abrdn plc Sells 10,952 Shares of The Carlyle Group Inc. (NASDAQ:CG)

abrdn plc lessened its position in The Carlyle Group Inc. (NASDAQ:CG) by 15.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,092 shares of the financial services provider’s stock after selling 10,952 shares during the period. abrdn plc’s holdings in The Carlyle Group were worth $3,034,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CG. Valley National Advisers Inc. increased its holdings in The Carlyle Group by 149.3% in the fourth quarter. Valley National Advisers Inc. now owns 546 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 327 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of The Carlyle Group by 253.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 565 shares of the financial services provider’s stock valued at $29,000 after buying an additional 405 shares during the period. Brooklyn Investment Group acquired a new position in shares of The Carlyle Group in the third quarter worth approximately $33,000. Fifth Third Bancorp increased its position in The Carlyle Group by 53.9% during the 4th quarter. Fifth Third Bancorp now owns 962 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 337 shares during the period. Finally, Retirement Wealth Solutions LLC bought a new position in The Carlyle Group during the 4th quarter worth approximately $57,000. 55.88% of the stock is owned by institutional investors and hedge funds.

The Carlyle Group Trading Down 0.2 %

CG opened at $52.49 on Monday. The firm has a market capitalization of $18.77 billion, a PE ratio of 181.00, a P/E/G ratio of 0.92 and a beta of 1.70. The company has a debt-to-equity ratio of 1.38, a current ratio of 2.32 and a quick ratio of 2.32. The Carlyle Group Inc. has a fifty-two week low of $36.65 and a fifty-two week high of $57.50. The company’s 50-day moving average is $52.88 and its 200 day moving average is $48.20.

The Carlyle Group (NASDAQ:CG) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.08. The company had revenue of $895.00 million for the quarter, compared to analysts’ expectations of $908.17 million. The Carlyle Group had a return on equity of 24.91% and a net margin of 2.21%. The Carlyle Group’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.87 earnings per share. As a group, research analysts predict that The Carlyle Group Inc. will post 3.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Daniel A. D’aniello sold 495,542 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $51.53, for a total value of $25,535,279.26. Following the transaction, the director now owns 32,504,102 shares in the company, valued at $1,674,936,376.06. The trade was a 1.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 27.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. UBS Group increased their price objective on shares of The Carlyle Group from $43.00 to $54.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Wolfe Research raised The Carlyle Group from a “peer perform” rating to an “outperform” rating and set a $60.00 price objective for the company in a research report on Friday, January 3rd. Evercore ISI raised their target price on The Carlyle Group from $45.00 to $47.00 and gave the stock an “in-line” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. boosted their price target on The Carlyle Group from $44.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company lifted their price objective on shares of The Carlyle Group from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $55.07.

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.