The Carlyle Group LP (NASDAQ:CG) announced a quarterly dividend on Wednesday, October 31st, RTT News reports. Shareholders of record on Tuesday, November 13th will be paid a dividend of 0.42 per share by the financial services provider on Tuesday, November 20th. This represents a $1.68 annualized dividend and a yield of 8.63%. This is an increase from The Carlyle Group’s previous quarterly dividend of $0.22.
The Carlyle Group has decreased its dividend payment by an average of 13.0% annually over the last three years. The Carlyle Group has a dividend payout ratio of 36.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect The Carlyle Group to earn $2.78 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 31.7%.
Shares of CG opened at $19.46 on Wednesday. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 5.61 and a beta of 1.79. The Carlyle Group has a twelve month low of $18.52 and a twelve month high of $25.90. The company has a debt-to-equity ratio of 2.35, a current ratio of 0.71 and a quick ratio of 0.59.
CG has been the subject of a number of research analyst reports. Oppenheimer set a $35.00 price target on shares of The Carlyle Group and gave the stock a “buy” rating in a report on Wednesday, August 1st. BidaskClub cut shares of The Carlyle Group from a “hold” rating to a “sell” rating in a report on Saturday, September 1st. Morgan Stanley reduced their target price on shares of The Carlyle Group from $31.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, July 12th. ValuEngine cut shares of The Carlyle Group from a “hold” rating to a “sell” rating in a report on Friday, August 3rd. Finally, Zacks Investment Research raised shares of The Carlyle Group from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Tuesday, July 3rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $28.80.
In other news, major shareholder Carlyle Group Management L.L.C sold 2,250,000 shares of The Carlyle Group stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $111.91, for a total value of $251,797,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
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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