Corebridge Financial Inc. Decreases Holdings in The Carlyle Group Inc. (NASDAQ:CG)

Corebridge Financial Inc. reduced its stake in shares of The Carlyle Group Inc. (NASDAQ:CG) by 4.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 238,843 shares of the financial services provider’s stock after selling 9,865 shares during the period. Corebridge Financial Inc. owned about 0.07% of The Carlyle Group worth $12,059,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of CG. Golden State Wealth Management LLC purchased a new stake in The Carlyle Group during the fourth quarter valued at about $25,000. National Pension Service bought a new position in The Carlyle Group in the 4th quarter worth approximately $25,000. Valley National Advisers Inc. raised its holdings in The Carlyle Group by 149.3% during the 4th quarter. Valley National Advisers Inc. now owns 546 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 327 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of The Carlyle Group by 253.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 565 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 405 shares during the period. Finally, Brooklyn Investment Group purchased a new position in shares of The Carlyle Group in the third quarter valued at $33,000. Institutional investors own 55.88% of the company’s stock.

Analyst Upgrades and Downgrades

CG has been the subject of a number of recent analyst reports. Oppenheimer lowered The Carlyle Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 19th. Barclays reduced their price objective on shares of The Carlyle Group from $60.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, February 12th. Wells Fargo & Company cut their price target on shares of The Carlyle Group from $54.00 to $48.00 and set an “equal weight” rating for the company in a report on Thursday, March 20th. Wolfe Research upgraded 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. Finally, StockNews.com lowered The Carlyle Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, The Carlyle Group has an average rating of “Hold” and an average target price of $54.53.

The Carlyle Group Price Performance

Shares of The Carlyle Group stock opened at $46.53 on Wednesday. The stock has a market capitalization of $16.81 billion, a price-to-earnings ratio of 16.74, a price-to-earnings-growth ratio of 0.98 and a beta of 1.73. The company has a fifty day moving average of $49.86 and a 200-day moving average of $49.43. The Carlyle Group Inc. has a 52-week low of $36.65 and a 52-week high of $57.50. The company has a debt-to-equity ratio of 1.42, a quick ratio of 2.32 and a current ratio of 2.32.

The Carlyle Group (NASDAQ:CG) last announced its quarterly earnings data on Monday, February 10th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.08). The Carlyle Group had a net margin of 18.81% and a return on equity of 24.02%. Equities research analysts expect that The Carlyle Group Inc. will post 4.48 EPS for the current year.

The Carlyle Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 21st were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.01%. The ex-dividend date was Friday, February 21st. The Carlyle Group’s payout ratio is 50.36%.

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.