Allstate Corp Makes New Investment in The Carlyle Group Inc. (NASDAQ:CG)

Allstate Corp bought a new position in shares of The Carlyle Group Inc. (NASDAQ:CG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,691 shares of the financial services provider’s stock, valued at approximately $338,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of The Carlyle Group by 68.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,919,439 shares of the financial services provider’s stock valued at $82,651,000 after purchasing an additional 777,304 shares during the last quarter. Sargent Investment Group LLC grew its position in The Carlyle Group by 6.5% in the 4th quarter. Sargent Investment Group LLC now owns 302,385 shares of the financial services provider’s stock valued at $15,283,000 after buying an additional 18,537 shares during the last quarter. Franklin Street Advisors Inc. NC purchased a new position in The Carlyle Group during the 4th quarter worth $17,671,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of The Carlyle Group by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,406,201 shares of the financial services provider’s stock valued at $70,999,000 after acquiring an additional 14,024 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in shares of The Carlyle Group by 26.9% during the fourth quarter. Blue Trust Inc. now owns 2,423 shares of the financial services provider’s stock worth $122,000 after acquiring an additional 514 shares during the period. Hedge funds and other institutional investors own 55.88% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Oppenheimer cut The Carlyle Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 19th. Barclays cut their price target on shares of The Carlyle Group from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, February 12th. StockNews.com downgraded shares of The Carlyle Group from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. Wolfe Research raised The Carlyle Group from a “peer perform” rating to an “outperform” rating and set a $60.00 price target on the stock in a research note on Friday, January 3rd. Finally, Wells Fargo & Company reduced their price objective on The Carlyle Group from $54.00 to $48.00 and set an “equal weight” rating for the company in a report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $54.53.

The Carlyle Group Stock Performance

Shares of CG opened at $46.31 on Thursday. The company has a market capitalization of $16.73 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 0.98 and a beta of 1.73. The company has a debt-to-equity ratio of 1.42, a quick ratio of 2.32 and a current ratio of 2.32. The Carlyle Group Inc. has a 1 year low of $36.65 and a 1 year high of $57.50. The company’s 50 day simple moving average is $48.59 and its 200 day simple moving average is $49.62.

The Carlyle Group (NASDAQ:CG) last announced its quarterly earnings data on Monday, February 10th. The financial services provider reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.08). The Carlyle Group had a net margin of 18.81% and a return on equity of 24.02%. On average, sell-side analysts predict that The Carlyle Group Inc. will post 4.48 EPS for the current year.

The Carlyle Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 21st were issued a $0.35 dividend. The ex-dividend date was Friday, February 21st. This represents a $1.40 dividend on an annualized basis and a yield of 3.02%. The Carlyle Group’s payout ratio is 50.36%.

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.