New York State Teachers Retirement System Trims Stake in The Carlyle Group Inc. (NASDAQ:CG)

New York State Teachers Retirement System decreased its position in The Carlyle Group Inc. (NASDAQ:CG) by 3.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,546 shares of the financial services provider’s stock after selling 1,500 shares during the period. New York State Teachers Retirement System’s holdings in The Carlyle Group were worth $1,918,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cutter & CO Brokerage Inc. purchased a new position in shares of The Carlyle Group in the third quarter worth $219,000. abrdn plc increased its stake in The Carlyle Group by 58.5% in the third quarter. abrdn plc now owns 71,044 shares of the financial services provider’s stock worth $3,059,000 after purchasing an additional 26,228 shares during the period. Investment Partners Asset Management Inc. bought a new stake in shares of The Carlyle Group during the third quarter valued at approximately $202,000. State of Alaska Department of Revenue lifted its holdings in shares of The Carlyle Group by 4.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 24,425 shares of the financial services provider’s stock worth $1,051,000 after buying an additional 940 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its position in The Carlyle Group by 10.1% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 42,023 shares of the financial services provider’s stock valued at $1,809,000 after purchasing an additional 3,850 shares during the period. Institutional investors own 55.88% of the company’s stock.

The Carlyle Group Stock Performance

Shares of CG opened at $52.33 on Friday. The stock’s 50-day simple moving average is $45.62 and its 200 day simple moving average is $43.46. The company has a debt-to-equity ratio of 1.75, a quick ratio of 2.55 and a current ratio of 2.55. The Carlyle Group Inc. has a 52-week low of $29.29 and a 52-week high of $54.52. The stock has a market capitalization of $18.65 billion, a price-to-earnings ratio of -46.72, a price-to-earnings-growth ratio of 1.25 and a beta of 1.70.

The Carlyle Group (NASDAQ:CG) last issued its earnings results on Wednesday, November 6th. The financial services provider reported $0.95 EPS for the quarter, topping the consensus estimate of $0.87 by $0.08. The Carlyle Group had a negative net margin of 11.67% and a positive return on equity of 24.30%. The company had revenue of $895.00 million for the quarter, compared to the consensus estimate of $908.17 million. During the same period in the previous year, the firm earned $0.87 earnings per share. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. Research analysts forecast that The Carlyle Group Inc. will post 3.71 EPS for the current fiscal year.

The Carlyle Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Monday, November 18th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend is Monday, November 18th. The Carlyle Group’s dividend payout ratio is -125.00%.

Wall Street Analysts Forecast Growth

CG has been the subject of a number of analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $60.00 price objective on shares of The Carlyle Group in a research report on Wednesday, October 9th. Evercore ISI upped their price target on The Carlyle Group from $45.00 to $47.00 and gave the company an “in-line” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. increased their price target on shares of The Carlyle Group from $44.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company lifted their price target on shares of The Carlyle Group from $42.00 to $48.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley increased their price target on shares of The Carlyle Group from $46.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $52.87.

Insider Transactions at The Carlyle Group

In related news, major shareholder Carlyle Group Inc. sold 92,905 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $2.27, for a total value of $210,894.35. Following the sale, the insider now directly owns 3,155,461 shares in the company, valued at approximately $7,162,896.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 1,676,014 shares of company stock valued at $3,687,196 over the last three months. Corporate insiders own 27.20% of the company’s stock.

The Carlyle Group Profile

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.