Carlyle Group (NASDAQ:CG) Director David Rubenstein Sells 400,000 Shares of Stock

Key Points

• Director David Rubenstein sold 400,000 Carlyle Group shares at an average price of $42.74, generating approximately $17.1 million. He retained 26.9 million shares after the transaction, a 1.47% reduction in his ownership.
• Carlyle shares closed at $42.34, near the lower end of their 52-week range of $39.60 to $69.85. The company has a $15.09 billion market capitalization and pays a quarterly dividend of $0.35 per share, yielding about 3.3%.
• The company exceeded quarterly earnings expectations, reporting $1.07 in adjusted earnings per share versus the $0.91 consensus estimate, while revenue reached $1.11 billion. Analysts maintain a consensus “Hold” rating with an average price target of $59.31.

Carlyle Group Inc. (NASDAQ:CG - Get Free Report) Director David Rubenstein sold 400,000 shares of Carlyle Group stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $42.74, for a total transaction of $17,096,000.00. Following the completion of the sale, the director owned 26,899,644 shares of the company's stock, valued at $1,149,690,784.56. This trade represents a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Carlyle Group Stock Performance

Carlyle Group stock traded down $0.73 during mid-day trading on Friday, reaching $42.34. 4,251,744 shares of the company traded hands, compared to its average volume of 3,398,990. The firm's fifty day moving average is $46.81 and its two-hundred day moving average is $47.13. The company has a market capitalization of $15.09 billion, a price-to-earnings ratio of 44.10, a price-to-earnings-growth ratio of 1.36 and a beta of 1.84. Carlyle Group Inc. has a fifty-two week low of $39.60 and a fifty-two week high of $69.85. 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 (NASDAQ:CG - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.91 by $0.16. Carlyle Group had a net margin of 10.08% and a return on equity of 22.52%. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $923.50 million. During the same period in the previous year, the company earned $0.87 earnings per share. The business's quarterly revenue was down 28.6% compared to the same quarter last year. On average, equities research analysts expect that Carlyle Group Inc. will post 3.65 earnings per share for the current fiscal year.

Carlyle Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Monday, August 17th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.3%. The ex-dividend date was Monday, August 17th. Carlyle Group's payout ratio is presently 145.83%.

Analyst Ratings Changes

A number of equities research analysts recently commented on CG shares. UBS Group lifted 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. Weiss Ratings raised shares of Carlyle Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. BMO Capital Markets restated an "outperform" rating and set a $52.00 price objective on shares of Carlyle Group in a research note on Monday, July 13th. Evercore set a $51.00 price objective on shares of Carlyle Group in a research note on Thursday, August 6th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Carlyle Group from $47.00 to $50.00 and gave the company a "market perform" rating in a research report on Thursday, August 6th. Seven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Carlyle Group currently has an average rating of "Hold" and a consensus price target of $59.31.

Hedge Funds Weigh In On Carlyle Group

Large investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in Carlyle Group in the second quarter valued at approximately $1,346,848,000. California State Teachers Retirement System raised its stake in shares of Carlyle Group by 3,902.5% during the 2nd quarter. California State Teachers Retirement System now owns 12,772,595 shares of the financial services provider's stock worth $537,854,000 after buying an additional 12,453,476 shares during the period. Morgan Stanley grew its stake in Carlyle Group by 0.8% in the 4th quarter. Morgan Stanley now owns 10,189,948 shares of the financial services provider's stock valued at $602,328,000 after acquiring an additional 84,228 shares during the period. State Street Corp increased its holdings in Carlyle Group by 20.9% in the 3rd quarter. State Street Corp now owns 9,942,135 shares of the financial services provider's stock worth $623,372,000 after acquiring an additional 1,720,483 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new position in Carlyle Group during the second quarter worth $249,077,000. Institutional investors and hedge funds own 55.88% of the company's stock.

Carlyle Group Company Profile

The Carlyle Group Inc NASDAQ: CG is a global investment firm that manages alternative assets for institutional investors, private wealth clients and other investors. The company invests across private equity, global credit and investment solutions, with strategies spanning corporate, real estate and infrastructure investments.

Carlyle's investment activities include acquiring and supporting companies through its corporate private equity platform, providing loans and other financing through its credit business, and managing portfolios of private market investments through its investment solutions platform.

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