Allstate Corp Invests $338,000 in The Carlyle Group Inc. (NASDAQ:CG)

Allstate Corp bought a new position in shares of The Carlyle Group Inc. (NASDAQ:CG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,691 shares of the financial services provider’s stock, valued at approximately $338,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CG. DnB Asset Management AS boosted its position in shares of The Carlyle Group by 104.5% in the fourth quarter. DnB Asset Management AS now owns 317,323 shares of the financial services provider’s stock worth $16,022,000 after buying an additional 162,147 shares during the period. Orion Portfolio Solutions LLC purchased a new position in The Carlyle Group in the 4th quarter worth approximately $425,000. Pictet Asset Management Holding SA grew its position in The Carlyle Group by 0.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 110,050 shares of the financial services provider’s stock valued at $5,556,000 after acquiring an additional 638 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of The Carlyle Group by 24.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 84,251 shares of the financial services provider’s stock valued at $4,254,000 after purchasing an additional 16,439 shares during the period. Finally, Norges Bank purchased a new position in shares of The Carlyle Group in the fourth quarter valued at $44,532,000. 55.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CG shares. Oppenheimer downgraded shares of The Carlyle Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 19th. StockNews.com downgraded The Carlyle Group from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. Barclays cut their target price on The Carlyle Group from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 12th. Wolfe Research raised shares of The Carlyle Group from a “peer perform” rating to an “outperform” rating and set a $60.00 price target for the company in a research report on Friday, January 3rd. Finally, Wells Fargo & Company reduced their price objective on shares of The Carlyle Group from $54.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $54.53.

The Carlyle Group Stock Performance

Shares of CG stock opened at $46.31 on Thursday. The company has a market cap of $16.73 billion, a P/E ratio of 16.66, a PEG ratio of 0.98 and a beta of 1.73. The Carlyle Group Inc. has a 52 week low of $36.65 and a 52 week high of $57.50. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 1.42. The business has a 50 day moving average of $48.59 and a two-hundred day moving average of $49.62.

The Carlyle Group (NASDAQ:CG) last announced its quarterly earnings results on Monday, February 10th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.08). The Carlyle Group had a return on equity of 24.02% and a net margin of 18.81%. As a group, analysts anticipate that The Carlyle Group Inc. will post 4.48 EPS for the current year.

The Carlyle Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 21st were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend was Friday, February 21st. The Carlyle Group’s dividend payout ratio (DPR) is presently 50.36%.

The Carlyle Group Company 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.