ABC Arbitrage SA boosted its stake in shares of KKR & Co. Inc. (NYSE:KKR – Free Report) by 50.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 39,769 shares of the asset manager’s stock after purchasing an additional 13,384 shares during the quarter. ABC Arbitrage SA’s holdings in KKR & Co. Inc. were worth $5,070,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in KKR. SteelPeak Wealth LLC grew its holdings in shares of KKR & Co. Inc. by 3.2% in the 4th quarter. SteelPeak Wealth LLC now owns 2,549 shares of the asset manager’s stock worth $325,000 after acquiring an additional 80 shares during the period. Diversified Trust Co. grew its holdings in KKR & Co. Inc. by 1.5% in the fourth quarter. Diversified Trust Co. now owns 5,562 shares of the asset manager’s stock valued at $709,000 after purchasing an additional 82 shares during the last quarter. Modera Wealth Management LLC grew its holdings in KKR & Co. Inc. by 4.9% in the fourth quarter. Modera Wealth Management LLC now owns 1,789 shares of the asset manager’s stock valued at $228,000 after purchasing an additional 84 shares during the last quarter. Sound Income Strategies LLC grew its holdings in KKR & Co. Inc. by 9.1% in the fourth quarter. Sound Income Strategies LLC now owns 1,084 shares of the asset manager’s stock valued at $143,000 after purchasing an additional 90 shares during the last quarter. Finally, Cornerstone Advisory LLC increased its position in shares of KKR & Co. Inc. by 3.0% in the third quarter. Cornerstone Advisory LLC now owns 3,189 shares of the asset manager’s stock valued at $414,000 after buying an additional 92 shares in the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other KKR & Co. Inc. news, Director Timothy R. Barakett purchased 50,000 shares of KKR & Co. Inc. stock in a transaction on Wednesday, March 4th. The shares were bought at an average price of $94.47 per share, with a total value of $4,723,500.00. Following the purchase, the director directly owned 285,000 shares in the company, valued at $26,923,950. This trade represents a 21.28% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph Y. Bae acquired 125,000 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were acquired at an average price of $102.19 per share, for a total transaction of $12,773,750.00. Following the acquisition, the chief executive officer directly owned 509,257 shares of the company’s stock, valued at approximately $52,040,972.83. The trade was a 32.53% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 343,872 shares of company stock valued at $34,844,179. Insiders own 23.20% of the company’s stock.
KKR & Co. Inc. Price Performance
KKR & Co. Inc. (NYSE:KKR – Get Free Report) last posted its quarterly earnings data on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. The business had revenue of $5.74 billion during the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.50%. Equities analysts predict that KKR & Co. Inc. will post 5.39 earnings per share for the current year.
KKR & Co. Inc. announced that its board has approved a stock repurchase plan on Tuesday, May 5th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the asset manager to reacquire up to 0.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
KKR & Co. Inc. Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be issued a $0.195 dividend. This is a boost from KKR & Co. Inc.’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, May 15th. This represents a $0.78 annualized dividend and a yield of 0.8%. KKR & Co. Inc.’s payout ratio is presently 25.17%.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on KKR. TD Cowen lifted their price target on KKR & Co. Inc. from $102.00 to $106.00 and gave the stock a “hold” rating in a research note on Wednesday, May 6th. Zacks Research downgraded shares of KKR & Co. Inc. from a “hold” rating to a “strong sell” rating in a report on Monday, April 13th. Weiss Ratings restated a “hold (c-)” rating on shares of KKR & Co. Inc. in a research report on Monday, May 4th. Morgan Stanley reduced their price target on shares of KKR & Co. Inc. from $177.00 to $153.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. Finally, Barclays lowered their price target on shares of KKR & Co. Inc. from $127.00 to $122.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, KKR & Co. Inc. currently has an average rating of “Moderate Buy” and a consensus price target of $134.67.
View Our Latest Stock Analysis on KKR
KKR & Co. Inc. Profile
KKR & Co Inc is a global investment firm headquartered in New York City that specializes in private markets and alternative asset management. Founded in 1976 by Jerome Kohlberg Jr., Henry Kravis and George R. Roberts, the firm built its reputation in leveraged buyouts and has since expanded into a multi-strategy asset manager. KKR operates across private equity, credit, real assets (including real estate and infrastructure), growth equity and hedge fund strategies, offering a range of investment products and strategies for institutional and private investors.
KKR manages capital through traditional closed-end funds as well as customized vehicles such as separate accounts, co-investments, and listed investment vehicles.
Featured Articles
- Five stocks we like better than KKR & Co. Inc.
- Before the Moon Base Gets Built, These 4 Companies Win
- Industrial Buybacks: Top Homebuilding Supplier Leads Buyback Increases
- 3 Stocks That Win If Inflation Surprises to the Downside
- MercadoLibre Boldly Invests in Growth: Discount Deepens
Want to see what other hedge funds are holding KKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KKR & Co. Inc. (NYSE:KKR – Free Report).
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.
