Handelsbanken Fonder AB boosted its stake in shares of KKR & Co. Inc. (NYSE:KKR – Free Report) by 22.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 331,880 shares of the asset manager’s stock after purchasing an additional 60,571 shares during the period. Handelsbanken Fonder AB’s holdings in KKR & Co. Inc. were worth $30,460,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Washington Trust Advisors Inc. bought a new position in KKR & Co. Inc. during the fourth quarter valued at $27,000. Elyxium Wealth LLC bought a new stake in shares of KKR & Co. Inc. in the 4th quarter worth about $27,000. SouthState Bank Corp boosted its stake 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 worth $29,000 after purchasing an additional 148 shares during the period. Garton & Associates Financial Advisors LLC purchased a new position in shares of KKR & Co. Inc. during the 4th quarter worth about $29,000. Finally, MV Capital Management Inc. bought a new position in KKR & Co. Inc. during the 4th quarter valued at about $31,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.
KKR & Co. Inc. Stock Up 6.9%
Shares of NYSE KKR opened at $111.04 on Wednesday. KKR & Co. Inc. has a 52-week low of $82.67 and a 52-week high of $152.10. The firm has a market capitalization of $99.67 billion, a price-to-earnings ratio of 35.36, a PEG ratio of 0.89 and a beta of 1.78. The stock has a 50 day moving average price of $97.54 and a 200 day moving average price of $97.91. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.09 and a current ratio of 0.09.
KKR & Co. Inc. Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Monday, August 10th will be issued a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, August 10th. KKR & Co. Inc.’s payout ratio is presently 24.84%.
KKR & Co. Inc. declared that its board has approved a share 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 buy up to 0.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on KKR. HSBC raised their price objective on shares of KKR & Co. Inc. from $118.00 to $121.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Oppenheimer decreased their price target on KKR & Co. Inc. from $143.00 to $139.00 and set an “outperform” rating for the company in a research note on Friday, July 17th. Morgan Stanley dropped their price objective on KKR & Co. Inc. from $153.00 to $147.00 and set an “overweight” rating for the company in a report on Tuesday, July 21st. TD Cowen upped their price objective on KKR & Co. Inc. from $108.00 to $111.00 and gave the company a “hold” rating in a research report on Monday, August 3rd. Finally, Argus increased their target price on KKR & Co. Inc. from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, KKR & Co. Inc. presently has an average rating of “Moderate Buy” and a consensus target price of $127.75.
Read Our Latest Analysis on KKR
About KKR & Co. Inc.
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.
Read More
- Five stocks we like better than KKR & Co. Inc.
- Atlassian Just Pulled Off the Software Comeback Wall Street Wanted
- AST SpaceMobile Earnings Just Reminded Investors How Risky Space Can Be
- NVIDIA’s Rally Sets Up a Bigger Test Ahead of Earnings
- Apple’s Next iPhone Could Test How Much Pricing Power Is Left
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.
