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

The Carlyle Group Inc. (NASDAQ:CG) announced a quarterly dividend on Wednesday, August 7th, Wall Street Journal reports. Investors of record on Friday, August 16th will be given a dividend of 0.35 per share by the financial services provider on Monday, August 26th. This represents a $1.40 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend is Friday, August 16th.

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 31.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect The Carlyle Group to earn $4.38 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 32.0%.

The Carlyle Group Stock Performance

CG traded down $1.12 during midday trading on Wednesday, reaching $38.22. The company had a trading volume of 5,102,244 shares, compared to its average volume of 2,295,985. The company has a market cap of $13.75 billion, a P/E ratio of -21.98, a P/E/G ratio of 1.38 and a beta of 1.75. The Carlyle Group has a 1 year low of $27.13 and a 1 year high of $50.92. The business has a 50-day moving average of $42.47 and a two-hundred day moving average of $43.73. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 1.53.

The Carlyle Group (NASDAQ:CG) last issued its quarterly earnings data on Monday, August 5th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $808.73 million. The Carlyle Group had a negative net margin of 23.04% and a positive return on equity of 23.92%. The company’s revenue for the quarter was up 131.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 EPS. As a group, equities research analysts predict that The Carlyle Group will post 3.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Jefferies Financial Group cut their price target on shares of The Carlyle Group from $49.00 to $44.00 and set a “hold” rating on the stock in a report on Thursday, May 9th. The Goldman Sachs Group decreased their target price on The Carlyle Group from $54.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft increased their target price on shares of The Carlyle Group from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. cut shares of The Carlyle Group from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $46.00 to $44.00 in a research report on Tuesday. Finally, TD Cowen boosted their price objective on shares of The Carlyle Group from $41.00 to $42.00 and gave the stock a “hold” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $45.57.

Insider Buying and Selling

In related news, major shareholder Carlyle Group Inc. sold 24,390 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $30.09, for a total transaction of $733,895.10. Following the completion of the transaction, the insider now owns 11,141,580 shares of the company’s stock, valued at approximately $335,250,142.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders sold 2,065,207 shares of company stock valued at $74,807,347. 27.20% of the stock is currently owned by insiders.

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.