Clear Harbor Asset Management LLC acquired a new stake in shares of KKR & Co. Inc. (NYSE:KKR – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,229 shares of the asset manager’s stock, valued at approximately $1,031,000.
Several other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in KKR & Co. Inc. in the fourth quarter worth $1,715,929,000. Bank of New York Mellon Corp bought a new position in shares of KKR & Co. Inc. during the second quarter worth $298,311,000. Viking Global Investors LP acquired a new position in shares of KKR & Co. Inc. in the 3rd quarter valued at $352,038,000. Temasek Holdings Private Ltd grew its holdings in shares of KKR & Co. Inc. by 164.4% in the 1st quarter. Temasek Holdings Private Ltd now owns 3,522,797 shares of the asset manager’s stock valued at $325,859,000 after buying an additional 2,190,248 shares during the period. Finally, Farallon Capital Management LLC acquired a new position in shares of KKR & Co. Inc. in the 4th quarter valued at $257,216,000. Institutional investors own 76.26% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts recently commented on KKR shares. BMO Capital Markets raised their price objective on KKR & Co. Inc. from $112.00 to $118.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. TD Cowen boosted their target price on KKR & Co. Inc. from $108.00 to $111.00 and gave the company a “hold” rating in a research note on Monday, August 3rd. UBS Group boosted their target price on KKR & Co. Inc. from $113.00 to $126.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Barclays increased their price target 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, Royal Bank Of Canada raised their price target on KKR & Co. Inc. from $125.00 to $134.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $127.75.
KKR & Co. Inc. Stock Up 1.5%
Shares of KKR stock opened at $108.59 on Friday. The firm has a fifty day moving average of $100.09 and a 200-day moving average of $97.62. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.71. KKR & Co. Inc. has a 12-month low of $82.67 and a 12-month high of $152.10. The company has a market capitalization of $97.47 billion, a price-to-earnings ratio of 34.58, a P/E/G ratio of 0.93 and a beta of 1.78.
KKR & Co. Inc. (NYSE:KKR – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The asset manager reported $1.63 EPS for the quarter, beating the consensus estimate of $1.43 by $0.20. The business had revenue of $5.73 billion for the quarter, compared to analysts’ expectations of $2.55 billion. KKR & Co. Inc. had a net margin of 14.41% and a return on equity of 5.88%. During the same period in the previous year, the firm posted $1.18 EPS. As a group, equities research analysts predict 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. Stockholders 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 dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 10th. KKR & Co. Inc.’s dividend payout ratio is currently 24.84%.
KKR & Co. Inc. announced that its Board of Directors has initiated a share buyback plan on Tuesday, May 5th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the asset manager to buy up to 0.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
KKR & Co. Inc. Profile
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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