Insider Selling: The Carlyle Group Inc. (NASDAQ:CG) Major Shareholder Sells $2,531,304.42 in Stock

The Carlyle Group Inc. (NASDAQ:CG) major shareholder Carlyle Group Inc. sold 73,713 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $34.34, for a total transaction of $2,531,304.42. Following the completion of the transaction, the insider now owns 11,766,022 shares in the company, valued at approximately $404,045,195.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Carlyle Group Inc. also recently made the following trade(s):

• On Wednesday, June 26th, Carlyle Group Inc. sold 81,482 shares of The Carlyle Group stock. The shares were sold at an average price of $33.19, for a total transaction of $2,704,387.58.
• On Thursday, June 20th, Carlyle Group Inc. sold 67,207 shares of The Carlyle Group stock. The shares were sold at an average price of $34.89, for a total value of $2,344,852.23.
• On Monday, June 17th, Carlyle Group Inc. sold 99,642 shares of The Carlyle Group stock. The stock was sold at an average price of $35.99, for a total value of $3,586,115.58.
• On Friday, June 14th, Carlyle Group Inc. sold 127,981 shares of The Carlyle Group stock. The stock was sold at an average price of $36.19, for a total value of $4,631,632.39.
• On Wednesday, June 12th, Carlyle Group Inc. sold 64,263 shares of The Carlyle Group stock. The shares were sold at an average price of $40.23, for a total transaction of $2,585,300.49.

The Carlyle Group Stock Up 0.7 %

Shares of NASDAQ CG opened at $39.89 on Friday. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 1.53. The company has a 50-day moving average of $42.33 and a 200 day moving average of $42.91. The Carlyle Group Inc. has a 12-month low of $27.13 and a 12-month high of $48.52. The stock has a market cap of $14.36 billion, a PE ratio of -22.28, a P/E/G ratio of 1.12 and a beta of 1.77.

The Carlyle Group (NASDAQ:CG) last posted its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.92 by $0.09. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $986.10 million. The Carlyle Group had a positive return on equity of 23.92% and a negative net margin of 23.04%. The business’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 earnings per share. As a group, sell-side analysts predict that The Carlyle Group Inc. will post 3.9 EPS for the current fiscal year.

The Carlyle Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 21st. Investors of record on Tuesday, May 14th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend was Monday, May 13th. The Carlyle Group’s dividend payout ratio is currently -78.21%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CG shares. UBS Group lifted their price objective on shares of The Carlyle Group from $46.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Jefferies Financial Group reduced their price target on The Carlyle Group from $49.00 to $44.00 and set a “hold” rating for the company in a report on Thursday, May 9th. Oppenheimer cut their price objective on The Carlyle Group from $74.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday, May 2nd. Barclays decreased their target price on The Carlyle Group from $56.00 to $47.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Finally, TD Cowen reduced their price objective on shares of The Carlyle Group from $49.00 to $45.00 and set a “hold” rating for the company in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $45.60.

Hedge Funds Weigh In On The Carlyle Group

A number of institutional investors have recently bought and sold shares of the company. HighTower Advisors LLC lifted its stake in shares of The Carlyle Group by 13.8% in the 3rd quarter. HighTower Advisors LLC now owns 37,377 shares of the financial services provider’s stock valued at $1,121,000 after purchasing an additional 4,534 shares during the last quarter. Rhumbline Advisers boosted its stake in The Carlyle Group by 1.2% during the third quarter. Rhumbline Advisers now owns 239,705 shares of the financial services provider’s stock worth $7,229,000 after buying an additional 2,764 shares during the period. Kestra Advisory Services LLC purchased a new stake in shares of The Carlyle Group in the 3rd quarter valued at approximately $221,000. Envestnet Asset Management Inc. lifted its holdings in shares of The Carlyle Group by 27.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 308,156 shares of the financial services provider’s stock worth $9,294,000 after acquiring an additional 67,236 shares during the last quarter. Finally, FMR LLC boosted its position in shares of The Carlyle Group by 11.0% during the 3rd quarter. FMR LLC now owns 2,134,653 shares of the financial services provider’s stock worth $64,381,000 after purchasing an additional 211,210 shares during the period. 55.88% of the stock is owned by hedge funds and other institutional investors.

About The Carlyle Group

The Carlyle Group Inc is an investment firm specializing in direct and fund of fund investments. Within direct investments, it specializes in management-led/ Leveraged buyouts, privatizations, divestitures, strategic minority equity investments, structured credit, global distressed and corporate opportunities, small and middle market, equity private placements, consolidations and buildups, senior debt, mezzanine and leveraged finance, and venture and growth capital financings, seed/startup, early venture, emerging growth, turnaround, mid venture, late venture, PIPES.