The Manufacturers Life Insurance Company Sells 89,017 Shares of The Carlyle Group Inc. (NASDAQ:CG)

The Manufacturers Life Insurance Company cut its holdings in shares of The Carlyle Group Inc. (NASDAQ:CG) by 15.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 474,274 shares of the financial services provider’s stock after selling 89,017 shares during the period. The Manufacturers Life Insurance Company’s holdings in The Carlyle Group were worth $19,042,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Tobam bought a new position in shares of The Carlyle Group in the second quarter valued at about $27,000. Blue Trust Inc. increased its position in The Carlyle Group by 506.3% in the 2nd quarter. Blue Trust Inc. now owns 770 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 643 shares in the last quarter. SYSTM Wealth Solutions LLC acquired a new position in shares of The Carlyle Group during the first quarter worth approximately $34,000. Rothschild Investment LLC bought a new stake in shares of The Carlyle Group during the second quarter valued at approximately $50,000. Finally, GAMMA Investing LLC raised its position in The Carlyle Group by 22.8% in the 1st quarter. GAMMA Investing LLC now owns 1,156 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 215 shares during the last quarter. Institutional investors own 55.88% of the company’s stock.

Analysts Set New Price Targets

CG has been the topic of a number of recent research reports. TD Cowen increased their price objective on The Carlyle Group from $41.00 to $42.00 and gave the company a “hold” rating in a research report on Tuesday, August 6th. Wells Fargo & Company started coverage on The Carlyle Group in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $42.00 price objective for the company. Oppenheimer reduced their target price on shares of The Carlyle Group from $69.00 to $64.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft cut their price target on The Carlyle Group from $55.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Finally, Barclays dropped their price objective on The Carlyle Group from $51.00 to $46.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, The Carlyle Group currently has a consensus rating of “Hold” and a consensus target price of $45.81.

Insider Activity

In related news, major shareholder Carlyle Group Inc. sold 214,732 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $38.97, for a total value of $8,368,106.04. Following the completion of the transaction, the insider now owns 10,113,040 shares of the company’s stock, valued at $394,105,168.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold 1,563,500 shares of company stock worth $58,426,307 over the last ninety days. Insiders own 27.20% of the company’s stock.

The Carlyle Group Stock Performance

Shares of CG opened at $43.20 on Wednesday. The firm’s 50 day moving average price is $41.57 and its two-hundred day moving average price is $42.80. 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 twelve month low of $27.13 and a twelve month high of $50.92. The firm has a market cap of $15.55 billion, a P/E ratio of -24.13, a PEG ratio of 1.30 and a beta of 1.73.

The Carlyle Group (NASDAQ:CG) last released its quarterly earnings results on Monday, August 5th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.05). The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $808.73 million. The Carlyle Group had a negative net margin of 11.67% and a positive return on equity of 24.30%. The business’s revenue for the quarter was up 131.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.88 EPS. On average, analysts forecast that The Carlyle Group Inc. will post 3.76 EPS for the current fiscal year.

The Carlyle Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were paid a dividend of $0.35 per share. The ex-dividend date was Friday, August 16th. This represents a $1.40 annualized dividend and a dividend yield of 3.24%. The Carlyle Group’s dividend payout ratio is currently -78.21%.

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.