KKR & Co. Inc. (NYSE:KKR) Increases Dividend to $0.18 Per Share

KKR & Co. Inc. (NYSE:KKR) announced a quarterly dividend on Wednesday, May 1st, Zacks reports. Investors of record on Monday, May 13th will be given a dividend of 0.175 per share by the asset manager on Tuesday, May 28th. This represents a $0.70 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Friday, May 10th. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.17.

KKR & Co. Inc. has increased its dividend payment by an average of 7.0% per year over the last three years and has increased its dividend every year for the last 3 years. KKR & Co. Inc. has a dividend payout ratio of 10.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect KKR & Co. Inc. to earn $5.35 per share next year, which means the company should continue to be able to cover its $0.66 annual dividend with an expected future payout ratio of 12.3%.

KKR & Co. Inc. Trading Down 2.2 %

KKR stock traded down $2.12 during midday trading on Friday, reaching $95.01. 5,827,150 shares of the company’s stock traded hands, compared to its average volume of 3,541,306. KKR & Co. Inc. has a fifty-two week low of $47.79 and a fifty-two week high of $103.48. The business has a 50-day moving average price of $97.61 and a two-hundred day moving average price of $84.30. The company has a market capitalization of $84.08 billion, a P/E ratio of 21.30, a PEG ratio of 0.88 and a beta of 1.62. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.11 and a quick ratio of 0.11.

KKR & Co. Inc. (NYSE:KKR) last posted its earnings results on Tuesday, February 6th. The asset manager reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.03. KKR & Co. Inc. had a net margin of 19.38% and a return on equity of 4.45%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $995.64 million. Equities research analysts forecast that KKR & Co. Inc. will post 4.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

KKR has been the subject of several analyst reports. StockNews.com raised KKR & Co. Inc. from a “sell” rating to a “hold” rating in a research report on Thursday. Wells Fargo & Company boosted their target price on shares of KKR & Co. Inc. from $93.00 to $103.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $104.00 price target on shares of KKR & Co. Inc. in a report on Thursday, April 4th. Barclays upped their price objective on shares of KKR & Co. Inc. from $113.00 to $114.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, TD Cowen cut their target price on KKR & Co. Inc. from $154.00 to $148.00 and set a “buy” rating on the stock in a research report on Thursday. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, KKR & Co. Inc. has a consensus rating of “Moderate Buy” and an average target price of $91.00.

Insiders Place Their Bets

In related news, major shareholder Kkr Group Partnership L.P. sold 13,800,000 shares of KKR & Co. Inc. stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $9.87, for a total value of $136,206,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other KKR & Co. Inc. news, major shareholder Kkr Group Partnership L.P. sold 13,800,000 shares of KKR & Co. Inc. stock in a transaction on Monday, March 11th. The stock was sold at an average price of $9.87, for a total transaction of $136,206,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Kkr Alternative Assets Llc purchased 571,429 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was acquired at an average cost of $25.00 per share, with a total value of $14,285,725.00. Following the purchase, the insider now owns 1,000,687 shares of the company’s stock, valued at approximately $25,017,175. The disclosure for this purchase can be found here. 39.34% of the stock is owned by corporate insiders.

About KKR & Co. Inc.

KKR & Co Inc is a private equity and real estate investment firm specializing in direct and fund of fund investments. It specializes in acquisitions, leveraged buyouts, management buyouts, credit special situations, growth equity, mature, mezzanine, distressed, turnaround, lower middle market and middle market investments.