The Carlyle Group Inc. Announces Quarterly Dividend of $0.35 (NASDAQ:CG)

The Carlyle Group Inc. (NASDAQ:CG) declared a quarterly dividend on Thursday, October 24th,Wall Street Journal reports. Stockholders of record on Monday, November 18th will be paid a dividend of 0.35 per share by the financial services provider on Monday, November 25th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Monday, November 18th.

The Carlyle Group has increased its dividend by an average of 11.2% per year over the last three years. The Carlyle Group has a dividend payout ratio of 31.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect The Carlyle Group to earn $4.46 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 31.4%.

The Carlyle Group Stock Performance

CG stock opened at $50.46 on Friday. The company has a 50 day moving average price of $46.95 and a 200 day moving average price of $43.65. The stock has a market capitalization of $18.05 billion, a PE ratio of 174.00, a price-to-earnings-growth ratio of 1.36 and a beta of 1.70. The Carlyle Group has a fifty-two week low of $31.21 and a fifty-two week high of $54.52. The company has a debt-to-equity ratio of 1.38, a current ratio of 2.32 and a quick ratio of 2.32.

The Carlyle Group (NASDAQ:CG) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.08. The firm had revenue of $895.00 million during the quarter, compared to analysts’ expectations of $908.17 million. The Carlyle Group had a return on equity of 24.91% and a net margin of 2.21%. The company’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.87 EPS. Analysts forecast that The Carlyle Group will post 3.77 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on CG. JPMorgan Chase & Co. lifted their target price on shares of The Carlyle Group from $44.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. UBS Group lifted their price objective on The Carlyle Group from $43.00 to $54.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. JMP Securities restated a “market outperform” rating and set a $60.00 target price on shares of The Carlyle Group in a report on Wednesday, October 9th. Barclays upped their price target on The Carlyle Group from $50.00 to $57.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Finally, Oppenheimer boosted their price objective on shares of The Carlyle Group from $78.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, The Carlyle Group presently has an average rating of “Hold” and an average price target of $53.33.

Insiders Place Their Bets

In other The Carlyle Group news, major shareholder Carlyle Group Inc. sold 133,643 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $2.51, for a total transaction of $335,443.93. Following the completion of the sale, the insider now directly owns 4,767,697 shares of the company’s stock, valued at approximately $11,966,919.47. The trade was a 2.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Daniel A. D’aniello sold 495,542 shares of The Carlyle Group stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $51.53, for a total value of $25,535,279.26. Following the transaction, the director now directly owns 32,504,102 shares in the company, valued at approximately $1,674,936,376.06. The trade was a 1.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,171,556 shares of company stock worth $29,222,475. Corporate insiders own 27.20% of the company’s stock.

The Carlyle Group Company 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.