Coastal Bridge Advisors LLC Sells 517 Shares of The Carlyle Group Inc. (NASDAQ:CG)

Coastal Bridge Advisors LLC decreased its holdings in shares of The Carlyle Group Inc. (NASDAQ:CG) by 0.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,813 shares of the financial services provider’s stock after selling 517 shares during the quarter. Coastal Bridge Advisors LLC’s holdings in The Carlyle Group were worth $2,683,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CG. Capital International Investors bought a new position in shares of The Carlyle Group in the 1st quarter valued at about $142,511,000. Boston Partners bought a new stake in shares of The Carlyle Group in the 1st quarter valued at approximately $109,122,000. Vanguard Group Inc. boosted its holdings in shares of The Carlyle Group by 7.6% in 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 period. Goldman Sachs Group Inc. raised its holdings 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 valued at $105,540,000 after buying an additional 1,712,133 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in The Carlyle Group by 17,468.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,715,748 shares of the financial services provider’s stock worth $68,887,000 after buying an additional 1,705,982 shares during the last quarter. 55.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other The Carlyle Group news, major shareholder Carlyle Group Inc. sold 52,724 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $30.87, for a total value of $1,627,589.88. Following the completion of the sale, the insider now directly owns 11,300,463 shares in the company, valued at $348,845,292.81. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 1,697,334 shares of company stock worth $62,666,450 in the last 90 days. 27.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CG has been the topic of several recent analyst reports. 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. Keefe, Bruyette & Woods decreased their price objective on shares of The Carlyle Group from $48.00 to $46.00 and set a “market perform” rating for the company in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft cut their target price 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. Redburn Atlantic started coverage on The Carlyle Group in a report on Tuesday, August 27th. They set a “buy” rating and a $55.00 price objective for the company. Finally, Wells Fargo & Company started coverage on The Carlyle Group in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $42.00 target price on the stock. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $45.81.

The Carlyle Group Price Performance

NASDAQ CG opened at $43.59 on Friday. The company has a market cap of $15.69 billion, a PE ratio of -24.35, a P/E/G ratio of 1.30 and a beta of 1.73. The Carlyle Group Inc. has a 52-week low of $27.13 and a 52-week high of $50.92. 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 firm’s 50 day moving average price is $41.70 and its 200-day moving average price is $42.85.

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

The Carlyle Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend was Friday, August 16th. The Carlyle Group’s dividend payout ratio is currently -78.21%.

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.