Sterneck Capital Management LLC Has $327,000 Stock Position in The Carlyle Group Inc. (NASDAQ:CG)

Sterneck Capital Management LLC lessened its position in shares of The Carlyle Group Inc. (NASDAQ:CG) by 12.8% in the fourth quarter, HoldingsChannel reports. The fund owned 6,469 shares of the financial services provider’s stock after selling 950 shares during the period. Sterneck Capital Management LLC’s holdings in The Carlyle Group were worth $327,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. TD Asset Management Inc raised its stake in The Carlyle Group by 0.5% in the 2nd quarter. TD Asset Management Inc now owns 152,089 shares of the financial services provider’s stock worth $6,106,000 after purchasing an additional 683 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of The Carlyle Group by 8.7% in the second quarter. Victory Capital Management Inc. now owns 48,374 shares of the financial services provider’s stock valued at $1,942,000 after buying an additional 3,883 shares during the period. Arizona State Retirement System grew its position in The Carlyle Group by 8.2% during the second quarter. Arizona State Retirement System now owns 64,448 shares of the financial services provider’s stock worth $2,588,000 after buying an additional 4,906 shares in the last quarter. Quest Partners LLC increased its stake in The Carlyle Group by 186.2% during the 2nd quarter. Quest Partners LLC now owns 13,551 shares of the financial services provider’s stock worth $544,000 after acquiring an additional 8,817 shares during the period. Finally, Choreo LLC bought a new stake in shares of The Carlyle Group during the 2nd quarter valued at $291,000. Institutional investors and hedge funds own 55.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CG. JPMorgan Chase & Co. raised their price target on The Carlyle Group from $44.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods boosted their target price on shares of The Carlyle Group from $51.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, November 8th. Wolfe Research raised shares of The Carlyle Group from a “peer perform” rating to an “outperform” rating and set a $60.00 price objective on the stock in a research note on Friday, January 3rd. Evercore ISI upped their target price on The Carlyle Group from $45.00 to $47.00 and gave the stock an “in-line” rating in a research note on Monday, October 14th. Finally, Oppenheimer boosted their price target on The Carlyle Group from $78.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, The Carlyle Group presently has a consensus rating of “Hold” and an average price target of $54.38.

The Carlyle Group Stock Down 2.2 %

NASDAQ:CG opened at $51.55 on Wednesday. The company has a debt-to-equity ratio of 1.38, a current ratio of 2.32 and a quick ratio of 2.32. The Carlyle Group Inc. has a one year low of $36.65 and a one year high of $55.11. The firm’s 50 day simple moving average is $51.77 and its 200 day simple moving average is $46.28. The company has a market cap of $18.44 billion, a PE ratio of 177.76, a P/E/G ratio of 1.45 and a beta of 1.69.

The Carlyle Group (NASDAQ:CG) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.08. The company had revenue of $895.00 million for the quarter, compared to analysts’ expectations of $908.17 million. The Carlyle Group had a net margin of 2.21% and a return on equity of 24.91%. The Carlyle Group’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 earnings per share. On average, research analysts anticipate that The Carlyle Group Inc. will post 3.77 earnings per share for the current year.

The Carlyle Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend was Monday, November 18th. The Carlyle Group’s dividend payout ratio is currently 482.76%.

Insider Buying and Selling at The Carlyle Group

In related news, Director Daniel A. D’aniello sold 495,542 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $51.53, for a total transaction of $25,535,279.26. Following the sale, the director now owns 32,504,102 shares in the company, valued at $1,674,936,376.06. This represents a 1.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Carlyle Group Inc. sold 250,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $2.23, for a total value of $557,500.00. Following the completion of the transaction, the insider now directly owns 2,905,461 shares in the company, valued at approximately $6,479,178.03. This trade represents a 7.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,113,447 shares of company stock valued at $26,908,674. 27.20% of the stock is currently owned by company insiders.

The Carlyle Group Company 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.