The Carlyle Group Inc. Declares 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 given a dividend of 0.35 per share by the financial services provider on Monday, November 25th. This represents a $1.40 annualized dividend 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 payment 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. 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 Down 1.2 %

CG stock opened at $50.46 on Friday. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 1.38. The firm has a 50-day moving average of $46.95 and a two-hundred day moving average of $43.65. The Carlyle Group has a 12 month low of $31.21 and a 12 month high of $54.52. The company has a market cap of $18.05 billion, a price-to-earnings ratio of 174.00, a PEG ratio of 1.36 and a beta of 1.70.

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, topping analysts’ consensus estimates of $0.87 by $0.08. The firm had revenue of $895.00 million for the quarter, compared to the consensus estimate of $908.17 million. The Carlyle Group had a return on equity of 24.91% and a net margin of 2.21%. The firm’s revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.87 earnings per share. As a group, analysts forecast that The Carlyle Group will post 3.77 earnings per share for the current fiscal year.

Insider Activity at The Carlyle Group

In other news, Director Daniel A. D’aniello sold 495,542 shares of the business’s stock in a transaction that occurred on 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 approximately $1,674,936,376.06. The trade was a 1.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Carlyle Group Inc. sold 924,466 shares of the stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $2.14, for a total transaction of $1,978,357.24. Following the completion of the transaction, the insider now directly owns 3,643,231 shares in the company, valued at $7,796,514.34. This trade represents a 20.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,171,556 shares of company stock valued at $29,222,475 over the last quarter. 27.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on CG. Deutsche Bank Aktiengesellschaft cut their price objective on shares of The Carlyle Group from $55.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Wells Fargo & Company increased their price target on The Carlyle Group from $42.00 to $48.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. Redburn Atlantic assumed coverage on shares of The Carlyle Group in a report on Tuesday, August 27th. They issued a “buy” rating and a $55.00 price objective on the stock. Barclays lifted their price objective 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, Morgan Stanley raised their target price on The Carlyle Group from $46.00 to $50.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, The Carlyle Group currently has an average rating of “Hold” and a consensus target price of $53.33.

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.