Carlyle Group Inc. $CG Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. trimmed its stake in shares of Carlyle Group Inc. (NASDAQ:CG) by 52.6% in the third quarter, Holdings Channel.com reports. The fund owned 8,716 shares of the financial services provider’s stock after selling 9,658 shares during the period. QRG Capital Management Inc.’s holdings in Carlyle Group were worth $547,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of CG. Vanguard Group Inc. raised its holdings in Carlyle Group by 1.8% during the second quarter. Vanguard Group Inc. now owns 24,719,581 shares of the financial services provider’s stock worth $1,270,586,000 after purchasing an additional 426,644 shares during the last quarter. State Street Corp boosted its position in shares of Carlyle Group by 4.8% in the 2nd quarter. State Street Corp now owns 8,221,652 shares of the financial services provider’s stock worth $422,593,000 after buying an additional 378,455 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Carlyle Group by 4.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,138,859 shares of the financial services provider’s stock valued at $366,937,000 after acquiring an additional 311,300 shares during the last quarter. Alkeon Capital Management LLC raised its position in Carlyle Group by 13.4% during the second quarter. Alkeon Capital Management LLC now owns 5,941,316 shares of the financial services provider’s stock worth $305,384,000 after acquiring an additional 700,000 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Carlyle Group by 5.6% in the second quarter. Geode Capital Management LLC now owns 4,284,894 shares of the financial services provider’s stock valued at $219,583,000 after purchasing an additional 228,484 shares in the last quarter. Institutional investors and hedge funds own 55.88% of the company’s stock.

Carlyle Group Price Performance

CG opened at $62.35 on Friday. Carlyle Group Inc. has a 1 year low of $33.02 and a 1 year high of $69.85. The company’s 50 day simple moving average is $58.96 and its 200 day simple moving average is $60.24. The stock has a market capitalization of $22.47 billion, a PE ratio of 34.83, a P/E/G ratio of 1.10 and a beta of 2.04. The company has a debt-to-equity ratio of 1.78, a quick ratio of 2.49 and a current ratio of 2.49.

Carlyle Group (NASDAQ:CG) last issued its quarterly earnings results on Friday, November 7th. The financial services provider reported $0.98 EPS for the quarter, hitting the consensus estimate of $0.98. The firm had revenue of $782.50 million during the quarter, compared to analyst estimates of $848.51 million. Carlyle Group had a net margin of 16.91% and a return on equity of 23.46%. During the same quarter in the prior year, the business posted $0.95 earnings per share. As a group, sell-side analysts expect that Carlyle Group Inc. will post 4.48 EPS for the current year.

Insider Buying and Selling at Carlyle Group

In related news, Director David M. Rubenstein sold 625,000 shares of Carlyle Group stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $56.55, for a total value of $35,343,750.00. Following the transaction, the director owned 27,999,644 shares in the company, valued at approximately $1,583,379,868.20. This trade represents a 2.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 26.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CG shares. TD Cowen restated a “buy” rating on shares of Carlyle Group in a research report on Wednesday, January 14th. Evercore ISI upped their target price on shares of Carlyle Group from $57.00 to $62.00 and gave the company an “in-line” rating in a report on Thursday. Wolfe Research reiterated an “outperform” rating on shares of Carlyle Group in a report on Wednesday, January 7th. Barclays upped their price objective on shares of Carlyle Group from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. Finally, Citigroup lowered their target price on shares of Carlyle Group from $74.00 to $71.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Seven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $67.46.

Carlyle Group Company Profile

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.