World Investment Advisors boosted its position in shares of KKR & Co. Inc. (NYSE:KKR – Free Report) by 26.1% during the 4th quarter, HoldingsChannel reports. The firm owned 29,392 shares of the asset manager’s stock after buying an additional 6,089 shares during the quarter. World Investment Advisors’ holdings in KKR & Co. Inc. were worth $3,437,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of KKR & Co. Inc. by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 60,064,587 shares of the asset manager’s stock valued at $7,657,034,000 after buying an additional 821,739 shares during the period. Legal & General Group Plc boosted its stake in shares of KKR & Co. Inc. by 1.4% during the 3rd quarter. Legal & General Group Plc now owns 4,642,005 shares of the asset manager’s stock valued at $603,229,000 after buying an additional 65,695 shares during the period. Strive Asset Management LLC acquired a new stake in shares of KKR & Co. Inc. during the 3rd quarter valued at $535,907,000. Viking Global Investors LP acquired a new stake in shares of KKR & Co. Inc. during the 3rd quarter valued at $352,038,000. Finally, CI Investments Inc. grew its stake in KKR & Co. Inc. by 11.5% in the third quarter. CI Investments Inc. now owns 1,745,345 shares of the asset manager’s stock valued at $226,808,000 after purchasing an additional 179,793 shares in the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have commented on KKR shares. Oppenheimer lowered their target price on KKR & Co. Inc. from $187.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday, April 13th. Zacks Research downgraded KKR & Co. Inc. from a “hold” rating to a “strong sell” rating in a research note on Monday, April 13th. Royal Bank Of Canada lowered their target price on KKR & Co. Inc. from $132.00 to $128.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 6th. Weiss Ratings restated a “hold (c-)” rating on shares of KKR & Co. Inc. in a research note on Monday, May 4th. Finally, BMO Capital Markets lowered their target price on KKR & Co. Inc. from $125.00 to $106.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, KKR & Co. Inc. presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.67.
KKR & Co. Inc. Stock Up 2.2%
KKR stock opened at $99.61 on Friday. The company has a current ratio of 0.08, a quick ratio of 0.07 and a debt-to-equity ratio of 0.70. KKR & Co. Inc. has a 1 year low of $82.67 and a 1 year high of $153.87. The company has a fifty day simple moving average of $95.28 and a 200 day simple moving average of $110.95. The firm has a market cap of $89.43 billion, a PE ratio of 33.88, a PEG ratio of 0.86 and a beta of 1.85.
KKR & Co. Inc. (NYSE:KKR – Get Free Report) last released its quarterly earnings data on Friday, February 27th. The asset manager reported $1.24 earnings per share (EPS) for the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. The business had revenue of $5.74 billion during the quarter. Sell-side analysts anticipate that KKR & Co. Inc. will post 5.46 EPS for the current fiscal year.
KKR & Co. Inc. Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be paid a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, May 15th. This is a boost from KKR & Co. Inc.’s previous quarterly dividend of $0.19. KKR & Co. Inc.’s dividend payout ratio (DPR) is presently 25.17%.
KKR & Co. Inc. announced that its board has initiated 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
Insider Buying and Selling at KKR & Co. Inc.
In other KKR & Co. Inc. news, Director Timothy R. Barakett acquired 50,000 shares of KKR & Co. Inc. stock in a transaction that occurred on Wednesday, March 4th. The stock was acquired at an average price of $94.47 per share, with a total value of $4,723,500.00. Following the purchase, the director owned 285,000 shares in the company, valued at approximately $26,923,950. This trade represents a 21.28% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Scott C. Nuttall acquired 125,000 shares of KKR & Co. Inc. stock in a transaction that occurred on Tuesday, February 17th. The stock was acquired at an average cost of $102.66 per share, with a total value of $12,832,500.00. Following the purchase, the chief executive officer owned 15,503,748 shares in the company, valued at $1,591,614,769.68. The trade was a 0.81% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 343,872 shares of company stock worth $34,844,179 in the last 90 days. 23.20% of the stock is currently owned by company insiders.
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.
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