Jessup Wealth Management Inc Invests $7.63 Million in The Carlyle Group Inc. (NASDAQ:CG)

Jessup Wealth Management Inc purchased a new stake in shares of The Carlyle Group Inc. (NASDAQ:CG) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 162,670 shares of the financial services provider’s stock, valued at approximately $7,631,000. The Carlyle Group comprises about 3.3% of Jessup Wealth Management Inc’s investment portfolio, making the stock its 10th largest holding.

Several other institutional investors have also recently made changes to their positions in the stock. Rhumbline Advisers raised its position in The Carlyle Group by 1.2% during the third quarter. Rhumbline Advisers now owns 239,705 shares of the financial services provider’s stock worth $7,229,000 after acquiring an additional 2,764 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in The Carlyle Group during the third quarter worth approximately $221,000. Envestnet Asset Management Inc. lifted its position in shares of The Carlyle Group by 27.9% in the third quarter. Envestnet Asset Management Inc. now owns 308,156 shares of the financial services provider’s stock valued at $9,294,000 after buying an additional 67,236 shares during the last quarter. FMR LLC lifted its holdings in The Carlyle Group by 11.0% during the 3rd quarter. FMR LLC now owns 2,134,653 shares of the financial services provider’s stock valued at $64,381,000 after purchasing an additional 211,210 shares during the last quarter. Finally, Invesco Ltd. lifted its position in The Carlyle Group by 8.5% during the third quarter. Invesco Ltd. now owns 560,113 shares of the financial services provider’s stock worth $16,893,000 after acquiring an additional 43,989 shares during the last quarter. Institutional investors and hedge funds own 55.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Barclays reduced their target price on shares of The Carlyle Group from $56.00 to $47.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. The Goldman Sachs Group lowered their price objective on The Carlyle Group from $54.00 to $48.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. TD Cowen cut their target price on The Carlyle Group from $49.00 to $45.00 and set a “hold” rating for the company in a research report on Thursday, May 2nd. UBS Group upped their price objective on shares of The Carlyle Group from $46.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Finally, Oppenheimer decreased their target price on shares of The Carlyle Group from $74.00 to $68.00 and set an “outperform” rating on the stock in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, The Carlyle Group has a consensus rating of “Hold” and a consensus price target of $45.60.

Insider Transactions at The Carlyle Group

In other news, major shareholder Carlyle Group Inc. sold 127,981 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $36.19, for a total value of $4,631,632.39. Following the transaction, the insider now directly owns 12,123,705 shares of the company’s stock, valued at approximately $438,756,883.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 514,288 shares of company stock worth $18,383,593 over the last three months. 27.20% of the stock is owned by company insiders.

The Carlyle Group Trading Up 0.7 %

CG traded up $0.26 during trading on Friday, reaching $40.15. 453,391 shares of the company’s stock were exchanged, compared to its average volume of 2,253,660. The firm has a fifty day moving average price of $42.33 and a two-hundred day moving average price of $42.91. The Carlyle Group Inc. has a one year low of $27.13 and a one year high of $48.52. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 1.53.

The Carlyle Group (NASDAQ:CG) last announced its earnings results on Wednesday, May 1st. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.92 by $0.09. The Carlyle Group had a positive return on equity of 23.92% and a negative net margin of 23.04%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $986.10 million. During the same period in the previous year, the business earned $0.63 EPS. The business’s quarterly revenue was up 35.6% compared to the same quarter last year. Equities research analysts expect that The Carlyle Group Inc. will post 3.9 earnings per share for the current fiscal year.

The Carlyle Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 21st. Stockholders of record on Tuesday, May 14th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend was Monday, May 13th. The Carlyle Group’s dividend payout ratio is currently -78.21%.

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.