Waterfront Wealth Inc. Sells 1,400 Shares of The Carlyle Group Inc. (NASDAQ:CG)

Waterfront Wealth Inc. lessened its holdings in The Carlyle Group Inc. (NASDAQ:CG) by 5.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,265 shares of the financial services provider’s stock after selling 1,400 shares during the quarter. Waterfront Wealth Inc.’s holdings in The Carlyle Group were worth $1,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Tobam bought a new position in shares of The Carlyle Group during the 2nd quarter worth $27,000. Blue Trust Inc. grew its stake in shares of The Carlyle Group by 506.3% during the 2nd quarter. Blue Trust Inc. now owns 770 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 643 shares during the period. SYSTM Wealth Solutions LLC bought a new position in shares of The Carlyle Group during the 1st quarter worth $34,000. GAMMA Investing LLC bought a new position in shares of The Carlyle Group during the 4th quarter worth $38,000. Finally, Global Retirement Partners LLC grew its stake in shares of The Carlyle Group by 41.2% during the 1st quarter. Global Retirement Partners LLC now owns 846 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 247 shares during the period. Institutional investors own 55.88% of the company’s stock.

Analyst Ratings Changes

CG has been the topic of a number of recent research reports. TD Cowen increased their price objective on The Carlyle Group from $41.00 to $42.00 and gave the stock a “hold” rating in a report on Tuesday, August 6th. JPMorgan Chase & Co. cut The Carlyle Group from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $46.00 to $44.00 in a report on Tuesday, August 6th. Barclays decreased their price objective on The Carlyle Group from $51.00 to $46.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Jefferies Financial Group decreased their price objective on The Carlyle Group from $49.00 to $44.00 and set a “hold” rating on the stock in a report on Thursday, May 9th. Finally, Keefe, Bruyette & Woods decreased their price objective on The Carlyle Group from $48.00 to $46.00 and set a “market perform” rating on the stock in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $46.07.

The Carlyle Group Stock Up 0.1 %

NASDAQ:CG traded up $0.05 during trading hours on Friday, reaching $40.13. 1,857,558 shares of the company traded hands, compared to its average volume of 2,793,436. The business’s 50-day moving average price is $42.20 and its two-hundred day moving average price is $43.52. The stock has a market capitalization of $14.30 billion, a P/E ratio of -22.42, a P/E/G ratio of 1.21 and a beta of 1.75. The Carlyle Group Inc. has a 1 year low of $27.13 and a 1 year high of $50.92. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 1.75.

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 (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 analysts’ expectations of $808.73 million. The Carlyle Group had a negative net margin of 11.67% and a positive return on equity of 24.30%. The firm’s quarterly revenue was up 131.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.88 EPS. Analysts predict that The Carlyle Group Inc. will post 3.76 earnings per share for the current year.

The Carlyle Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend was Friday, August 16th. The Carlyle Group’s dividend payout ratio is currently -78.21%.

Insider Transactions at The Carlyle Group

In other news, major shareholder Carlyle Group Inc. sold 78,180 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $39.94, for a total value of $3,122,509.20. Following the completion of the transaction, the insider now owns 8,441,022 shares in the company, valued at $337,134,418.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 2,261,559 shares of company stock worth $82,700,460 over the last quarter. 27.20% of the stock is currently owned by insiders.

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.