Sound Income Strategies LLC Boosts Holdings in Carlyle Group Inc. $CG

Sound Income Strategies LLC increased its stake in shares of Carlyle Group Inc. (NASDAQ:CG) by 25.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 115,092 shares of the financial services provider’s stock after buying an additional 23,200 shares during the period. Sound Income Strategies LLC’s holdings in Carlyle Group were worth $7,552,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CG. State Street Corp increased its holdings in Carlyle Group by 20.9% during the third quarter. State Street Corp now owns 9,942,135 shares of the financial services provider’s stock worth $623,372,000 after buying an additional 1,720,483 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in Carlyle Group during the third quarter worth about $75,612,000. Vanguard Group Inc. increased its holdings in Carlyle Group by 2.9% during the third quarter. Vanguard Group Inc. now owns 25,434,009 shares of the financial services provider’s stock worth $1,594,712,000 after buying an additional 714,428 shares during the last quarter. Alkeon Capital Management LLC increased its holdings 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 buying an additional 700,000 shares during the last quarter. Finally, Moore Capital Management LP purchased a new stake in Carlyle Group during the third quarter worth about $42,014,000. Hedge funds and other institutional investors own 55.88% of the company’s stock.

Carlyle Group Price Performance

CG opened at $46.87 on Tuesday. The company has a market capitalization of $16.93 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 0.89 and a beta of 2.05. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 1.90. The firm has a 50-day moving average price of $51.68 and a 200-day moving average price of $56.36. Carlyle Group Inc. has a twelve month low of $33.50 and a twelve month high of $69.85.

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

Carlyle Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Monday, February 16th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Friday, February 13th. Carlyle Group’s dividend payout ratio (DPR) is 64.22%.

Insider Activity at Carlyle Group

In other news, Director David M. Rubenstein sold 500,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $46.68, for a total value of $23,340,000.00. Following the completion of the transaction, the director directly owned 27,399,644 shares in the company, valued at approximately $1,279,015,381.92. This trade represents a 1.79% decrease in their ownership of the stock. The transaction 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.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Royal Bank Of Canada began coverage on shares of Carlyle Group in a report on Monday, February 23rd. They set an “outperform” rating and a $67.00 price objective for the company. Barclays reduced their target price on shares of Carlyle Group from $71.00 to $68.00 and set an “overweight” rating for the company in a research note on Monday, March 2nd. Morgan Stanley set a $71.00 target price on shares of Carlyle Group in a research note on Tuesday, January 27th. Evercore lifted their target price 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. Finally, Wolfe Research reiterated an “outperform” rating on shares of Carlyle Group in a research note on Wednesday, January 7th. Eight equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.31.

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.