Synovus Financial Corp Has $789,000 Stock Position in The Carlyle Group Inc. (NASDAQ:CG)

Synovus Financial Corp raised its holdings in shares of The Carlyle Group Inc. (NASDAQ:CG) by 6.2% during the 4th quarter, HoldingsChannel reports. The fund owned 15,621 shares of the financial services provider’s stock after purchasing an additional 912 shares during the period. Synovus Financial Corp’s holdings in The Carlyle Group were worth $789,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Fortis Capital Advisors LLC acquired a new stake in The Carlyle Group during the fourth quarter valued at $617,000. Sterling Capital Management LLC lifted its holdings in shares of The Carlyle Group by 54.7% during the 4th quarter. Sterling Capital Management LLC now owns 12,976 shares of the financial services provider’s stock valued at $655,000 after buying an additional 4,586 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in shares of The Carlyle Group by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 96,271 shares of the financial services provider’s stock valued at $4,861,000 after buying an additional 610 shares in the last quarter. Texas Yale Capital Corp. raised its position in The Carlyle Group by 0.8% during the fourth quarter. Texas Yale Capital Corp. now owns 85,889 shares of the financial services provider’s stock valued at $4,337,000 after acquiring an additional 660 shares in the last quarter. Finally, APG Asset Management N.V. acquired a new stake in The Carlyle Group in the fourth quarter valued at approximately $6,953,000. 55.88% of the stock is owned by hedge funds and other institutional investors.

The Carlyle Group Price Performance

The Carlyle Group stock opened at $35.25 on Thursday. The business has a 50 day simple moving average of $44.27 and a 200 day simple moving average of $49.03. 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 company has a market capitalization of $12.73 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 0.98 and a beta of 1.72. The Carlyle Group Inc. has a one year low of $33.02 and a one year high of $57.50.

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

The Carlyle Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 21st were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend was Friday, February 21st. The Carlyle Group’s payout ratio is currently 50.36%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Wolfe Research upgraded shares of The Carlyle Group from a “peer perform” rating to an “outperform” rating and set a $60.00 price target on the stock in a report on Friday, January 3rd. Bank of America cut their target price on The Carlyle Group from $47.00 to $46.00 and set an “underperform” rating on the stock in a report on Friday, April 4th. Evercore ISI upped their price target on The Carlyle Group from $51.00 to $52.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 12th. Wells Fargo & Company cut their price objective on The Carlyle Group from $48.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Finally, TD Cowen lowered their price target on The Carlyle Group from $54.00 to $37.00 and set a “hold” rating on the stock in a report on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, The Carlyle Group presently has an average rating of “Hold” and an average price target of $50.71.

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.