Assetmark Inc. Sells 3,616 Shares of Carlyle Group Inc. (NASDAQ:CG)

Assetmark Inc. trimmed its stake in shares of Carlyle Group Inc. (NASDAQ:CG) by 0.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 450,651 shares of the financial services provider’s stock after selling 3,616 shares during the quarter. Assetmark Inc.’s holdings in Carlyle Group were worth $19,644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in CG. Teacher Retirement System of Texas bought a new stake in Carlyle Group in the first quarter worth approximately $1,481,000. Korea Investment CORP increased its holdings in Carlyle Group by 28.6% in the fourth quarter. Korea Investment CORP now owns 165,660 shares of the financial services provider’s stock worth $8,364,000 after purchasing an additional 36,873 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Carlyle Group by 105.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,929 shares of the financial services provider’s stock worth $476,000 after purchasing an additional 5,611 shares in the last quarter. Invesco Ltd. increased its holdings in Carlyle Group by 9.7% in the fourth quarter. Invesco Ltd. now owns 650,735 shares of the financial services provider’s stock worth $32,856,000 after purchasing an additional 57,606 shares in the last quarter. Finally, Private Trust Co. NA increased its holdings in Carlyle Group by 101.9% in the first quarter. Private Trust Co. NA now owns 636 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 321 shares in the last quarter. 55.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CG has been the subject of a number of research analyst reports. TD Cowen upgraded Carlyle Group from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a report on Wednesday, May 14th. Evercore ISI raised their price objective on Carlyle Group from $45.00 to $58.00 and gave the company an “in-line” rating in a research note on Thursday, July 10th. Keefe, Bruyette & Woods raised their price objective on Carlyle Group from $43.00 to $45.00 and gave the company a “market perform” rating in a research note on Monday, May 12th. Barclays reissued an “overweight” rating and issued a $64.00 price objective (up previously from $49.00) on shares of Carlyle Group in a research note on Thursday, July 10th. Finally, Citigroup raised Carlyle Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $44.00 to $65.00 in a research note on Thursday, July 10th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $57.73.

Carlyle Group Stock Up 1.8%

CG stock opened at $63.45 on Friday. The stock’s fifty day simple moving average is $51.06 and its two-hundred day simple moving average is $47.59. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 1.56. Carlyle Group Inc. has a 1-year low of $33.02 and a 1-year high of $63.75. The stock has a market cap of $22.91 billion, a P/E ratio of 21.51, a P/E/G ratio of 1.23 and a beta of 1.86.

Carlyle Group (NASDAQ:CG) last posted its quarterly earnings data on Friday, May 9th. The financial services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.17. Carlyle Group had a return on equity of 23.78% and a net margin of 19.00%. The business had revenue of $973.10 million for the quarter, compared to analysts’ expectations of $972.27 million. During the same quarter in the previous year, the firm earned $1.01 earnings per share. The business’s revenue was up 2.0% on a year-over-year basis. Analysts expect that Carlyle Group Inc. will post 4.48 EPS for the current year.

Carlyle Group 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.