Carlyle Group (NASDAQ:CG) Director David Rubenstein Sells 625,000 Shares

by · The Cerbat Gem

Carlyle Group Inc. (NASDAQ:CG – Get Free Report) Director David Rubenstein sold 625,000 shares of Carlyle Group 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 sale, 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 legal filing with the SEC, which is available at the SEC website.

Carlyle Group Stock Down 3.0%

Carlyle Group stock opened at $58.35 on Friday. The stock’s fifty day moving average is $55.75 and its two-hundred day moving average is $57.42. The stock has a market cap of $21.03 billion, a PE ratio of 32.60, a P/E/G ratio of 1.49 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 company has a debt-to-equity ratio of 1.78, a current ratio of 2.49 and a quick ratio of 2.49.

Carlyle Group (NASDAQ:CG – Get Free Report) last issued its earnings results on Friday, November 7th. The financial services provider reported $0.98 earnings per share for the quarter, hitting the consensus estimate of $0.98. The business had revenue of $782.50 million for the quarter, compared to analyst estimates of $848.51 million. Carlyle Group had a return on equity of 23.46% and a net margin of 16.91%.During the same quarter last year, the company earned $0.95 EPS. On average, sell-side analysts expect that Carlyle Group Inc. will post 4.48 EPS for the current fiscal 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 was Monday, November 10th. This represents a $1.40 annualized dividend and a dividend yield of 2.4%. Carlyle Group’s dividend payout ratio is presently 78.21%.

Institutional Investors Weigh In On Carlyle Group

Several hedge funds have recently modified their holdings of CG. Allworth Financial LP raised its position in Carlyle Group by 150.3% during the 2nd quarter. Allworth Financial LP now owns 498 shares of the financial services provider’s stock worth $26,000 after buying an additional 299 shares during the last quarter. WFA of San Diego LLC purchased a new position in Carlyle Group during the second quarter worth about $26,000. Geneos Wealth Management Inc. lifted its position in Carlyle Group by 755.3% in the first quarter. Geneos Wealth Management Inc. now owns 650 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 574 shares during the period. Quarry LP purchased a new stake in Carlyle Group in the 3rd quarter valued at approximately $33,000. Finally, National Pension Service raised its stake in shares of Carlyle Group by 74.8% during the 1st quarter. National Pension Service now owns 869 shares of the financial services provider’s stock worth $38,000 after buying an additional 372 shares in the last quarter. 55.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CG shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Carlyle Group in a research note on Wednesday, October 8th. UBS Group began coverage on Carlyle Group in a research report on Thursday. They set a “buy” rating and a $74.00 target price on the stock. TD Cowen decreased their target price on Carlyle Group from $78.00 to $77.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Morgan Stanley boosted their price objective on Carlyle Group from $65.00 to $67.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 21st. Finally, Barclays raised their target price on shares of Carlyle Group from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday. Eight equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Carlyle Group presently has an average rating of “Hold” and a consensus price target of $66.14.

View Our Latest Analysis on CG

Carlyle Group Company Profile

(Get 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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