Zhang Financial LLC Trims Stock Holdings in The Carlyle Group Inc. (NASDAQ:CG)

Zhang Financial LLC decreased its stake in The Carlyle Group Inc. (NASDAQ:CG) by 9.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,928 shares of the financial services provider’s stock after selling 1,314 shares during the quarter. Zhang Financial LLC’s holdings in The Carlyle Group were worth $606,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CG. SOL Capital Management CO grew its position in shares of The Carlyle Group by 3.8% during the first quarter. SOL Capital Management CO now owns 135,330 shares of the financial services provider’s stock worth $6,348,000 after purchasing an additional 5,000 shares in the last quarter. Simplicity Wealth LLC purchased a new stake in shares of The Carlyle Group during the first quarter worth about $1,986,000. Assenagon Asset Management S.A. grew its position in shares of The Carlyle Group by 608.9% during the first quarter. Assenagon Asset Management S.A. now owns 137,311 shares of the financial services provider’s stock worth $6,441,000 after purchasing an additional 117,941 shares in the last quarter. Global Retirement Partners LLC grew its position in shares of The Carlyle Group by 41.2% during the first quarter. Global Retirement Partners LLC now owns 846 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 247 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in The Carlyle Group by 2.5% during the first quarter. Louisiana State Employees Retirement System now owns 62,300 shares of the financial services provider’s stock valued at $2,922,000 after buying an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 55.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CG shares. UBS Group increased their price target on The Carlyle Group from $46.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. TD Cowen lowered their price objective on The Carlyle Group from $49.00 to $45.00 and set a “hold” rating for the company in a research note on Thursday, May 2nd. Jefferies Financial Group lowered their price objective on The Carlyle Group from $49.00 to $44.00 and set a “hold” rating for the company in a research note on Thursday, May 9th. Citigroup raised their price objective on The Carlyle Group from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Finally, Barclays lowered their price objective on The Carlyle Group from $56.00 to $47.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $45.60.

The Carlyle Group Price Performance

Shares of NASDAQ:CG traded down $0.68 during midday trading on Wednesday, hitting $43.71. The company had a trading volume of 3,492,115 shares, compared to its average volume of 2,248,220. The Carlyle Group Inc. has a twelve month low of $27.13 and a twelve month high of $48.52. The company has a debt-to-equity ratio of 1.53, a current ratio of 2.53 and a quick ratio of 2.53. The stock has a market cap of $15.73 billion, a price-to-earnings ratio of -24.42, a price-to-earnings-growth ratio of 1.14 and a beta of 1.77. The business’s 50-day simple moving average is $44.90 and its 200-day simple moving average is $41.43.

The Carlyle Group (NASDAQ:CG) last issued its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.09. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $986.10 million. The Carlyle Group had a positive return on equity of 23.92% and a negative net margin of 23.04%. The firm’s revenue for the quarter was up 35.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.63 earnings per share. On average, research analysts predict that The Carlyle Group Inc. will post 3.92 earnings per share for the current year.

The Carlyle Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 21st. Stockholders of record on Tuesday, May 14th were given a dividend of $0.35 per share. The ex-dividend date was Monday, May 13th. This represents a $1.40 annualized dividend and a dividend yield of 3.20%. 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.