Westpac Banking Corp bought a new stake in KKR & Co. Inc. (NYSE:KKR – Free Report) during the 2nd quarter, HoldingsChannel reports. The fund bought 5,848 shares of the asset manager’s stock, valued at approximately $537,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in KKR. Norges Bank bought a new stake in shares of KKR & Co. Inc. during the 4th quarter worth approximately $1,715,929,000. Bank of New York Mellon Corp bought a new position in KKR & Co. Inc. in the second quarter valued at approximately $298,311,000. Viking Global Investors LP bought a new position in KKR & Co. Inc. in the third quarter valued at approximately $352,038,000. Temasek Holdings Private Ltd raised its position in KKR & Co. Inc. by 164.4% during the first quarter. Temasek Holdings Private Ltd now owns 3,522,797 shares of the asset manager’s stock valued at $325,859,000 after purchasing an additional 2,190,248 shares in the last quarter. Finally, Farallon Capital Management LLC acquired a new position in KKR & Co. Inc. during the fourth quarter valued at approximately $257,216,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on the company. Barclays upped their target price on KKR & Co. Inc. from $124.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Keefe, Bruyette & Woods raised KKR & Co. Inc. to a “moderate buy” rating in a report on Monday, July 20th. Argus upped their price objective 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. Royal Bank Of Canada upped their price objective 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. Finally, BMO Capital Markets raised their price objective on KKR & Co. Inc. from $112.00 to $118.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $127.75.
KKR & Co. Inc. Stock Up 1.5%
Shares of NYSE KKR opened at $108.59 on Friday. KKR & Co. Inc. has a 1 year low of $82.67 and a 1 year high of $152.10. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.09 and a quick ratio of 0.09. The firm has a market cap of $97.47 billion, a PE ratio of 34.58, a price-to-earnings-growth ratio of 0.93 and a beta of 1.78. The company has a 50 day simple moving average of $100.09 and a 200 day simple moving average of $97.62.
KKR & Co. Inc. (NYSE:KKR – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The asset manager reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter last year, the firm earned $1.18 earnings per share. On average, research analysts forecast that KKR & Co. Inc. will post 5.68 EPS for the current year.
KKR & Co. Inc. Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Monday, August 10th will be issued a dividend of $0.195 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.78 annualized dividend and a yield of 0.7%. KKR & Co. Inc.’s payout ratio is presently 24.84%.
KKR & Co. Inc. announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the asset manager to buy up to 0.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is 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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