Krilogy Financial LLC acquired a new position in KKR & Co. Inc. (NYSE:KKR – Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,413 shares of the asset manager’s stock, valued at approximately $858,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Asset Dedication LLC purchased a new stake in KKR & Co. Inc. during the third quarter valued at approximately $26,000. Washington Trust Advisors Inc. purchased a new position in shares of KKR & Co. Inc. during the 4th quarter worth $27,000. Elyxium Wealth LLC purchased a new position in shares of KKR & Co. Inc. during the 4th quarter worth $27,000. SouthState Bank Corp grew its position in shares of KKR & Co. Inc. by 185.0% during the 4th quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 148 shares during the period. Finally, Garton & Associates Financial Advisors LLC bought a new stake in shares of KKR & Co. Inc. during the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.
KKR & Co. Inc. Stock Performance
Shares of NYSE KKR opened at $90.20 on Friday. The firm has a fifty day moving average price of $97.42 and a 200-day moving average price of $105.50. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.08 and a quick ratio of 0.08. The stock has a market cap of $80.99 billion, a PE ratio of 30.68, a price-to-earnings-growth ratio of 0.80 and a beta of 1.79. KKR & Co. Inc. has a 1 year low of $82.67 and a 1 year high of $153.87.
KKR & Co. Inc. announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 5th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the asset manager to reacquire up to 0.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.
KKR & Co. Inc. Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were paid a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.9%. This is a positive change from KKR & Co. Inc.’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, May 15th. KKR & Co. Inc.’s dividend payout ratio is currently 26.53%.
Analyst Ratings Changes
A number of brokerages recently commented on KKR. Morgan Stanley decreased their target price on KKR & Co. Inc. from $177.00 to $153.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. The Goldman Sachs Group cut their price target on KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Weiss Ratings upgraded KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, June 16th. Piper Sandler decreased their price objective 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. Finally, TD Cowen decreased their price objective on KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating on the stock in a research note on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, KKR & Co. Inc. currently has an average rating of “Moderate Buy” and an average price target of $134.53.
Read Our Latest Research Report 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.
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