Riggs Asset Managment Co. Inc. Takes Position in The Carlyle Group Inc. (NASDAQ:CG)

Riggs Asset Managment Co. Inc. bought a new position in shares of The Carlyle Group Inc. (NASDAQ:CG) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,201 shares of the financial services provider’s stock, valued at approximately $162,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Sei Investments Co. increased its holdings in shares of The Carlyle Group by 27.0% during the 2nd quarter. Sei Investments Co. now owns 43,403 shares of the financial services provider’s stock worth $1,741,000 after buying an additional 9,238 shares during the last quarter. Creative Planning increased its holdings in The Carlyle Group by 10.3% in the 2nd quarter. Creative Planning now owns 11,905 shares of the financial services provider’s stock valued at $478,000 after purchasing an additional 1,111 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of The Carlyle Group by 5.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 54,545 shares of the financial services provider’s stock worth $2,190,000 after buying an additional 2,633 shares during the period. NewEdge Advisors LLC grew its position in The Carlyle Group by 148.5% in the second quarter. NewEdge Advisors LLC now owns 30,632 shares of the financial services provider’s stock valued at $1,230,000 after acquiring an additional 18,304 shares in the last quarter. Finally, Truist Financial Corp increased its stake in The Carlyle Group by 4.9% during the 2nd quarter. Truist Financial Corp now owns 37,041 shares of the financial services provider’s stock worth $1,487,000 after buying an additional 1,716 shares during the period. 55.88% of the stock is owned by institutional investors and hedge funds.

The Carlyle Group Stock Performance

CG opened at $56.16 on Friday. The Carlyle Group Inc. has a 12-month low of $36.65 and a 12-month high of $57.50. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $20.09 billion, a P/E ratio of 193.66, a price-to-earnings-growth ratio of 0.99 and a beta of 1.69. The stock’s 50 day moving average price is $52.93 and its two-hundred day moving average price is $47.94.

The Carlyle Group (NASDAQ:CG) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. The Carlyle Group had a net margin of 2.21% and a return on equity of 24.91%. The business had revenue of $895.00 million during the quarter, compared to analyst estimates of $908.17 million. During the same quarter in the prior year, the business earned $0.87 earnings per share. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. On average, equities analysts forecast that The Carlyle Group Inc. will post 3.77 earnings per share for the current year.

Insider Transactions at The Carlyle Group

In related news, Director Daniel A. D’aniello sold 495,542 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $51.53, for a total transaction of $25,535,279.26. Following the completion of the sale, the director now owns 32,504,102 shares in the company, valued at $1,674,936,376.06. This trade represents a 1.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 27.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on CG. Keefe, Bruyette & Woods increased their price objective on shares of The Carlyle Group from $51.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, November 8th. Morgan Stanley lifted their price objective on shares of The Carlyle Group from $46.00 to $50.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. StockNews.com lowered The Carlyle Group from a “hold” rating to a “sell” rating in a research report on Sunday, December 8th. Barclays upped their target price on The Carlyle Group from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, UBS Group raised their price objective on shares of The Carlyle Group from $43.00 to $54.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $54.44.

The 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.