SEB Asset Management AB bought a new stake in KKR & Co. Inc. (NYSE:KKR – Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 170,746 shares of the asset manager’s stock, valued at approximately $15,794,000.
Other hedge funds have also modified their holdings of the company. Washington Trust Advisors Inc. purchased a new position in KKR & Co. Inc. in the 4th quarter worth approximately $27,000. Elyxium Wealth LLC acquired a new stake in KKR & Co. Inc. in the fourth quarter valued at approximately $27,000. SouthState Bank Corp raised its stake in shares of KKR & Co. Inc. by 185.0% during the fourth quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 148 shares during the period. Garton & Associates Financial Advisors LLC purchased a new stake in shares of KKR & Co. Inc. during the fourth quarter valued at approximately $29,000. Finally, MV Capital Management Inc. acquired a new position in shares of KKR & Co. Inc. during the fourth quarter worth $31,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
KKR has been the subject of several analyst reports. Morgan Stanley decreased their target price on shares of KKR & Co. Inc. from $177.00 to $153.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. BMO Capital Markets cut their price objective on shares of KKR & Co. Inc. from $120.00 to $112.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. TD Cowen decreased their price objective on shares of KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating for the company in a research report on Monday, May 18th. Weiss Ratings upgraded KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, June 16th. Finally, Piper Sandler dropped their target price on KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, KKR & Co. Inc. has an average rating of “Moderate Buy” and a consensus target price of $128.58.
Insider Transactions at KKR & Co. Inc.
In other KKR & Co. Inc. news, EVP Yael Cosset sold 30,000 shares of KKR & Co. Inc. stock in a transaction that occurred on Tuesday, July 14th. The stock was sold at an average price of $58.80, for a total value of $1,764,000.00. Following the completion of the transaction, the executive vice president directly owned 127,868 shares in the company, valued at $7,518,638.40. The trade was a 19.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 23.20% of the stock is owned by corporate insiders.
KKR & Co. Inc. Stock Down 4.0%
Shares of NYSE:KKR opened at $96.87 on Tuesday. The stock has a market capitalization of $86.98 billion, a price-to-earnings ratio of 32.95, a price-to-earnings-growth ratio of 0.84 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. The company’s fifty day moving average is $95.42 and its two-hundred day moving average is $101.12. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.08 and a current ratio of 0.08.
KKR & Co. Inc. (NYSE:KKR – Get Free Report) last posted its quarterly earnings results on Friday, February 27th. The asset manager reported $1.24 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. Equities analysts anticipate that KKR & Co. Inc. will post 5.58 EPS for the current year.
KKR & Co. Inc. Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a $0.195 dividend. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.18. This represents a $0.78 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, May 15th. KKR & Co. Inc.’s dividend payout ratio is 26.53%.
KKR & Co. Inc. announced that its Board of Directors has initiated a stock repurchase 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 reacquire up to 0.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
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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