128,327 Shares in KKR & Co. Inc. $KKR Acquired by Varma Mutual Pension Insurance Co

Varma Mutual Pension Insurance Co bought a new position in shares of KKR & Co. Inc. (NYSE:KKRFree Report) during the second quarter, HoldingsChannel.com reports. The firm bought 128,327 shares of the asset manager’s stock, valued at approximately $11,778,000.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of KKR & Co. Inc. by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 60,064,587 shares of the asset manager’s stock valued at $7,657,034,000 after buying an additional 821,739 shares in the last quarter. Principal Financial Group Inc. raised its holdings in KKR & Co. Inc. by 6.9% during the first quarter. Principal Financial Group Inc. now owns 19,507,741 shares of the asset manager’s stock valued at $1,804,470,000 after acquiring an additional 1,261,314 shares during the period. Geode Capital Management LLC raised its holdings in KKR & Co. Inc. by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 14,995,742 shares of the asset manager’s stock valued at $1,903,220,000 after acquiring an additional 146,285 shares during the period. Norges Bank purchased a new position in shares of KKR & Co. Inc. in the fourth quarter valued at about $1,715,929,000. Finally, First Manhattan CO. LLC. lifted its position in shares of KKR & Co. Inc. by 0.8% in the fourth quarter. First Manhattan CO. LLC. now owns 8,597,044 shares of the asset manager’s stock valued at $1,095,951,000 after acquiring an additional 67,441 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on KKR shares. BMO Capital Markets upped 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. UBS Group boosted their price target on KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Weiss Ratings upgraded KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, June 16th. Barclays increased their price objective on shares of KKR & Co. Inc. from $124.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Finally, Oppenheimer reduced their price objective 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. Twelve equities 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.75.

Read Our Latest Stock Analysis on KKR

KKR & Co. Inc. Stock Up 0.1%

Shares of NYSE KKR opened at $108.59 on Monday. The stock has a market capitalization of $97.47 billion, a price-to-earnings ratio of 34.58, a P/E/G ratio of 0.92 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. The firm’s 50-day moving average price is $100.09 and its 200-day moving average price is $97.51.

KKR & Co. Inc. (NYSE:KKRGet Free Report) last announced its earnings results on Thursday, July 30th. The asset manager reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.20. KKR & Co. Inc. had a return on equity of 5.88% and a net margin of 14.41%.The firm had revenue of $5.73 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter in the previous year, the business earned $1.18 EPS. On average, equities research analysts anticipate that KKR & Co. Inc. will post 5.68 EPS for the current fiscal year.

KKR & Co. Inc. Announces Dividend

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 issued a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, August 10th. KKR & Co. Inc.’s payout ratio is presently 24.84%.

KKR & Co. Inc. declared that its board has initiated a stock buyback 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 repurchase up to 0.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

KKR & Co. Inc. Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding KKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KKR & Co. Inc. (NYSE:KKRFree Report).

Institutional Ownership by Quarter for KKR & Co. Inc. (NYSE:KKR)

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