Inc. has a 1 year low of $33.02 and a 1 year high of $69.85.

Carlyle Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Monday, August 18th were given a $0.35 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.40 dividend on an annualized basis and a yield of 2.2%. Carlyle Group's dividend payout ratio (DPR) is currently 40.94%.

Insider Buying and Selling at Carlyle Group

In other news, General Counsel Jeffrey W. Ferguson sold 202,606 shares of the firm'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 sale, the general counsel owned 753,255 shares of the company's stock, valued at approximately $48,381,568.65. This trade represents a 21.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 26.30% of the company's stock.

Wall Street Analyst Weigh In

CG has been the topic of several research reports. Wells Fargo & Company increased 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. JMP Securities increased their target price on Carlyle Group from $70.00 to $75.00 and gave the stock a "market outperform" rating in a research note on Thursday, August 14th. Citigroup reissued an "outperform" rating on shares of Carlyle Group in a research note on Thursday, August 14th. Jefferies Financial Group increased their target price on Carlyle Group from $54.00 to $66.00 and gave the stock a "hold" rating in a research note on Wednesday, August 13th. Finally, Barclays reissued an "overweight" rating and set a $74.00 target price (up previously from $66.00) on shares of Carlyle Group in a research note on Thursday, August 7th. Six equities research 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. According to data from MarketBeat, Carlyle Group has a consensus rating of "Hold" and a consensus target price of $59.93.

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.

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