Carlyle Group Inc. $CG Shares Bought by Texas Permanent School Fund Corp

by · The Cerbat Gem

Texas Permanent School Fund Corp grew its position in Carlyle Group Inc. (NASDAQ:CG – Free Report) by 20.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 162,794 shares of the financial services provider’s stock after purchasing an additional 27,881 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Carlyle Group were worth $8,368,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CG. Norges Bank purchased a new position in Carlyle Group in the second quarter valued at $150,122,000. Alkeon Capital Management LLC boosted its position in shares of Carlyle Group by 13.4% during the 2nd 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 in the last quarter. Azora Capital LP purchased a new position in shares of Carlyle Group in the 2nd quarter valued at about $30,791,000. Ameriprise Financial Inc. raised its position in shares of Carlyle Group by 21.7% during the 1st quarter. Ameriprise Financial Inc. now owns 2,722,737 shares of the financial services provider’s stock worth $118,684,000 after acquiring an additional 485,488 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in Carlyle Group during the first quarter worth approximately $20,793,000. Institutional investors and hedge funds own 55.88% of the company’s stock.

Insider Activity at Carlyle Group

In related news, Director David M. Rubenstein sold 625,000 shares of the stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $56.55, for a total transaction of $35,343,750.00. Following the completion of the sale, the director directly owned 27,999,644 shares of the company’s stock, valued at $1,583,379,868.20. This trade represents a 2.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 26.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CG has been the topic of a number of research analyst reports. Morgan Stanley raised their price objective on shares of Carlyle Group from $65.00 to $67.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Carlyle Group in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods reduced their price target on shares of Carlyle Group from $66.00 to $64.00 and set a “market perform” rating for the company in a research report on Monday, November 3rd. Evercore ISI dropped their price objective on Carlyle Group from $64.00 to $57.00 and set an “in-line” rating on the stock in a report on Monday, November 3rd. Finally, UBS Group began coverage on Carlyle Group in a report on Thursday. They issued a “buy” rating and a $74.00 target price for the company. Eight equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $66.14.

Read Our Latest Analysis on Carlyle Group

Carlyle Group Stock Down 0.9%

Shares of NASDAQ:CG opened at $57.80 on Tuesday. The company has a debt-to-equity ratio of 1.78, a current ratio of 2.49 and a quick ratio of 2.49. The stock has a market cap of $20.83 billion, a P/E ratio of 32.29, a P/E/G ratio of 1.44 and a beta of 2.06. Carlyle Group Inc. has a 1-year low of $33.02 and a 1-year high of $69.85. The firm has a fifty day moving average price of $55.64 and a 200 day moving average price of $57.67.

Carlyle Group (NASDAQ:CG – Get Free Report) last announced its earnings results on Friday, November 7th. The financial services provider reported $0.98 EPS for the quarter, meeting analysts’ consensus estimates of $0.98. Carlyle Group had a net margin of 16.91% and a return on equity of 23.46%. The business had revenue of $782.50 million during the quarter, compared to analysts’ expectations of $848.51 million. During the same period in the prior year, the company earned $0.95 earnings per share. Sell-side analysts predict that Carlyle Group Inc. will post 4.48 EPS for the current year.

Carlyle Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Monday, November 10th were issued a $0.35 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.4%. Carlyle Group’s payout ratio is presently 78.21%.

Carlyle Group Profile

(Free Report)

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.

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