The Carlyle Group Inc. (CG) to Issue Quarterly Dividend of $0.35 on November 25th

The Carlyle Group Inc. (NASDAQ:CG) declared a quarterly dividend on Thursday, October 24th,Wall Street Journal reports. Shareholders 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 yield of 2.77%. The ex-dividend date of this dividend is Monday, November 18th.

The Carlyle Group has raised its dividend payment by an average of 11.2% annually 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 research 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 Carlyle Group has a 12 month low of $31.21 and a 12 month high of $54.52. The company’s 50 day simple moving average is $46.95 and its 200-day simple moving average is $43.65. The firm has a market capitalization of $18.05 billion, a PE ratio of 174.00, a P/E/G ratio of 1.36 and a beta of 1.70. 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 issued its earnings results on Wednesday, November 6th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. The business had revenue of $895.00 million for the quarter, compared to analyst estimates of $908.17 million. The Carlyle Group had a net margin of 2.21% and a return on equity of 24.91%. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.87 EPS. Equities analysts expect that The Carlyle Group will post 3.77 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Carlyle Group Inc. sold 133,643 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $2.51, for a total transaction of $335,443.93. Following the completion of the transaction, the insider now owns 4,767,697 shares of the company’s stock, valued at approximately $11,966,919.47. This represents a 2.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel A. D’aniello sold 495,542 shares of the 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 sale, the director now directly owns 32,504,102 shares in the company, valued at $1,674,936,376.06. This trade represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,171,556 shares of company stock worth $29,222,475 over the last ninety days. Corporate insiders own 27.20% of the company’s stock.

Analyst Ratings Changes

CG has been the topic of a number of research reports. Morgan Stanley lifted their price target on shares of The Carlyle Group from $46.00 to $50.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. StockNews.com raised shares of The Carlyle Group from a “sell” rating to a “hold” rating in a report on Tuesday. Oppenheimer increased their target price on shares of The Carlyle Group from $78.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. raised their price objective on shares of The Carlyle Group from $44.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Redburn Atlantic assumed coverage on The Carlyle Group in a research note on Tuesday, August 27th. They set a “buy” rating and a $55.00 price objective on the stock. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, The Carlyle Group currently has an average rating of “Hold” and a consensus price target of $53.33.

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.