Corebridge Financial Inc. Sells 9,865 Shares of The Carlyle Group Inc. (NASDAQ:CG)

Corebridge Financial Inc. reduced its stake in shares of The Carlyle Group Inc. (NASDAQ:CG) by 4.0% during the fourth quarter, Holdings Channel reports. The firm owned 238,843 shares of the financial services provider’s stock after selling 9,865 shares during the quarter. Corebridge Financial Inc.’s holdings in The Carlyle Group were worth $12,059,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of The Carlyle Group by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 23,161,423 shares of the financial services provider’s stock worth $1,169,420,000 after acquiring an additional 180,757 shares in the last quarter. LPL Financial LLC raised its holdings in The Carlyle Group by 36.1% in the fourth quarter. LPL Financial LLC now owns 165,220 shares of the financial services provider’s stock worth $8,342,000 after purchasing an additional 43,865 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in The Carlyle Group during the fourth quarter valued at $3,575,000. Sei Investments Co. boosted its holdings in shares of The Carlyle Group by 16.9% during the 4th quarter. Sei Investments Co. now owns 55,609 shares of the financial services provider’s stock valued at $2,807,000 after buying an additional 8,027 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of The Carlyle Group by 2.3% in the 4th quarter. American Century Companies Inc. now owns 66,678 shares of the financial services provider’s stock worth $3,367,000 after acquiring an additional 1,495 shares in the last quarter. 55.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CG shares. Oppenheimer cut shares of The Carlyle Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 19th. StockNews.com lowered The Carlyle Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Barclays dropped their target price on The Carlyle Group from $60.00 to $55.00 and set an “overweight” rating on the stock in a report on Wednesday, February 12th. Wells Fargo & Company lowered their price target on The Carlyle Group from $54.00 to $48.00 and set an “equal weight” rating for the company in a research report on Thursday, March 20th. Finally, 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 report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, The Carlyle Group presently has a consensus rating of “Hold” and an average price target of $54.53.

The Carlyle Group Stock Performance

CG stock opened at $46.53 on Wednesday. The company has a market cap of $16.81 billion, a P/E ratio of 16.74, a price-to-earnings-growth ratio of 0.98 and a beta of 1.73. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.32 and a quick ratio of 2.32. The Carlyle Group Inc. has a 1 year low of $36.65 and a 1 year high of $57.50. The stock’s fifty day moving average price is $49.86 and its 200-day moving average price is $49.43.

The Carlyle Group (NASDAQ:CG) last released its quarterly earnings results on Monday, February 10th. The financial services provider reported $0.92 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.08). The Carlyle Group had a net margin of 18.81% and a return on equity of 24.02%. On average, equities analysts forecast that The Carlyle Group Inc. will post 4.48 earnings per share for the current year.

The Carlyle Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 21st were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date was Friday, February 21st. The Carlyle Group’s payout ratio is 50.36%.

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.