Kovack Advisors Inc. Trims Stake in The Carlyle Group Inc. (NASDAQ:CG)

Kovack Advisors Inc. lowered its position in The Carlyle Group Inc. (NASDAQ:CG) by 14.2% in the first quarter, HoldingsChannel reports. The fund owned 9,313 shares of the financial services provider’s stock after selling 1,541 shares during the quarter. Kovack Advisors Inc.’s holdings in The Carlyle Group were worth $437,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CG. Norden Group LLC purchased a new position in The Carlyle Group during the first quarter valued at $724,000. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of The Carlyle Group by 1.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 503,525 shares of the financial services provider’s stock valued at $23,620,000 after acquiring an additional 4,766 shares in the last quarter. State of Michigan Retirement System boosted its stake in shares of The Carlyle Group by 2.5% in the first quarter. State of Michigan Retirement System now owns 53,200 shares of the financial services provider’s stock worth $2,496,000 after acquiring an additional 1,300 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in The Carlyle Group by 4.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,207 shares of the financial services provider’s stock valued at $526,000 after purchasing an additional 507 shares during the last quarter. Finally, O ROURKE & COMPANY Inc boosted its stake in The Carlyle Group by 10.9% during the 1st quarter. O ROURKE & COMPANY Inc now owns 16,241 shares of the financial services provider’s stock worth $762,000 after purchasing an additional 1,599 shares during the last quarter. Institutional investors and hedge funds own 55.88% of the company’s stock.

Insider Activity at The Carlyle Group

In related news, major shareholder Carlyle Group Inc. sold 64,263 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $40.23, for a total transaction of $2,585,300.49. Following the completion of the sale, the insider now owns 12,395,920 shares in the company, valued at $498,687,861.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 645,335 shares of company stock valued at $22,646,564 over the last quarter. 27.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. The Goldman Sachs Group dropped their price objective on shares of The Carlyle Group from $54.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Barclays reduced their price objective on The Carlyle Group from $56.00 to $47.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Jefferies Financial Group cut their target price on The Carlyle Group from $49.00 to $44.00 and set a “hold” rating for the company in a research note on Thursday, May 9th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $48.00 price objective (down previously from $50.00) on shares of The Carlyle Group in a report on Thursday, May 2nd. Finally, TD Cowen reduced their target price on shares of The Carlyle Group from $49.00 to $45.00 and set a “hold” rating on the stock in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, The Carlyle Group currently has an average rating of “Hold” and an average price target of $45.60.

The Carlyle Group Trading Up 1.4 %

Shares of NASDAQ CG traded up $0.58 during trading on Thursday, reaching $40.59. The stock had a trading volume of 567,599 shares, compared to its average volume of 2,279,874. The company has a market cap of $14.61 billion, a P/E ratio of -22.68, a PEG ratio of 1.13 and a beta of 1.75. The company has a debt-to-equity ratio of 1.53, a quick ratio of 2.53 and a current ratio of 2.53. The business’s 50-day moving average price is $41.90 and its 200-day moving average price is $42.96. The Carlyle Group Inc. has a fifty-two week low of $27.13 and a fifty-two week high of $48.52.

The Carlyle Group (NASDAQ:CG) last posted its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.09. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $986.10 million. The Carlyle Group had a positive return on equity of 23.92% and a negative net margin of 23.04%. The company’s revenue was up 35.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 earnings per share. On average, equities research analysts predict that The Carlyle Group Inc. will post 3.9 EPS 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. Shareholders of record on Tuesday, May 14th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend was Monday, May 13th. The Carlyle Group’s dividend payout ratio is presently -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.