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

The Carlyle Group Inc. (NASDAQ:CG) announced a quarterly dividend on Wednesday, July 24th, Wall Street Journal reports. Investors of record on Friday, August 16th will be paid a dividend of 0.35 per share by the financial services provider on Monday, August 26th. This represents a $1.40 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Friday, August 16th.

The Carlyle Group has increased its dividend 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. 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 Price Performance

NASDAQ CG traded up $0.03 on Wednesday, hitting $40.38. The company had a trading volume of 640,752 shares, compared to its average volume of 2,284,295. The company has a market capitalization of $14.53 billion, a PE ratio of -22.54, a PEG ratio of 1.38 and a beta of 1.75. The company’s fifty day moving average price is $42.15 and its 200-day moving average price is $43.70. The company has a debt-to-equity ratio of 1.53, a current ratio of 2.53 and a quick ratio of 2.53. The Carlyle Group has a 12-month low of $27.13 and a 12-month high of $50.92.

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Barclays lowered their target price on shares of The Carlyle Group from $51.00 to $46.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Jefferies Financial Group lowered their target price on shares of The Carlyle Group from $49.00 to $44.00 and set a “hold” rating on the stock in a research note on Thursday, May 9th. TD Cowen lifted their target price 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, August 6th. The Goldman Sachs Group lowered their price target on shares of The Carlyle Group from $54.00 to $48.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Finally, Keefe, Bruyette & Woods lowered their price target on shares of The Carlyle Group from $48.00 to $46.00 and set a “market perform” rating on the stock in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, The Carlyle Group has an average rating of “Hold” and a consensus target price of $45.57.

Insider Buying and Selling at The Carlyle Group

In other The Carlyle Group news, major shareholder Carlyle Group Inc. sold 169,467 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $42.10, for a total value of $7,134,560.70. Following the transaction, the insider now owns 8,724,346 shares of the company’s stock, valued at $367,294,966.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 2,261,559 shares of company stock valued at $82,700,460 over the last 90 days. 27.20% of the stock is owned by insiders.

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.