Carlyle Group (NASDAQ:CG) Hits New 12-Month High After Dividend Announcement

Key Points

• The Carlyle Group Inc. (NASDAQ:CG) shares hit a new 52-week high of $64.09 following the announcement of a dividend of $0.35 per share, which translates to an annual dividend yield of 2.2%.
• Recent analyst ratings show a mix of optimism, with recommendations ranging from "hold" to "buy," and a consensus target price for the stock set at $57.73.
• For its latest quarter, Carlyle Group reported earnings of $1.14 per share, exceeding expectations and indicating a 2.0% year-over-year revenue growth.

Shares of Carlyle Group Inc. (NASDAQ:CG - Get Free Report) reached a new 52-week high during trading on Thursday after the company announced a dividend. The stock traded as high as $64.09 and last traded at $62.52, with a volume of 216703 shares changing hands. The stock had previously closed at $62.90.

The newly announced dividend which will be paid on Thursday, August 28th. Stockholders of record on Monday, August 18th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.2%. Carlyle Group's dividend payout ratio is currently 40.94%.

Wall Street Analyst Weigh In

Several research firms recently commented on CG. Evercore ISI raised their price target on shares of Carlyle Group from $45.00 to $58.00 and gave the company an "in-line" rating in a research report on Thursday, July 10th. Cowen upgraded Carlyle Group from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. TD Cowen upgraded Carlyle Group from a "hold" rating to a "buy" rating and set a $56.00 target price on the stock in a research report on Wednesday, May 14th. JMP Securities raised their price objective on Carlyle Group from $58.00 to $70.00 and gave the company a "market outperform" rating in a report on Monday, July 14th. Finally, Morgan Stanley dropped their price objective on Carlyle Group from $57.00 to $44.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $58.40.

Carlyle Group Stock Up 1.1%

The company has a debt-to-equity ratio of 1.52, a quick ratio of 2.36 and a current ratio of 2.24. The business has a 50-day simple moving average of $54.26 and a two-hundred day simple moving average of $48.18. The company has a market capitalization of $22.47 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 1.18 and a beta of 1.90.

Carlyle Group (NASDAQ:CG - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The financial services provider reported $1.14 EPS for the quarter, beating analysts' consensus estimates of $0.97 by $0.17. Carlyle Group had a net margin of 20.22% and a return on equity of 23.60%. The firm had revenue of $973.10 million during the quarter, compared to the consensus estimate of $972.27 million. During the same quarter last year, the firm earned $1.01 earnings per share. The firm's revenue was up 2.0% compared to the same quarter last year. As a group, equities analysts predict that Carlyle Group Inc. will post 4.48 EPS for the current year.

Institutional Trading of Carlyle Group

Several hedge funds and other institutional investors have recently made changes to their positions in CG. Teacher Retirement System of Texas acquired a new position in shares of Carlyle Group during the 1st quarter worth approximately $1,481,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Carlyle Group by 105.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,929 shares of the financial services provider's stock worth $476,000 after acquiring an additional 5,611 shares during the last quarter. Invesco Ltd. raised its stake in Carlyle Group by 9.7% in the 4th quarter. Invesco Ltd. now owns 650,735 shares of the financial services provider's stock valued at $32,856,000 after purchasing an additional 57,606 shares during the last quarter. Private Trust Co. NA raised its stake in Carlyle Group by 101.9% in the 1st quarter. Private Trust Co. NA now owns 636 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 321 shares during the last quarter. Finally, Bessemer Group Inc. raised its stake in Carlyle Group by 247.7% in the 1st quarter. Bessemer Group Inc. now owns 1,217 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 867 shares during the last quarter. Institutional investors and hedge funds own 55.88% of the company's stock.

About 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.