NewEdge Wealth LLC purchased a new position in KKR & Co. Inc. (NYSE:KKR – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 12,537 shares of the asset manager’s stock, valued at approximately $1,151,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in KKR. Praxis Investment Management Inc. boosted its position in shares of KKR & Co. Inc. by 0.9% in the 4th quarter. Praxis Investment Management Inc. now owns 10,006 shares of the asset manager’s stock worth $1,276,000 after purchasing an additional 94 shares in the last quarter. Horizon Bancorp Inc. IN raised its stake in KKR & Co. Inc. by 3.8% in the first quarter. Horizon Bancorp Inc. IN now owns 2,622 shares of the asset manager’s stock valued at $243,000 after buying an additional 95 shares during the last quarter. Western Pacific Wealth Management LP boosted its holdings in KKR & Co. Inc. by 34.8% in the first quarter. Western Pacific Wealth Management LP now owns 387 shares of the asset manager’s stock worth $36,000 after acquiring an additional 100 shares in the last quarter. Wernau Asset Management Inc. boosted its holdings in KKR & Co. Inc. by 1.0% in the first quarter. Wernau Asset Management Inc. now owns 10,877 shares of the asset manager’s stock worth $1,006,000 after acquiring an additional 104 shares in the last quarter. Finally, OLD National Bancorp IN grew its stake in shares of KKR & Co. Inc. by 1.6% during the fourth quarter. OLD National Bancorp IN now owns 6,711 shares of the asset manager’s stock worth $856,000 after acquiring an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have weighed in on KKR shares. 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. TD Cowen lifted their price target 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. Weiss Ratings raised shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, June 16th. BMO Capital Markets raised their target price on KKR & Co. Inc. from $112.00 to $118.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Finally, Argus increased their price target on KKR & Co. Inc. from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $127.75.
KKR & Co. Inc. Trading Up 1.5%
Shares of KKR opened at $108.59 on Friday. KKR & Co. Inc. has a 52-week low of $82.67 and a 52-week high of $152.10. The stock has a market cap of $97.47 billion, a PE ratio of 34.58, a price-to-earnings-growth ratio of 0.91 and a beta of 1.78. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.71. The firm’s fifty day moving average is $100.09 and its two-hundred day moving average is $97.62.
KKR & Co. Inc. (NYSE:KKR – Get Free Report) last released its earnings results on Thursday, July 30th. The asset manager reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.20. KKR & Co. Inc. had a net margin of 14.41% and a return on equity of 5.88%. The business had revenue of $5.73 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period last year, the company posted $1.18 EPS. Research analysts forecast that KKR & Co. Inc. will post 5.68 earnings per share for the current fiscal year.
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 given a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, August 10th. KKR & Co. Inc.’s dividend payout ratio (DPR) is presently 24.84%.
KKR & Co. Inc. announced that its Board of Directors has initiated a share 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 stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
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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