Principal Financial Group Inc. Has $36.27 Million Stake in Carlyle Group Inc. $CG

Principal Financial Group Inc. lifted its stake in shares of Carlyle Group Inc. (NASDAQ:CG) by 19.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 578,418 shares of the financial services provider’s stock after purchasing an additional 93,292 shares during the quarter. Principal Financial Group Inc. owned 0.16% of Carlyle Group worth $36,267,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Generali Asset Management SPA SGR acquired a new stake in Carlyle Group in the third quarter valued at approximately $1,913,000. New York State Common Retirement Fund lifted its stake in shares of Carlyle Group by 16.3% in the 3rd quarter. New York State Common Retirement Fund now owns 207,395 shares of the financial services provider’s stock valued at $13,004,000 after acquiring an additional 29,000 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Carlyle Group during the 2nd quarter worth $236,000. Galvin Gaustad & Stein LLC increased its holdings in Carlyle Group by 54.4% in the 3rd quarter. Galvin Gaustad & Stein LLC now owns 233,054 shares of the financial services provider’s stock worth $14,612,000 after purchasing an additional 82,094 shares in the last quarter. Finally, FFG Partners LLC acquired a new stake in shares of Carlyle Group during the third quarter valued at about $1,713,000. Institutional investors own 55.88% of the company’s stock.

Carlyle Group Trading Down 5.1%

NASDAQ:CG opened at $55.41 on Friday. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 1.78. The firm has a fifty day simple moving average of $60.39 and a two-hundred day simple moving average of $60.34. The stock has a market capitalization of $19.97 billion, a price-to-earnings ratio of 30.96, a PEG ratio of 1.04 and a beta of 2.05. Carlyle Group Inc. has a 12 month low of $33.02 and a 12 month high of $69.85.

Carlyle Group (NASDAQ:CG) last issued its earnings results on Friday, February 6th. The financial services provider reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.03). The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.09 billion. Carlyle Group had a net margin of 16.91% and a return on equity of 23.46%. Analysts expect that Carlyle Group Inc. will post 4.48 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CG. Citigroup dropped their price objective on shares of Carlyle Group from $74.00 to $71.00 and set a “buy” rating for the company in a report on Monday, November 3rd. Evercore ISI boosted their price objective on shares of Carlyle Group from $57.00 to $62.00 and gave the stock an “in-line” rating in a research note on Thursday, January 22nd. JPMorgan Chase & Co. cut their target price on Carlyle Group from $68.00 to $66.00 and set a “neutral” rating on the stock in a report on Monday, November 3rd. Wolfe Research reissued an “outperform” rating on shares of Carlyle Group in a research note on Wednesday, January 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Carlyle Group in a research report on Wednesday, January 21st. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $67.77.

Insiders Place Their Bets

In other Carlyle Group news, Director David M. Rubenstein sold 625,000 shares of the firm’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $56.55, for a total value of $35,343,750.00. Following the transaction, the director directly owned 27,999,644 shares of the company’s stock, valued at approximately $1,583,379,868.20. This trade represents a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 26.30% of the company’s stock.

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.