River Road Asset Management LLC trimmed its holdings in KKR & Co. Inc. (NYSE:KKR – Free Report) by 19.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 375,494 shares of the asset manager’s stock after selling 91,207 shares during the period. River Road Asset Management LLC’s holdings in KKR & Co. Inc. were worth $47,868,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Asset Dedication LLC bought a new stake in shares of KKR & Co. Inc. during the 3rd quarter valued at $26,000. GGM Financials LLC bought a new position in KKR & Co. Inc. in the 3rd quarter worth about $27,000. Washington Trust Advisors Inc. bought a new position in KKR & Co. Inc. in the 4th quarter worth about $27,000. Elyxium Wealth LLC purchased a new position in KKR & Co. Inc. during the 4th quarter valued at about $27,000. Finally, SouthState Bank Corp grew its holdings in KKR & Co. Inc. by 185.0% during the 4th quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock valued at $29,000 after buying an additional 148 shares in the last quarter. Institutional investors own 76.26% of the company’s stock.
KKR & Co. Inc. Price Performance
Shares of NYSE KKR opened at $97.01 on Friday. The firm has a market capitalization of $87.10 billion, a P/E ratio of 33.00, a P/E/G ratio of 0.84 and a beta of 1.79. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.70. The stock’s 50-day simple moving average is $97.80 and its two-hundred day simple moving average is $106.72. KKR & Co. Inc. has a twelve month low of $82.67 and a twelve month high of $153.87.
KKR & Co. Inc. announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the asset manager to repurchase up to 0.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.
KKR & Co. Inc. Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a $0.195 dividend. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.18. This represents a $0.78 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, May 15th. KKR & Co. Inc.’s payout ratio is 26.53%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the stock. Piper Sandler lowered their price target on shares of KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. Morgan Stanley cut their price objective on shares of KKR & Co. Inc. from $177.00 to $153.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. Weiss Ratings raised shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday. TD Cowen decreased their target price on shares of KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating on the stock in a report on Monday, May 18th. Finally, Royal Bank Of Canada lowered their target price on shares of KKR & Co. Inc. from $132.00 to $128.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $134.53.
Check Out Our Latest Stock Report on KKR & Co. Inc.
KKR & Co. Inc. Company 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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