The Carlyle Group Inc. (NASDAQ:CG - Get Free Report) announced 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 2.68%. The ex-dividend date of this dividend is Monday, November 18th.
The Carlyle Group has increased its dividend by an average of 11.2% per year over the last three years. The Carlyle Group has a payout ratio of 31.7% meaning 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 $0.02 during mid-day trading on Friday, hitting $52.33. 3,324,443 shares of the company were exchanged, compared to its average volume of 2,513,819. The Carlyle Group has a 1-year low of $29.29 and a 1-year high of $54.52. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 1.75. The business has a fifty day moving average of $45.62 and a 200 day moving average of $43.44. The company has a market capitalization of $18.65 billion, a PE ratio of -46.72, a price-to-earnings-growth ratio of 1.38 and a beta of 1.70.
The Carlyle Group (NASDAQ:CG - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $0.08. The firm had revenue of $895.00 million for the quarter, compared to analyst estimates of $908.17 million. The Carlyle Group had a negative net margin of 11.67% and a positive return on equity of 24.30%. The company's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.87 earnings per share. As a group, sell-side analysts expect that The Carlyle Group will post 3.71 earnings per share for the current year.
Insiders Place Their Bets
In related news, major shareholder Carlyle Group Inc. sold 924,466 shares of the business's stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $2.14, for a total transaction of $1,978,357.24. Following the completion of the transaction, the insider now owns 3,643,231 shares in the company, valued at approximately $7,796,514.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 1,676,014 shares of company stock worth $3,687,196. Insiders own 27.20% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft cut their price objective on The Carlyle Group from $55.00 to $53.00 and set a "buy" rating for the company in a research report on Thursday, August 15th. Keefe, Bruyette & Woods upped their price target on shares of The Carlyle Group from $51.00 to $55.00 and gave the stock a "market perform" rating in a research report on Friday. UBS Group raised their price objective on shares of The Carlyle Group from $43.00 to $54.00 and gave the company a "neutral" rating in a research report on Tuesday, October 22nd. Morgan Stanley upped their target price on shares of The Carlyle Group from $46.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 10th. Finally, Barclays raised their price target on shares of The Carlyle Group from $50.00 to $57.00 and gave the company an "overweight" rating in a 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 data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $52.87.
Check Out Our Latest Research Report on The Carlyle Group
About The Carlyle Group
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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.
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