Truist Financial Corp Has $1.49 Million Position in The Carlyle Group Inc. (NASDAQ:CG)

Truist Financial Corp boosted its holdings in The Carlyle Group Inc. (NASDAQ:CG) by 4.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,041 shares of the financial services provider’s stock after buying an additional 1,716 shares during the period. Truist Financial Corp’s holdings in The Carlyle Group were worth $1,487,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in The Carlyle Group by 7.6% in the fourth 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. Capital World Investors increased its position in shares of The Carlyle Group by 0.4% during the first quarter. Capital World Investors now owns 20,053,012 shares of the financial services provider’s stock worth $940,687,000 after acquiring an additional 79,681 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of The Carlyle Group by 6.5% during the first quarter. William Blair Investment Management LLC now owns 11,819,403 shares of the financial services provider’s stock worth $554,448,000 after acquiring an additional 721,608 shares in the last quarter. Ariel Investments LLC increased its position in shares of The Carlyle Group by 1.1% during the second quarter. Ariel Investments LLC now owns 4,937,725 shares of the financial services provider’s stock worth $198,250,000 after acquiring an additional 54,805 shares in the last quarter. Finally, Capital International Investors bought a new stake in shares of The Carlyle Group during the first quarter worth $142,511,000. 55.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at The Carlyle Group

In other The Carlyle Group news, major shareholder Carlyle Group Inc. sold 924,466 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $2.14, for a total value of $1,978,357.24. Following the completion of the sale, the insider now owns 3,643,231 shares of the company’s stock, valued at $7,796,514.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 2,429,254 shares of company stock valued at $54,750,979 in the last quarter. Company insiders own 27.20% of the company’s stock.

The Carlyle Group Stock Performance

NASDAQ CG opened at $48.27 on Friday. The firm has a 50-day moving average of $41.46 and a 200-day moving average of $42.83. 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 stock has a market cap of $17.37 billion, a PE ratio of -26.97, a P/E/G ratio of 1.25 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 Carlyle Group (NASDAQ:CG) last posted its earnings results on Monday, August 5th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $808.73 million. The Carlyle Group had a positive return on equity of 24.30% and a negative net margin of 11.67%. The business’s quarterly revenue was up 131.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.88 EPS. On average, sell-side analysts anticipate that The Carlyle Group Inc. will post 3.76 EPS for the current year.

The Carlyle Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend was Friday, August 16th. The Carlyle Group’s dividend payout ratio is currently -78.21%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CG shares. JPMorgan Chase & Co. downgraded shares of The Carlyle Group from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $46.00 to $44.00 in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of The Carlyle Group from $55.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. UBS Group decreased their target price on shares of The Carlyle Group from $45.00 to $44.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. JMP Securities reaffirmed a “market outperform” rating and issued a $60.00 target price on shares of The Carlyle Group in a research report on Wednesday. Finally, Oppenheimer decreased their target price on shares of The Carlyle Group from $69.00 to $64.00 and set an “outperform” rating for the company in a research report on Tuesday, August 6th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $48.33.

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.