Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in KKR & Co. Inc. (NYSE:KKR – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,608,496 shares of the asset manager’s stock, valued at approximately $147,628,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.18% of KKR & Co. Inc. as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently modified their holdings of KKR. Washington Trust Advisors Inc. bought a new stake in shares of KKR & Co. Inc. in the fourth quarter worth $27,000. Elyxium Wealth LLC acquired a new position in KKR & Co. Inc. during the 4th quarter worth about $27,000. SouthState Bank Corp lifted its holdings in 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 buying an additional 148 shares during the period. Garton & Associates Financial Advisors LLC bought a new stake in shares of KKR & Co. Inc. in the 4th quarter valued at about $29,000. Finally, MV Capital Management Inc. bought a new stake in shares of KKR & Co. Inc. in the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 76.26% of the company’s stock.
KKR & Co. Inc. Trading Down 1.5%
NYSE:KKR opened at $107.21 on Wednesday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $96.24 billion, a price-to-earnings ratio of 34.14, a PEG ratio of 0.97 and a beta of 1.78. The firm has a fifty day simple moving average of $99.30 and a two-hundred day simple moving average of $97.63. KKR & Co. Inc. has a 12 month low of $82.67 and a 12 month high of $152.10.
KKR & Co. Inc. declared that its Board of Directors has initiated a share repurchase program on Tuesday, May 5th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the asset manager to purchase up to 0.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
KKR & Co. Inc. Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Monday, August 10th will be issued 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 dividend payout ratio is presently 24.84%.
Analyst Ratings Changes
A number of equities analysts recently commented on the company. Oppenheimer cut their price objective on KKR & Co. Inc. from $143.00 to $139.00 and set an “outperform” rating on the stock in a research note on Friday, July 17th. UBS Group raised their price target on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. HSBC boosted their price target on shares of KKR & Co. Inc. from $118.00 to $121.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Weiss Ratings raised shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, June 16th. Finally, TD Cowen boosted their target price on shares of KKR & Co. Inc. from $108.00 to $111.00 and gave the company a “hold” rating in a report on Monday, August 3rd. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $127.75.
View Our Latest Analysis on KKR & Co. Inc.
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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