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

The Carlyle Group Inc. (NASDAQ:CG) declared a quarterly dividend on Thursday, October 24th,Wall Street Journal reports. Investors 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 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. Analysts expect The Carlyle Group to earn $4.44 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 31.5%.

The Carlyle Group Trading Down 1.2 %

Shares of NASDAQ:CG opened at $50.46 on Friday. The business’s 50-day moving average is $46.95 and its 200 day moving average is $43.65. The Carlyle Group has a 1 year low of $31.21 and a 1 year high of $54.52. The firm has a market capitalization of $18.05 billion, a P/E ratio of 174.00, a P/E/G ratio of 1.33 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 posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.08. The business 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 company’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.87 EPS. On average, research analysts predict that The Carlyle Group will post 3.77 earnings per share for the current fiscal year.

Insider Buying and Selling at The Carlyle Group

In related news, Director Daniel A. D’aniello sold 495,542 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $51.53, for a total value of $25,535,279.26. Following the completion of the sale, the director now owns 32,504,102 shares of the company’s stock, valued at approximately $1,674,936,376.06. This trade represents a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 that occurred on Wednesday, October 9th. The shares were sold at an average price of $2.14, for a total value of $1,978,357.24. Following the completion of the sale, the insider now directly owns 3,643,231 shares of the company’s stock, valued at approximately $7,796,514.34. This represents a 20.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,171,556 shares of company stock valued at $29,222,475 over the last quarter. 27.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on the company. UBS Group boosted their price target on The Carlyle Group from $43.00 to $54.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company boosted their price target on The Carlyle Group from $42.00 to $48.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. StockNews.com upgraded The Carlyle Group from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Keefe, Bruyette & Woods upped their target price on The Carlyle Group from $51.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, November 8th. Finally, TD Cowen upped their target price on The Carlyle Group from $43.00 to $49.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.