Legacy Capital Wealth Partners LLC Decreases Holdings in The Carlyle Group Inc. (NASDAQ:CG)

Legacy Capital Wealth Partners LLC trimmed its holdings in shares of The Carlyle Group Inc. (NASDAQ:CG) by 21.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,049 shares of the financial services provider’s stock after selling 17,403 shares during the quarter. The Carlyle Group accounts for approximately 0.7% of Legacy Capital Wealth Partners LLC’s holdings, making the stock its 25th biggest holding. Legacy Capital Wealth Partners LLC’s holdings in The Carlyle Group were worth $2,606,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. New York State Teachers Retirement System bought a new position in The Carlyle Group during the 4th quarter valued at about $1,349,000. Mutual of America Capital Management LLC bought a new position in The Carlyle Group during the 4th quarter valued at about $5,410,000. SG Americas Securities LLC grew its holdings in The Carlyle Group by 347.1% during the 4th quarter. SG Americas Securities LLC now owns 111,957 shares of the financial services provider’s stock valued at $4,556,000 after purchasing an additional 86,914 shares during the last quarter. Pacer Advisors Inc. bought a new position in The Carlyle Group during the 4th quarter valued at about $1,324,000. Finally, Xponance Inc. grew its holdings in The Carlyle Group by 245.8% during the 4th quarter. Xponance Inc. now owns 26,338 shares of the financial services provider’s stock valued at $1,072,000 after purchasing an additional 18,722 shares during the last quarter. 55.88% of the stock is currently owned by hedge funds and other institutional investors.

The Carlyle Group Stock Performance

CG stock traded up $0.49 during midday trading on Friday, hitting $46.11. 788,959 shares of the stock traded hands, compared to its average volume of 1,841,456. The firm has a market cap of $16.70 billion, a P/E ratio of -27.28, a PEG ratio of 0.98 and a beta of 1.79. The company has a debt-to-equity ratio of 1.52, a current ratio of 2.27 and a quick ratio of 2.27. The stock’s fifty day simple moving average is $45.94 and its 200-day simple moving average is $39.64. The Carlyle Group Inc. has a 1-year low of $25.20 and a 1-year high of $48.52.

The Carlyle Group (NASDAQ:CG) last announced its earnings results on Wednesday, February 7th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.08. The Carlyle Group had a negative net margin of 20.53% and a positive return on equity of 19.74%. The business had revenue of $896.40 million for the quarter, compared to analyst estimates of $860.68 million. During the same quarter last year, the business earned $1.01 earnings per share. The company’s revenue for the quarter was down 15.4% compared to the same quarter last year. On average, analysts expect that The Carlyle Group Inc. will post 3.97 earnings per share for the current year.

The Carlyle Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 23rd were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.04%. The ex-dividend date was Thursday, February 22nd. The Carlyle Group’s dividend payout ratio is currently -82.84%.

Insider Transactions at The Carlyle Group

In other The Carlyle Group news, major shareholder Carlyle Group Inc. purchased 190,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were purchased at an average cost of $12.95 per share, with a total value of $2,460,500.00. Following the completion of the purchase, the insider now owns 1,066,189 shares in the company, valued at approximately $13,807,147.55. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 27.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CG. Citigroup upped their price target on shares of The Carlyle Group from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. JMP Securities upped their price target on shares of The Carlyle Group from $52.00 to $58.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 8th. TheStreet cut shares of The Carlyle Group from a “b-” rating to a “c” rating in a research report on Wednesday, February 7th. UBS Group increased their target price on shares of The Carlyle Group from $46.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Finally, Morgan Stanley increased their target price on shares of The Carlyle Group from $34.00 to $40.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, The Carlyle Group presently has an average rating of “Hold” and a consensus price target of $43.07.

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.