Danica Pension Livsforsikringsaktieselskab purchased a new position in KKR & Co. Inc. (NYSE:KKR – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 101,864 shares of the asset manager’s stock, valued at approximately $9,349,000.
Several other institutional investors have also recently made changes to their positions in the stock. Washington Trust Advisors Inc. bought a new stake in shares of KKR & Co. Inc. during the fourth quarter valued at approximately $27,000. Elyxium Wealth LLC acquired a new stake in KKR & Co. Inc. in the 4th quarter valued at $27,000. SouthState Bank Corp increased its stake in 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 purchasing an additional 148 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in KKR & Co. Inc. during the fourth quarter worth $29,000. Finally, MV Capital Management Inc. bought a new position in shares of KKR & Co. Inc. in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 76.26% of the company’s stock.
KKR & Co. Inc. Stock Performance
Shares of KKR stock opened at $107.21 on Wednesday. The firm’s 50 day moving average is $99.30 and its 200 day moving average is $97.63. The stock has a market capitalization of $96.24 billion, a P/E ratio of 34.14, a PEG ratio of 0.97 and a beta of 1.78. KKR & Co. Inc. has a 12 month low of $82.67 and a 12 month high of $152.10. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.71.
KKR & Co. Inc. announced that its Board of Directors has initiated a stock buyback program on Tuesday, May 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the asset manager to reacquire up to 0.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
KKR & Co. Inc. Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Monday, August 10th will be given a $0.195 dividend. The ex-dividend date is Monday, August 10th. This represents a $0.78 annualized dividend and a yield of 0.7%. KKR & Co. Inc.’s payout ratio is 24.84%.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the stock. Weiss Ratings raised shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, June 16th. Barclays raised their target price on KKR & Co. Inc. from $124.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Morgan Stanley decreased their price target 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. Royal Bank Of Canada raised their price objective on KKR & Co. Inc. from $125.00 to $134.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Finally, HSBC upped their target price 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. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, KKR & Co. Inc. currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.75.
Read Our Latest Stock Report 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.
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