Truist Financial Corp Has $2.19 Million Stock Position in The Carlyle Group Inc. (NASDAQ:CG)

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Truist Financial Corp boosted its position in The Carlyle Group Inc. (NASDAQ:CGGet Rating) by 85.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 44,840 shares of the financial services provider’s stock after purchasing an additional 20,684 shares during the period. Truist Financial Corp’s holdings in The Carlyle Group were worth $2,193,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. CVA Family Office LLC lifted its position in The Carlyle Group by 257.1% during the first quarter. CVA Family Office LLC now owns 625 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 450 shares during the last quarter. Ellevest Inc. lifted its position in The Carlyle Group by 495.2% during the fourth quarter. Ellevest Inc. now owns 619 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 515 shares during the last quarter. CWM LLC bought a new position in shares of The Carlyle Group during the fourth quarter worth approximately $56,000. Pacer Advisors Inc. bought a new position in shares of The Carlyle Group during the fourth quarter worth approximately $65,000. Finally, Edmond DE Rothschild Holding S.A. increased its holdings in shares of The Carlyle Group by 407.8% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 1,295 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 1,040 shares during the period. 93.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at The Carlyle Group

In related news, Director David M. Rubenstein sold 2,000,000 shares of the business’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $38.67, for a total value of $77,340,000.00. Following the transaction, the director now owns 29,249,644 shares in the company, valued at $1,131,083,733.48. The transaction was disclosed in a document filed with the SEC, which is available through this link. 29.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. JMP Securities assumed coverage on shares of The Carlyle Group in a report on Wednesday, June 8th. They set an “outperform” rating and a $60.00 target price on the stock. Oppenheimer raised their target price on shares of The Carlyle Group from $71.00 to $80.00 in a report on Wednesday, April 13th. The Goldman Sachs Group lowered their target price on shares of The Carlyle Group from $58.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday, June 29th. Morgan Stanley decreased their price objective on shares of The Carlyle Group from $59.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 20th. Finally, StockNews.com cut shares of The Carlyle Group from a “hold” rating to a “sell” rating in a research note on Wednesday, May 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $58.11.

The Carlyle Group Price Performance

Shares of NASDAQ:CG opened at $32.19 on Tuesday. The firm has a market cap of $11.64 billion, a PE ratio of 4.38, a price-to-earnings-growth ratio of 0.34 and a beta of 1.59. The firm’s fifty day moving average is $34.93 and its 200-day moving average is $42.14. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.65 and a current ratio of 2.65. The Carlyle Group Inc. has a 52 week low of $30.01 and a 52 week high of $60.62.

The Carlyle Group (NASDAQ:CGGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The financial services provider reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.24). The business had revenue of $779.50 million for the quarter, compared to analyst estimates of $1.06 billion. The Carlyle Group had a return on equity of 41.54% and a net margin of 33.77%. The Carlyle Group’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.58 EPS. Sell-side analysts predict that The Carlyle Group Inc. will post 3.98 earnings per share for the current year.

The Carlyle Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 17th. Investors of record on Tuesday, May 10th were issued a $0.325 dividend. This is a positive change from The Carlyle Group’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 9th. This represents a $1.30 annualized dividend and a yield of 4.04%. The Carlyle Group’s payout ratio is presently 17.69%.

About The Carlyle Group

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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.

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