Envestnet Asset Management Inc. Has $14.61 Million Position in The Carlyle Group Inc. (NASDAQ:CG)

Envestnet Asset Management Inc. lowered its stake in The Carlyle Group Inc. (NASDAQ:CG) by 8.2% in the second quarter, HoldingsChannel.com reports. The firm owned 363,850 shares of the financial services provider’s stock after selling 32,470 shares during the quarter. Envestnet Asset Management Inc.’s holdings in The Carlyle Group were worth $14,609,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings 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 acquiring an additional 1,756,189 shares during the period. Jessup Wealth Management Inc acquired a new stake in The Carlyle Group during the 1st quarter worth $7,631,000. National Bank of Canada FI boosted its position in shares of The Carlyle Group by 58.8% during the first quarter. National Bank of Canada FI now owns 404,036 shares of the financial services provider’s stock worth $18,953,000 after purchasing an additional 149,612 shares in the last quarter. American International Group Inc. boosted its position in shares of The Carlyle Group by 16,334.3% during the fourth quarter. American International Group Inc. now owns 292,367 shares of the financial services provider’s stock worth $11,896,000 after purchasing an additional 290,588 shares in the last quarter. Finally, Concurrent Investment Advisors LLC bought a new position in shares of The Carlyle Group during the first quarter worth $627,000. Institutional investors and hedge funds own 55.88% of the company’s stock.

Insider Activity at The Carlyle Group

In other The Carlyle Group news, major shareholder Carlyle Group Inc. sold 49,937 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $33.05, for a total value of $1,650,417.85. Following the completion of the sale, the insider now owns 11,520,751 shares of the company’s stock, valued at approximately $380,760,820.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have sold 1,747,271 shares of company stock worth $64,316,868. Insiders own 27.20% of the company’s stock.

The Carlyle Group Stock Up 0.5 %

The Carlyle Group stock opened at $43.34 on Wednesday. The firm has a market capitalization of $15.60 billion, a PE ratio of -24.21, a P/E/G ratio of 1.13 and a beta of 1.73. The company’s 50-day moving average is $41.89 and its 200-day moving average is $42.90. The Carlyle Group Inc. has a fifty-two week low of $27.13 and a fifty-two week high of $50.92. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.55 and a quick ratio of 2.55.

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

The Carlyle Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were paid a $0.35 dividend. The ex-dividend date was Friday, August 16th. This represents a $1.40 dividend on an annualized basis and a yield of 3.23%. The Carlyle Group’s dividend payout ratio (DPR) is currently -78.21%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. UBS Group reduced their price target on shares of The Carlyle Group from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. TD Cowen lifted their price target on shares of The Carlyle Group from $41.00 to $42.00 and gave the stock a “hold” rating in a research report on Tuesday, August 6th. JPMorgan Chase & Co. cut shares of The Carlyle Group from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $46.00 to $44.00 in a research report on Tuesday, August 6th. Wells Fargo & Company began coverage on shares of The Carlyle Group in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $42.00 price objective on the stock. Finally, Redburn Atlantic began coverage on shares of The Carlyle Group in a research report on Tuesday, August 27th. They issued a “buy” rating and a $55.00 price objective on the stock. One research 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $45.81.

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.