Leonteq Securities AG purchased a new position in shares of KKR & Co. Inc. (NYSE:KKR – Free Report) in the 4th quarter, Holdings Channel reports. The firm purchased 31,536 shares of the asset manager’s stock, valued at approximately $4,020,000.
Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of KKR & Co. Inc. by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 60,064,587 shares of the asset manager’s stock worth $7,657,034,000 after buying an additional 821,739 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of KKR & Co. Inc. by 1.4% during the third quarter. Legal & General Group Plc now owns 4,642,005 shares of the asset manager’s stock worth $603,229,000 after buying an additional 65,695 shares in the last quarter. Strive Asset Management LLC acquired a new position in shares of KKR & Co. Inc. during the third quarter worth $535,907,000. Viking Global Investors LP acquired a new position in shares of KKR & Co. Inc. during the third quarter worth $352,038,000. Finally, CI Investments Inc. increased its holdings in shares of KKR & Co. Inc. by 11.5% during the third quarter. CI Investments Inc. now owns 1,745,345 shares of the asset manager’s stock worth $226,808,000 after buying an additional 179,793 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of KKR & Co. Inc. in a report on Monday, May 4th. UBS Group lifted their target price on KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Wall Street Zen raised KKR & Co. Inc. from a “sell” rating to a “hold” rating in a report on Sunday, January 25th. TD Cowen cut their target price on KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating on the stock in a report on Monday. Finally, Zacks Research downgraded KKR & Co. Inc. from a “hold” rating to a “strong sell” rating in a report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.53.
KKR & Co. Inc. Price Performance
KKR stock opened at $94.37 on Thursday. The firm has a market cap of $84.73 billion, a price-to-earnings ratio of 32.10, a PEG ratio of 0.82 and a beta of 1.85. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.70. KKR & Co. Inc. has a 12-month low of $82.67 and a 12-month high of $153.87. The company’s fifty day simple moving average is $95.46 and its 200 day simple moving average is $110.25.
KKR & Co. Inc. (NYSE:KKR – Get Free Report) last released its earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share (EPS) for the quarter. The business had revenue of $5.74 billion for the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. On average, analysts expect that KKR & Co. Inc. will post 5.46 earnings per share for the current year.
KKR & Co. Inc. Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be issued a $0.195 dividend. The ex-dividend date is Friday, May 15th. This is a positive change from KKR & Co. Inc.’s previous quarterly dividend of $0.19. This represents a $0.78 annualized dividend and a yield of 0.8%. KKR & Co. Inc.’s dividend payout ratio (DPR) is presently 26.53%.
KKR & Co. Inc. declared that its board has initiated a stock repurchase 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 stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
Insider Transactions at KKR & Co. Inc.
In other news, Director Timothy R. Barakett bought 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were acquired at an average price of $94.47 per share, for a total transaction of $4,723,500.00. Following the completion of the acquisition, the director directly owned 285,000 shares in the company, valued at approximately $26,923,950. This represents a 21.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 23.20% of the stock is currently owned by insiders.
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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