Insider Selling: Carlyle Group Inc. (NASDAQ: CG) Director Sells 2,000,000 Shares

The Carlyle Group Inc. (NASDAQ: CG – Get a rating) Director David M. Rubenstein sold 2,000,000 shares of the company in a transaction on Monday, June 6. The stock was sold at an average price of $38.67, for a total transaction of $77,340,000.00. Following completion of the transaction, the administrator now directly owns 29,249,644 shares of the company, valued at approximately $1,131,083,733.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website.

Carlyle Group shares traded up $0.13 during Monday’s trading, hitting $39.86. 1,780,762 shares were traded, against an average volume of 2,660,062. The company has a quick ratio of 2.65, a current ratio of 2.65 and a leverage ratio of 1.25. The stock’s fifty-day moving average is $40.58 and its 200-day moving average is $46.78. The company has a market capitalization of $14.42 billion, a price-to-earnings ratio of 5.42, a growth price-to-earnings ratio of 0.40 and a beta of 1.55. The Carlyle Group Inc. has a 1-year low of $34.62 and a 1-year high of $60.62.

The Carlyle Group (NASDAQ:CG – Get a rating) last released its results on Thursday, April 28. The financial services provider reported earnings per share of $0.74 for the quarter, missing analyst consensus estimates of $0.98 per ($0.24). The company posted revenue of $779.50 million for the quarter, compared to $1.06 billion expected by analysts. The Carlyle Group had a return on equity of 41.54% and a net margin of 33.77%. The company’s revenue for the quarter increased 27.3% year over year. In the same quarter a year earlier, the company posted earnings per share of $0.58. Stock analysts expect The Carlyle Group Inc. to post earnings per share of 4.15 for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 17. Shareholders of record on Tuesday, May 10 received a dividend of $0.325 per share. This is a positive change from The Carlyle Group’s previous quarterly dividend of $0.25. This represents a dividend of $1.30 on an annualized basis and a dividend yield of 3.26%. The ex-dividend date was Monday, May 9. The Carlyle Group’s dividend payout rate is currently 17.69%.

Institutional investors have recently been buying and selling shares of the company. Westside Investment Management Inc. acquired a new stake in The Carlyle Group in the first quarter worth approximately $28,000. Burleson & Company LLC purchased a new stake in The Carlyle Group in the first quarter worth approximately $29,000. Ellevest Inc. increased its stake in The Carlyle Group by 495.2% in the fourth quarter. Ellevest Inc. now owns 619 shares of the financial services provider worth $34,000 after purchasing an additional 515 shares during the period. CVA Family Office LLC increased its stake in The Carlyle Group by 257.1% in the first quarter. CVA Family Office LLC now owns 625 shares of the financial services provider worth $31,000 after purchasing an additional 450 shares during the period. Finally, the Canada Pension Plan Investment Board acquired a new stake in The Carlyle Group in the fourth quarter worth approximately $45,000. Institutional investors hold 93.84% of the company’s shares.

Several research analysts have recently weighed in on CG shares. Goldman Sachs Group lowered its price target on shares of The Carlyle Group from $66.00 to $56.00 and set a “buy” rating on the stock in a Tuesday, March 29 report. Morgan Stanley lowered its price target on shares of The Carlyle Group from $59.00 to $54.00 and set an “equal weight” rating on the stock in a Wednesday, April 20 report. Oppenheimer raised his target price on The Carlyle Group from $71.00 to $80.00 in a Wednesday, April 13 research note. BMO Capital Markets reduced its target price on The Carlyle Group from $69.00 to $60.00 in a Friday, April 29 research note. Finally, Deutsche Bank Aktiengesellschaft lowered its price target on The Carlyle Group from $68.00 to $64.00 in a Thursday, May 19 research note. One equity research analyst gave the stock a sell rating, four gave the stock a hold rating and seven gave the stock a buy rating. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $58.45.

About The Carlyle Group (Get a rating)

The Carlyle Group Inc is an investment company specializing in direct investments and funds of funds. Within direct investments, she specializes in management led/leveraged buyouts, privatizations, divestitures, strategic minority equity investments, structured credit, global distressed and corporate opportunities, small and medium-sized enterprises market, private equity placements, consolidations and accumulations, senior debt, mezzanine and leveraged finance and venture capital and growth capital financings, seed/start-up, early stage company, growth emergent, turnaround, intermediate company, late company, PIPES.

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