KKR & Co Inc (NYSE:KKR) Rating Lowered to Hold at Zacks Investment Research

KKR & Co Inc (NYSE:KKR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports.

According to Zacks, “KKR & Co. Inc. operates as an investment firm. The Company manages investments such as private equity, energy, infrastructure, real estate, credit strategies and hedge funds. KKR & Co. Inc., formerly known as KKR & Co. L.P., is based in New York. “

KKR has been the subject of several other reports. Wells Fargo & Company reaffirmed a “buy” rating on shares of KKR & Co Inc in a research note on Thursday, July 16th. Oppenheimer upped their price objective on shares of KKR & Co Inc from $34.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Citigroup reaffirmed a “focus list” rating on shares of KKR & Co Inc in a research note on Wednesday, August 5th. Bank of America increased their price target on shares of KKR & Co Inc from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Finally, Morgan Stanley increased their price target on shares of KKR & Co Inc from $35.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 6th. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. KKR & Co Inc presently has a consensus rating of “Buy” and an average price target of $37.00.

Shares of KKR stock opened at $36.14 on Tuesday. The company’s fifty day simple moving average is $35.56 and its two-hundred day simple moving average is $29.55. The stock has a market capitalization of $20.21 billion, a price-to-earnings ratio of 133.85 and a beta of 1.45. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.16 and a quick ratio of 1.16. KKR & Co Inc has a 1 year low of $15.55 and a 1 year high of $37.17.

KKR & Co Inc (NYSE:KKR) last released its quarterly earnings results on Tuesday, August 4th. The asset manager reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $420.68 million. KKR & Co Inc had a net margin of 47.50% and a return on equity of 4.34%. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.39 EPS. Equities research analysts anticipate that KKR & Co Inc will post 1.55 EPS for the current year.

In other news, major shareholder Kkr Group Partnership L.P. sold 5,000,000 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $98.00, for a total transaction of $490,000,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 39.34% of the company’s stock.

Large investors have recently bought and sold shares of the company. Douglas Lane & Associates LLC boosted its position in KKR & Co Inc by 3.7% in the 2nd quarter. Douglas Lane & Associates LLC now owns 14,100 shares of the asset manager’s stock valued at $435,000 after buying an additional 500 shares during the period. Fifth Third Bancorp raised its holdings in shares of KKR & Co Inc by 23.0% in the 1st quarter. Fifth Third Bancorp now owns 2,737 shares of the asset manager’s stock valued at $64,000 after purchasing an additional 511 shares in the last quarter. Global Wealth Management Investment Advisory Inc. raised its stake in shares of KKR & Co Inc by 32.8% during the 2nd quarter. Global Wealth Management Investment Advisory Inc. now owns 2,130 shares of the asset manager’s stock worth $66,000 after acquiring an additional 526 shares in the last quarter. CSat Investment Advisory L.P. raised its stake in shares of KKR & Co Inc by 48.7% during the 2nd quarter. CSat Investment Advisory L.P. now owns 1,682 shares of the asset manager’s stock worth $52,000 after acquiring an additional 551 shares in the last quarter. Finally, Mirador Capital Partners LP raised its stake in shares of KKR & Co Inc by 0.8% during the 2nd quarter. Mirador Capital Partners LP now owns 80,403 shares of the asset manager’s stock worth $2,483,000 after acquiring an additional 637 shares in the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

KKR & Co Inc Company Profile

KKR & Co L.P. 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.

Recommended Story: Why are trading ranges significant?

Get a free copy of the Zacks research report on KKR & Co Inc (KKR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for KKR & Co Inc (NYSE:KKR)

Receive News & Ratings for KKR & Co Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KKR & Co Inc and related companies with MarketBeat.com's FREE daily email newsletter.