The Carlyle Group Inc. (NASDAQ:CG) Shares Purchased by abrdn plc

abrdn plc increased its stake in The Carlyle Group Inc. (NASDAQ:CG) by 58.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,044 shares of the financial services provider’s stock after acquiring an additional 26,228 shares during the period. abrdn plc’s holdings in The Carlyle Group were worth $3,059,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Investment Partners Asset Management Inc. acquired a new stake in The Carlyle Group in the 3rd quarter valued at about $202,000. State of Alaska Department of Revenue raised its holdings in shares of The Carlyle Group by 4.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 24,425 shares of the financial services provider’s stock worth $1,051,000 after purchasing an additional 940 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in The Carlyle Group by 10.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 42,023 shares of the financial services provider’s stock worth $1,809,000 after buying an additional 3,850 shares in the last quarter. Forsta AP Fonden increased its holdings in shares of The Carlyle Group by 14.3% in the third quarter. Forsta AP Fonden now owns 73,500 shares of the financial services provider’s stock valued at $3,165,000 after buying an additional 9,200 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of The Carlyle Group by 40.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,931 shares of the financial services provider’s stock valued at $869,000 after acquiring an additional 5,694 shares during the last quarter. Institutional investors and hedge funds own 55.88% of the company’s stock.

The Carlyle Group Stock Performance

Shares of CG opened at $49.92 on Monday. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 1.75. The Carlyle Group Inc. has a 12 month low of $28.16 and a 12 month high of $52.73. The company’s fifty day moving average is $44.48 and its 200-day moving average is $43.20. The firm has a market cap of $17.79 billion, a price-to-earnings ratio of -44.57, a price-to-earnings-growth ratio of 1.27 and a beta of 1.70.

The Carlyle Group (NASDAQ:CG) last announced its quarterly earnings results on Monday, August 5th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $808.73 million. During the same period in the prior year, the firm earned $0.88 EPS. The Carlyle Group’s quarterly revenue was up 131.5% on a year-over-year basis. Equities analysts expect that The Carlyle Group Inc. will post 3.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CG has been the subject of several analyst reports. Morgan Stanley upped their target price on The Carlyle Group from $46.00 to $50.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Oppenheimer raised their target price on shares of The Carlyle Group from $64.00 to $78.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. UBS Group boosted their price target on shares of The Carlyle Group from $43.00 to $54.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their target price on shares of The Carlyle Group from $44.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Evercore ISI raised their target price on The Carlyle Group from $45.00 to $47.00 and gave the stock an “in-line” rating in a research report on Monday, October 14th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $51.33.

Insider Buying and Selling

In related news, major shareholder Carlyle Group Inc. sold 275,000 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $2.20, for a total value of $605,000.00. Following the transaction, the insider now directly owns 2,405,461 shares in the company, valued at approximately $5,292,014.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders sold 1,754,194 shares of company stock worth $6,809,705. 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.