Principal Financial Group Inc. Cuts Stock Position in The Carlyle Group Inc. (NASDAQ:CG)

Principal Financial Group Inc. reduced its position in The Carlyle Group Inc. (NASDAQ:CG) by 32.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 487,506 shares of the financial services provider’s stock after selling 231,771 shares during the quarter. Principal Financial Group Inc. owned approximately 0.14% of The Carlyle Group worth $20,992,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Tobam purchased a new stake in The Carlyle Group during the 2nd quarter worth about $27,000. Blue Trust Inc. grew its position in shares of The Carlyle Group by 506.3% during the second quarter. Blue Trust Inc. now owns 770 shares of the financial services provider’s stock worth $31,000 after buying an additional 643 shares in the last quarter. 1832 Asset Management L.P. purchased a new stake in shares of The Carlyle Group during the first quarter worth approximately $55,000. Rothschild Investment LLC purchased a new position in The Carlyle Group in the second quarter worth approximately $50,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its holdings in The Carlyle Group by 1,600.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,700 shares of the financial services provider’s stock worth $73,000 after acquiring an additional 1,600 shares in the last quarter. 55.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at The Carlyle Group

In other news, major shareholder Carlyle Group Inc. sold 924,466 shares of The Carlyle Group stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $2.14, for a total value of $1,978,357.24. Following the completion of the sale, the insider now owns 3,643,231 shares of the company’s stock, valued at $7,796,514.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 1,676,014 shares of company stock worth $3,687,196 over the last ninety days. 27.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CG shares. JMP Securities reaffirmed a “market outperform” rating and set a $60.00 price objective on shares of The Carlyle Group in a research report on Wednesday, October 9th. StockNews.com raised The Carlyle Group from a “sell” rating to a “hold” rating in a report on Tuesday. Morgan Stanley boosted their price objective 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. Deutsche Bank Aktiengesellschaft dropped their target price on shares of The Carlyle Group from $55.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Finally, UBS Group upped their price objective on shares of The Carlyle Group from $43.00 to $54.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $53.33.

The Carlyle Group Price Performance

CG stock opened at $51.34 on Thursday. The company has a market cap of $18.36 billion, a price-to-earnings ratio of 177.03, a PEG ratio of 1.38 and a beta of 1.70. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 1.38. The firm has a 50 day moving average of $46.42 and a 200-day moving average of $43.57. The Carlyle Group Inc. has a 12-month low of $30.75 and a 12-month high of $54.52.

The Carlyle Group (NASDAQ:CG) last released its quarterly earnings data 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 net margin of 2.21% and a return on equity of 24.91%. The business had revenue of $895.00 million for the quarter, compared to analyst estimates of $908.17 million. During the same period in the previous year, the firm earned $0.87 EPS. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. As a group, equities analysts expect that The Carlyle Group Inc. will post 3.77 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 paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Monday, November 18th. The Carlyle Group’s payout ratio is 482.76%.

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.