State of Michigan Retirement System Purchases 1,300 Shares of The Carlyle Group Inc. (NASDAQ:CG)

State of Michigan Retirement System increased its position in shares of The Carlyle Group Inc. (NASDAQ:CG) by 2.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,200 shares of the financial services provider’s stock after acquiring an additional 1,300 shares during the quarter. State of Michigan Retirement System’s holdings in The Carlyle Group were worth $2,496,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CG. Norges Bank purchased a new stake in The Carlyle Group during the 4th quarter worth approximately $130,771,000. Vanguard Group Inc. grew its position in The Carlyle Group by 7.6% during the 4th quarter. Vanguard Group Inc. now owns 24,876,188 shares of the financial services provider’s stock worth $1,012,212,000 after purchasing an additional 1,756,189 shares during the last quarter. Goldman Sachs Group Inc. grew its position in The Carlyle Group by 194.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,593,761 shares of the financial services provider’s stock worth $105,540,000 after purchasing an additional 1,712,133 shares during the last quarter. Principal Financial Group Inc. grew its position in The Carlyle Group by 4,693.0% during the 4th quarter. Principal Financial Group Inc. now owns 794,438 shares of the financial services provider’s stock worth $32,326,000 after purchasing an additional 777,863 shares during the last quarter. Finally, Frontier Capital Management Co. LLC boosted its holdings in shares of The Carlyle Group by 238.4% in the 4th quarter. Frontier Capital Management Co. LLC now owns 820,615 shares of the financial services provider’s stock valued at $33,391,000 after acquiring an additional 578,142 shares during the last quarter. Institutional investors own 55.88% of the company’s stock.

The Carlyle Group Stock Up 1.4 %

NASDAQ CG opened at $40.59 on Thursday. The business has a fifty day moving average price of $41.90 and a 200 day moving average price of $42.96. The company has a debt-to-equity ratio of 1.53, a quick ratio of 2.53 and a current ratio of 2.53. The company has a market cap of $14.61 billion, a P/E ratio of -22.68, a P/E/G ratio of 1.13 and a beta of 1.75. The Carlyle Group Inc. has a one year low of $27.13 and a one year high of $48.52.

The Carlyle Group (NASDAQ:CG) last posted its quarterly earnings results 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 firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $986.10 million. The Carlyle Group had a negative net margin of 23.04% and a positive return on equity of 23.92%. The company’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same period last year, the firm posted $0.63 earnings per share. Research analysts anticipate that The Carlyle Group Inc. will post 3.9 EPS for the current fiscal year.

The Carlyle Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 21st. Investors of record on Tuesday, May 14th were issued a $0.35 dividend. The ex-dividend date was Monday, May 13th. This represents a $1.40 annualized dividend and a dividend yield of 3.45%. The Carlyle Group’s dividend payout ratio is presently -78.21%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CG shares. UBS Group upped their price objective on shares of The Carlyle Group from $46.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $48.00 price objective (down from $50.00) on shares of The Carlyle Group in a report on Thursday, May 2nd. Jefferies Financial Group dropped their price objective on shares of The Carlyle Group from $49.00 to $44.00 and set a “hold” rating on the stock in a report on Thursday, May 9th. The Goldman Sachs Group dropped their price objective on shares of The Carlyle Group from $54.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Finally, TD Cowen lowered their price target on shares of The Carlyle Group from $49.00 to $45.00 and set a “hold” rating on the stock in a report 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, the stock currently has an average rating of “Hold” and an average target price of $45.60.

Insider Activity at The Carlyle Group

In related news, major shareholder Carlyle Group Inc. sold 127,981 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $36.19, for a total value of $4,631,632.39. Following the completion of the sale, the insider now owns 12,123,705 shares of the company’s stock, valued at $438,756,883.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 645,335 shares of company stock valued at $22,646,564. 27.20% of the stock is currently owned by insiders.

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.