DNB Asset Management AS boosted its stake in KKR & Co. Inc. (NYSE:KKR – Free Report) by 19.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 268,202 shares of the asset manager’s stock after purchasing an additional 42,953 shares during the period. DNB Asset Management AS’s holdings in KKR & Co. Inc. were worth $34,190,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Covenant Asset Management LLC increased its stake in shares of KKR & Co. Inc. by 1,424.8% during the third quarter. Covenant Asset Management LLC now owns 29,826 shares of the asset manager’s stock valued at $3,876,000 after buying an additional 27,870 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of KKR & Co. Inc. by 5.2% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,313,857 shares of the asset manager’s stock valued at $170,736,000 after buying an additional 65,178 shares during the period. Cumberland Partners Ltd increased its stake in shares of KKR & Co. Inc. by 816.2% during the third quarter. Cumberland Partners Ltd now owns 25,791 shares of the asset manager’s stock valued at $3,352,000 after buying an additional 22,976 shares during the period. Banco Santander S.A. increased its stake in shares of KKR & Co. Inc. by 5,405.9% during the third quarter. Banco Santander S.A. now owns 144,970 shares of the asset manager’s stock valued at $18,839,000 after buying an additional 142,337 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG increased its stake in shares of KKR & Co. Inc. by 63.2% during the third quarter. B. Metzler seel. Sohn & Co. AG now owns 98,983 shares of the asset manager’s stock valued at $12,862,000 after buying an additional 38,322 shares during the period. 76.26% of the stock is owned by hedge funds and other institutional investors.
KKR & Co. Inc. Price Performance
Shares of KKR stock opened at $97.16 on Friday. The stock has a market cap of $87.23 billion, a price-to-earnings ratio of 33.05, a PEG ratio of 0.86 and a beta of 1.85. The business’s fifty day moving average is $95.35 and its 200 day moving average is $110.85. KKR & Co. Inc. has a twelve month low of $82.67 and a twelve month high of $153.87. The company has a quick ratio of 0.07, a current ratio of 0.08 and a debt-to-equity ratio of 0.70.
KKR & Co. Inc. announced that its board has approved a stock buyback program on Tuesday, May 5th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
KKR & Co. Inc. Increases Dividend
The company also recently declared 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. The ex-dividend date of this dividend is Friday, May 15th. This is a positive change from KKR & Co. Inc.’s previous quarterly dividend of $0.19. This represents a $0.78 annualized dividend and a yield of 0.8%. KKR & Co. Inc.’s payout ratio is currently 25.17%.
Insider Transactions at KKR & Co. Inc.
In other news, CEO Joseph Y. Bae purchased 125,000 shares of KKR & Co. Inc. stock in a transaction that occurred on Tuesday, February 17th. The shares were bought at an average cost of $102.19 per share, with a total value of $12,773,750.00. Following the completion of the purchase, the chief executive officer directly owned 509,257 shares in the company, valued at approximately $52,040,972.83. This trade represents a 32.53% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Timothy R. Barakett purchased 50,000 shares of KKR & Co. Inc. stock in a transaction that occurred on Wednesday, March 4th. The stock was purchased at an average cost of $94.47 per share, for a total transaction of $4,723,500.00. Following the completion of the purchase, the director owned 285,000 shares of the company’s stock, valued at $26,923,950. This trade represents a 21.28% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 343,872 shares of company stock valued at $34,844,179 in the last three months. Company insiders own 23.20% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on KKR. Wall Street Zen raised KKR & Co. Inc. from a “sell” rating to a “hold” rating in a research note on Sunday, January 25th. HSBC raised KKR & Co. Inc. from a “hold” rating to a “buy” rating and set a $144.00 target price on the stock in a research note on Wednesday, January 28th. TD Cowen boosted their target price on KKR & Co. Inc. from $102.00 to $106.00 and gave the company a “hold” rating in a research note on Wednesday, May 6th. The Goldman Sachs Group reduced their target price on KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Finally, Piper Sandler reduced their target price on KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. One equities 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, KKR & Co. Inc. has a consensus rating of “Moderate Buy” and a consensus price target of $134.67.
View Our Latest Research Report on KKR & Co. Inc.
KKR & Co. Inc. Company 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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