Carlyle Group Inc. $CG Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Carlyle Group Inc. by 15.2%, selling 13,212 shares to hold a total of 73,551 shares valued at approximately $3.21 million.
• Wall Street analysts have issued mixed ratings on Carlyle Group, with a majority holding a Buy or Hold rating, setting a consensus price target of $59.60.
• Carlyle Group announced a $0.35 quarterly dividend, with a payout ratio of 40.94%, reflecting a total annualized dividend of $1.40 and a yield of 2.3%.

State of New Jersey Common Pension Fund D cut its position in Carlyle Group Inc. (NASDAQ:CG - Free Report) by 15.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,551 shares of the financial services provider's stock after selling 13,212 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Carlyle Group were worth $3,206,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CG. Bank Pictet & Cie Europe AG purchased a new position in shares of Carlyle Group in the fourth quarter valued at $215,000. Mariner LLC boosted its stake in shares of Carlyle Group by 3.0% in the fourth quarter. Mariner LLC now owns 38,689 shares of the financial services provider's stock valued at $1,953,000 after purchasing an additional 1,129 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Carlyle Group by 87.4% in the fourth quarter. NewEdge Advisors LLC now owns 9,278 shares of the financial services provider's stock valued at $468,000 after purchasing an additional 4,327 shares during the period. First Trust Advisors LP boosted its stake in Carlyle Group by 22.6% during the 4th quarter. First Trust Advisors LP now owns 41,530 shares of the financial services provider's stock valued at $2,097,000 after acquiring an additional 7,649 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its stake in Carlyle Group by 9.4% during the 4th quarter. MetLife Investment Management LLC now owns 119,099 shares of the financial services provider's stock valued at $6,013,000 after acquiring an additional 10,275 shares during the last quarter. 55.88% of the stock is currently owned by hedge funds and other institutional investors.

Carlyle Group Stock Performance

Shares of Carlyle Group stock traded up $1.20 during trading hours on Tuesday, reaching $64.87. The company's stock had a trading volume of 4,857,614 shares, compared to its average volume of 2,740,340. The company's 50 day simple moving average is $58.45 and its 200 day simple moving average is $48.85. The company has a debt-to-equity ratio of 1.52, a quick ratio of 2.24 and a current ratio of 2.24. Carlyle Group Inc. has a one year low of $33.02 and a one year high of $65.97. The stock has a market cap of $23.46 billion, a P/E ratio of 18.97, a price-to-earnings-growth ratio of 1.16 and a beta of 1.90.

Carlyle Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Monday, August 18th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, August 18th. Carlyle Group's dividend payout ratio (DPR) is 40.94%.

Insider Buying and Selling at Carlyle Group

In related news, General Counsel Jeffrey W. Ferguson sold 202,606 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $64.23, for a total value of $13,013,383.38. Following the sale, the general counsel owned 753,255 shares of the company's stock, valued at $48,381,568.65. This trade represents a 21.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 26.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CG has been the topic of a number of research analyst reports. Barclays reiterated an "overweight" rating and set a $74.00 price objective (up from $66.00) on shares of Carlyle Group in a research note on Thursday, August 7th. Cowen upgraded shares of Carlyle Group from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Jefferies Financial Group increased their price objective on shares of Carlyle Group from $54.00 to $66.00 and gave the company a "hold" rating in a research note on Wednesday, August 13th. Wells Fargo & Company increased their price objective on shares of Carlyle Group from $49.00 to $61.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. Finally, Evercore ISI increased 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 note on Thursday, July 10th. Seven investment 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's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $59.60.

About Carlyle Group

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.