The Carlyle Group LP (NASDAQ:CG) announced a quarterly dividend on Friday, July 31st, Wall Street Journal reports. Shareholders of record on Tuesday, August 11th will be paid a dividend of 0.25 per share by the financial services provider on Tuesday, August 18th. This represents a $1.00 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend is Monday, August 10th.
The Carlyle Group has decreased its dividend by an average of 19.1% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. The Carlyle Group has a payout ratio of 68.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect The Carlyle Group to earn $2.12 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 47.2%.
Shares of CG opened at $28.47 on Friday. The Carlyle Group has a 12 month low of $15.21 and a 12 month high of $34.98. The stock has a market cap of $10.20 billion, a price-to-earnings ratio of -32.35 and a beta of 1.66. The company has a 50-day moving average price of $28.75 and a two-hundred day moving average price of $27.33. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 3.22.
A number of research analysts have recently issued reports on CG shares. Morgan Stanley lifted their target price on shares of The Carlyle Group from $23.00 to $29.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 14th. TheStreet cut The Carlyle Group from a “c” rating to a “d” rating in a report on Tuesday, May 5th. ValuEngine lowered The Carlyle Group from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. Bank of America increased their target price on The Carlyle Group from $25.00 to $27.00 and gave the stock an “underperform” rating in a report on Friday, July 10th. Finally, TD Securities cut The Carlyle Group to a “hold” rating and lifted their price target for the company from $15.50 to $17.00 in a report on Tuesday, June 30th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $28.38.
In other news, major shareholder Carlyle Group Management L.L.C sold 7,545,000 shares of The Carlyle Group stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $29.76, for a total transaction of $224,539,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 12,165,000 shares of company stock worth $784,024,400 in the last ninety days.
The Carlyle Group Company Profile
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.
Further Reading: Ex-Dividend
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