Allspring Global Investments Holdings LLC Sells 6,800 Shares of The Carlyle Group Inc. (NASDAQ:CG)

Allspring Global Investments Holdings LLC decreased its stake in shares of The Carlyle Group Inc. (NASDAQ:CG) by 60.3% in the 3rd quarter, Holdings Channel reports. The fund owned 4,485 shares of the financial services provider’s stock after selling 6,800 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in The Carlyle Group were worth $193,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tobam bought a new stake in shares of The Carlyle Group in the second quarter valued at about $27,000. Blue Trust Inc. lifted its stake in The Carlyle Group by 506.3% in the 2nd quarter. Blue Trust Inc. now owns 770 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 643 shares in the last quarter. Rothschild Investment LLC acquired a new position in The Carlyle Group during the 2nd quarter worth approximately $50,000. 1832 Asset Management L.P. acquired a new stake in shares of The Carlyle Group in the first quarter valued at approximately $55,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings 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 during the last quarter. 55.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Carlyle Group Inc. sold 133,643 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $2.51, for a total transaction of $335,443.93. Following the completion of the transaction, the insider now directly owns 4,767,697 shares in the company, valued at approximately $11,966,919.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 1,754,194 shares of company stock worth $6,809,705. Corporate insiders own 27.20% of the company’s stock.

The Carlyle Group Stock Down 0.2 %

Shares of CG opened at $49.92 on Monday. The firm has a 50 day simple moving average of $44.48 and a two-hundred day simple moving average of $43.20. 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 Inc. has a one year low of $28.16 and a one year high of $52.73. The company has a market cap of $17.79 billion, a P/E ratio of -44.57, a P/E/G ratio of 1.27 and a beta of 1.70.

The Carlyle Group (NASDAQ:CG) last announced its quarterly earnings data 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 business had revenue of $1.07 billion for the quarter, compared to the consensus estimate 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 Carlyle Group’s quarterly revenue was up 131.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.88 earnings per share. Research analysts forecast that The Carlyle Group Inc. will post 3.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. JMP Securities reissued a “market outperform” rating and set a $60.00 price target on shares of The Carlyle Group in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft reduced their price target on 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. TD Cowen increased their price objective on The Carlyle Group from $41.00 to $42.00 and gave the company a “hold” rating in a report on Tuesday, August 6th. Wells Fargo & Company boosted their target price on shares of The Carlyle Group from $42.00 to $48.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. Finally, Barclays lifted their price objective on shares of The Carlyle Group from $46.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $51.33.

The Carlyle Group 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.