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

The Carlyle Group Inc. (NASDAQ:CG) declared a quarterly dividend on Friday, November 8th,Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Monday, November 18th.

The Carlyle Group has increased its dividend payment by an average of 11.2% annually over the last three years. The Carlyle Group has a dividend payout ratio of 31.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect The Carlyle Group to earn $4.42 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 31.7%.

The Carlyle Group Price Performance

The Carlyle Group stock traded down $0.35 during midday trading on Friday, reaching $52.00. The company’s stock had a trading volume of 2,404,740 shares, compared to its average volume of 2,328,088. The firm has a market capitalization of $18.53 billion, a PE ratio of -46.32, a P/E/G ratio of 1.25 and a beta of 1.70. The company has a debt-to-equity ratio of 1.75, a quick ratio of 2.55 and a current ratio of 2.55. The Carlyle Group has a fifty-two week low of $29.29 and a fifty-two week high of $54.52. The stock’s 50 day simple moving average is $45.37 and its 200 day simple moving average is $43.41.

The Carlyle Group (NASDAQ:CG) last posted its earnings results on Wednesday, November 6th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.08. The Carlyle Group had a negative net margin of 11.67% and a positive return on equity of 24.30%. The firm had revenue of $895.00 million during the quarter, compared to the consensus estimate of $908.17 million. During the same quarter in the prior year, the company earned $0.87 EPS. The company’s revenue was up 15.2% on a year-over-year basis. On average, equities research analysts forecast that The Carlyle Group will post 3.71 earnings per share for the current year.

Insider Activity

In other The Carlyle Group news, 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 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 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In the last three months, insiders have sold 1,676,014 shares of company stock valued at $3,687,196. Company insiders own 27.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. JMP Securities restated a “market outperform” rating and issued a $60.00 target price on shares of The Carlyle Group in a report on Wednesday, October 9th. Evercore ISI upped their price target on The Carlyle Group from $45.00 to $47.00 and gave the company an “in-line” rating in a research note on Monday, October 14th. Redburn Atlantic assumed coverage on The Carlyle Group in a report on Tuesday, August 27th. They issued a “buy” rating and a $55.00 price objective for the company. Keefe, Bruyette & Woods increased their price target on The Carlyle Group from $51.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday. Finally, TD Cowen increased their price target on The Carlyle Group from $43.00 to $49.00 and gave the company a “hold” rating in a research report on Friday. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $52.87.

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.