Navalign LLC acquired a new position in KKR & Co. Inc. (NYSE:KKR – Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,443 shares of the asset manager’s stock, valued at approximately $966,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SteelPeak Wealth LLC grew its holdings in shares of KKR & Co. Inc. by 3.2% during the 4th quarter. SteelPeak Wealth LLC now owns 2,549 shares of the asset manager’s stock worth $325,000 after purchasing an additional 80 shares during the period. Diversified Trust Co. raised its holdings in KKR & Co. Inc. by 1.5% in the 4th quarter. Diversified Trust Co. now owns 5,562 shares of the asset manager’s stock valued at $709,000 after buying an additional 82 shares during the period. Modera Wealth Management LLC raised its holdings in KKR & Co. Inc. by 4.9% in the 4th quarter. Modera Wealth Management LLC now owns 1,789 shares of the asset manager’s stock valued at $228,000 after buying an additional 84 shares during the period. Sound Income Strategies LLC lifted its position in KKR & Co. Inc. by 9.1% in the fourth quarter. Sound Income Strategies LLC now owns 1,084 shares of the asset manager’s stock valued at $143,000 after buying an additional 90 shares during the last quarter. Finally, Praxis Investment Management Inc. lifted its position in KKR & Co. Inc. by 0.9% in the fourth quarter. Praxis Investment Management Inc. now owns 10,006 shares of the asset manager’s stock valued at $1,276,000 after buying an additional 94 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.
KKR & Co. Inc. Stock Down 0.9%
Shares of NYSE:KKR opened at $95.11 on Wednesday. The firm has a market capitalization of $85.40 billion, a PE ratio of 32.35, a price-to-earnings-growth ratio of 0.83 and a beta of 1.79. KKR & Co. Inc. has a 1 year low of $82.67 and a 1 year high of $153.87. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.08 and a quick ratio of 0.08. The firm’s 50-day moving average is $95.99 and its two-hundred day moving average is $103.18.
KKR & Co. Inc. declared that its board has approved a stock buyback program 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 shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
KKR & Co. Inc. Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were paid a $0.195 dividend. The ex-dividend date was Friday, May 15th. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.18. This represents a $0.78 annualized dividend and a dividend yield of 0.8%. KKR & Co. Inc.’s payout ratio is 26.53%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on KKR shares. Morgan Stanley dropped their price target 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 upgraded shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, June 16th. Barclays lowered their price objective on shares of KKR & Co. Inc. from $127.00 to $122.00 and set an “overweight” rating for the company in a research report on Wednesday, May 6th. Oppenheimer dropped their target price on shares of KKR & Co. Inc. from $187.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, April 13th. Finally, 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 report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $134.53.
Read Our Latest Report on KKR & Co. Inc.
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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