Global Retirement Partners LLC bought a new position in shares of KKR & Co. Inc. (NYSE:KKR – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 8,108 shares of the asset manager’s stock, valued at approximately $744,000.
Several other institutional investors have also recently added to or reduced their stakes in KKR. Norges Bank purchased a new position in KKR & Co. Inc. in the fourth quarter valued at approximately $1,715,929,000. Bank of New York Mellon Corp acquired a new stake in KKR & Co. Inc. during the second quarter worth approximately $298,311,000. Viking Global Investors LP purchased a new stake in shares of KKR & Co. Inc. during the 3rd quarter worth approximately $352,038,000. Temasek Holdings Private Ltd lifted its position in shares of KKR & Co. Inc. by 164.4% during the 1st quarter. Temasek Holdings Private Ltd now owns 3,522,797 shares of the asset manager’s stock worth $325,859,000 after buying an additional 2,190,248 shares during the last quarter. Finally, Farallon Capital Management LLC acquired a new position in shares of KKR & Co. Inc. in the 4th quarter valued at $257,216,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.
KKR & Co. Inc. Stock Performance
Shares of KKR opened at $107.21 on Wednesday. The company’s 50 day simple moving average is $99.30 and its 200-day simple moving average is $97.63. The firm has a market cap of $96.24 billion, a PE ratio of 34.14, a price-to-earnings-growth 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 authorized a stock repurchase program on Tuesday, May 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the asset manager to buy up to 0.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
KKR & Co. Inc. Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Monday, August 10th will be paid a $0.195 dividend. The ex-dividend date is Monday, August 10th. This represents a $0.78 dividend on an annualized basis and a yield of 0.7%. KKR & Co. Inc.’s payout ratio is currently 24.84%.
Analysts Set New Price Targets
KKR has been the topic of a number of recent analyst reports. Oppenheimer dropped their target price on shares of KKR & Co. Inc. from $143.00 to $139.00 and set an “outperform” rating on the stock in a research report on Friday, July 17th. Royal Bank Of Canada boosted their price target on shares of KKR & Co. Inc. from $125.00 to $134.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. BMO Capital Markets upped their price objective on shares of KKR & Co. Inc. from $112.00 to $118.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Barclays raised their price objective on KKR & Co. Inc. from $124.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Finally, Zacks Research raised KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, KKR & Co. Inc. currently has an average rating of “Moderate Buy” and an average target price of $127.75.
Check Out Our Latest Stock 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.
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