Prana Capital Management LP Sells 197,844 Shares of Carlyle Group Inc. $CG

Prana Capital Management LP cut its holdings in Carlyle Group Inc. (NASDAQ:CG) by 58.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 140,153 shares of the financial services provider’s stock after selling 197,844 shares during the quarter. Prana Capital Management LP’s holdings in Carlyle Group were worth $8,788,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Allworth Financial LP lifted its position in Carlyle Group by 150.3% in the 2nd quarter. Allworth Financial LP now owns 498 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 299 shares in the last quarter. WFA of San Diego LLC bought a new stake in shares of Carlyle Group during the 2nd quarter worth approximately $26,000. Quarry LP bought a new stake in shares of Carlyle Group during the 3rd quarter worth approximately $33,000. Motco acquired a new position in Carlyle Group in the 3rd quarter valued at $40,000. Finally, Brown Brothers Harriman & Co. acquired a new position in shares of Carlyle Group in the third quarter valued at about $41,000. 55.88% of the stock is currently owned by institutional investors.

Carlyle Group Trading Up 3.2%

Shares of CG stock opened at $47.87 on Wednesday. The stock has a market capitalization of $17.29 billion, a price-to-earnings ratio of 21.96, a price-to-earnings-growth ratio of 0.89 and a beta of 2.07. Carlyle Group Inc. has a 12-month low of $33.02 and a 12-month high of $69.85. The stock’s 50-day moving average price is $56.43 and its 200-day moving average price is $58.19. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 1.90.

Carlyle Group (NASDAQ:CG) last announced its earnings results on Thursday, February 5th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.03). Carlyle Group had a net margin of 16.92% and a return on equity of 23.62%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter last year, the firm earned $0.92 EPS. The firm’s quarterly revenue was up 84.1% on a year-over-year basis. Equities research analysts predict that Carlyle Group Inc. will post 4.48 EPS for the current fiscal year.

Carlyle Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Monday, February 16th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.9%. Carlyle Group’s payout ratio is currently 64.22%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Evercore increased their price target on Carlyle Group from $57.00 to $62.00 and gave the stock an “in-line” rating in a research report on Thursday, January 22nd. TD Cowen lifted their price objective on shares of Carlyle Group from $65.00 to $67.00 and gave the company a “buy” rating in a report on Friday, February 27th. Barclays cut their price target on Carlyle Group from $71.00 to $68.00 and set an “overweight” rating for the company in a research note on Monday, March 2nd. Wall Street Zen raised shares of Carlyle Group from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $65.00 price target on shares of Carlyle Group in a research note on Thursday, March 5th. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $65.36.

Carlyle Group 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.