The Carlyle Group Inc. (NASDAQ:CG) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its position in shares of The Carlyle Group Inc. (NASDAQ:CG) by 30.7% in the third quarter, Holdings Channel reports. The institutional investor owned 268,595 shares of the financial services provider’s stock after selling 118,737 shares during the period. Assenagon Asset Management S.A.’s holdings in The Carlyle Group were worth $11,566,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tobam purchased a new position in The Carlyle Group in the second quarter worth $27,000. Blue Trust Inc. boosted its holdings in 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. Rothschild Investment LLC acquired a new stake in shares of The Carlyle Group during the 2nd quarter valued at approximately $50,000. 1832 Asset Management L.P. purchased a new position in The Carlyle Group in the 1st quarter valued at approximately $55,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its position in The Carlyle Group by 1,600.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,700 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 1,600 shares in the last quarter. Hedge funds and other institutional investors own 55.88% of the company’s stock.

Wall Street Analyst Weigh In

CG has been the subject of several research reports. Keefe, Bruyette & Woods cut their price target on 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. Wells Fargo & Company upped their price target on shares of The Carlyle Group from $42.00 to $48.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. raised their price objective on shares of The Carlyle Group from $44.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Redburn Atlantic assumed coverage on The Carlyle Group in a research note on Tuesday, August 27th. They issued a “buy” rating and a $55.00 target price on the stock. Finally, Barclays boosted their price target on The Carlyle Group from $46.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $51.33.

The Carlyle Group Stock Performance

Shares of CG stock opened at $50.22 on Monday. The firm has a market capitalization of $18.07 billion, a price-to-earnings ratio of -28.06, a price-to-earnings-growth ratio of 1.25 and a beta of 1.73. The company has a 50 day moving average price of $43.46 and a 200 day moving average price of $43.02. The Carlyle Group Inc. has a one year low of $27.13 and a one year high of $52.73. 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 (NASDAQ:CG) last issued its earnings results on Monday, August 5th. The financial services provider reported $0.78 earnings per share 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 firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $808.73 million. During the same period last year, the business posted $0.88 earnings per share. The company’s quarterly revenue was up 131.5% compared to the same quarter last year. Sell-side analysts anticipate that The Carlyle Group Inc. will post 3.76 EPS for the current year.

Insider Activity

In other news, major shareholder Carlyle Group Inc. sold 169,467 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $42.10, for a total value of $7,134,560.70. Following the completion of the sale, the insider now owns 8,724,346 shares of the company’s stock, valued at $367,294,966.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 2,206,710 shares of company stock valued at $25,163,209 in the last three months. Corporate insiders own 27.20% of the company’s stock.

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.