UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Stock Holdings in Carlyle Group Inc. $CG

Key Points

• UBS Asset Management increased its Carlyle Group stake by 5.7% in the second quarter, purchasing 86,089 additional shares and bringing its total to 1.60 million shares valued at approximately $67.5 million.
• Several major institutions, including BlackRock, William Blair, Norges Bank and Legal & General, initiated or expanded positions in Carlyle; institutional investors now own 55.88% of the stock.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and average price target of $59.31. Carlyle beat quarterly EPS estimates, but revenue fell 28.6% year over year, while its $0.35 quarterly dividend implies a 3.0% yield.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Carlyle Group Inc. (NASDAQ:CG - Free Report) by 5.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,602,700 shares of the financial services provider's stock after purchasing an additional 86,089 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.45% of Carlyle Group worth $67,490,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Carlyle Group in the second quarter worth approximately $1,346,848,000. William Blair Investment Management LLC purchased a new position in Carlyle Group in the second quarter worth $249,077,000. Norges Bank acquired a new position in shares of Carlyle Group during the fourth quarter valued at about $288,257,000. Legal & General Group Plc acquired a new position in shares of Carlyle Group in the 2nd quarter valued at $162,984,000. Finally, Bank of New York Mellon Corp acquired a new position in Carlyle Group in the 2nd quarter worth approximately $84,540,000. 55.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CG has been the topic of several analyst reports. UBS Group raised their target price on Carlyle Group from $63.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Citizens Jmp raised their target price on Carlyle Group from $70.00 to $73.00 and gave the company a "market outperform" rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. cut their price objective on shares of Carlyle Group from $66.00 to $63.00 and set a "neutral" rating for the company in a report on Friday, May 8th. Royal Bank Of Canada cut their price objective on shares of Carlyle Group from $58.00 to $56.00 and set a "sector perform" rating for the company in a research report on Monday, July 13th. Finally, Weiss Ratings raised Carlyle Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. Seven analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $59.31.

Carlyle Group Stock Performance

NASDAQ:CG opened at $47.14 on Thursday. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.35 and a quick ratio of 2.35. Carlyle Group Inc. has a 12 month low of $39.60 and a 12 month high of $69.85. The business's fifty day moving average price is $46.33 and its 200 day moving average price is $47.48. The firm has a market capitalization of $16.80 billion, a PE ratio of 49.10, a price-to-earnings-growth ratio of 1.43 and a beta of 1.84.

Carlyle Group (NASDAQ:CG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.16. Carlyle Group had a net margin of 10.08% and a return on equity of 22.52%. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $923.50 million. During the same quarter in the previous year, the firm earned $0.87 EPS. The company's revenue was down 28.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Carlyle Group Inc. will post 3.69 earnings per share for the current fiscal year.

Carlyle Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Monday, August 17th were paid a $0.35 dividend. The ex-dividend date was Monday, August 17th. This represents a $1.40 dividend on an annualized basis and a yield of 3.0%. Carlyle Group's payout ratio is currently 145.83%.

About Carlyle Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source