Garrison Bradford & Associates Inc. grew its holdings in The Carlyle Group LP (NASDAQ:CG) by 52.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,550 shares of the financial services provider’s stock after purchasing an additional 8,400 shares during the period. The Carlyle Group comprises approximately 0.9% of Garrison Bradford & Associates Inc.’s investment portfolio, making the stock its 26th biggest holding. Garrison Bradford & Associates Inc.’s holdings in The Carlyle Group were worth $627,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in The Carlyle Group by 390.1% during the second quarter. JPMorgan Chase & Co. now owns 4,290,208 shares of the financial services provider’s stock worth $95,157,000 after buying an additional 3,414,772 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of The Carlyle Group by 38.6% in the second quarter. Bank of Montreal Can now owns 2,288,126 shares of the financial services provider’s stock valued at $51,734,000 after purchasing an additional 637,026 shares during the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in shares of The Carlyle Group in the second quarter valued at $9,948,000. Artemis Investment Management LLP increased its holdings in shares of The Carlyle Group by 20.4% in the third quarter. Artemis Investment Management LLP now owns 2,247,512 shares of the financial services provider’s stock valued at $57,148,000 after purchasing an additional 381,231 shares during the last quarter. Finally, Tibra Equities Europe Ltd acquired a new position in shares of The Carlyle Group in the third quarter valued at $5,744,000. Institutional investors own 42.81% of the company’s stock.
In related news, CAO Pamela L. Bentley sold 20,000 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $26.69, for a total transaction of $533,800.00. Following the completion of the sale, the chief accounting officer now owns 113,660 shares of the company’s stock, valued at $3,033,585.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
The Carlyle Group (NASDAQ:CG) last announced its earnings results on Thursday, October 31st. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.01. The company had revenue of $527.80 million during the quarter, compared to analysts’ expectations of $514.55 million. The Carlyle Group had a net margin of 16.19% and a return on equity of 4.48%. The Carlyle Group’s quarterly revenue was down 17.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.56 earnings per share. Equities analysts predict that The Carlyle Group LP will post 1.66 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 12th will be given a $0.31 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.44%. The Carlyle Group’s payout ratio is presently 47.15%.
Several equities analysts have commented on CG shares. Zacks Investment Research downgraded shares of The Carlyle Group from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Bank of America upped their price objective on shares of The Carlyle Group from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Raymond James reiterated an “outperform” rating and issued a $14.50 price objective on shares of The Carlyle Group in a report on Thursday, October 31st. ValuEngine downgraded shares of The Carlyle Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, UBS Group upped their price objective on shares of The Carlyle Group from $30.00 to $32.00 and gave the company a “buy” rating in a report on Monday, November 4th. Ten analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $20.34.
About The Carlyle Group
The Carlyle Group L.P. 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.
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