Independent Financial Group LLC acquired a new position in shares of KKR & Co. Inc. (NYSE:KKR – Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 9,194 shares of the asset manager’s stock, valued at approximately $850,000.
Several other institutional investors have also added to or reduced their stakes in the stock. MASTERINVEST Kapitalanlage GmbH lifted its holdings in shares of KKR & Co. Inc. by 107.9% in the first quarter. MASTERINVEST Kapitalanlage GmbH now owns 4,928 shares of the asset manager’s stock valued at $456,000 after purchasing an additional 2,558 shares in the last quarter. Sterling Investment Advisors Ltd. grew its holdings in shares of KKR & Co. Inc. by 10.6% during the first quarter. Sterling Investment Advisors Ltd. now owns 62,492 shares of the asset manager’s stock worth $5,781,000 after buying an additional 5,986 shares in the last quarter. Sigma Planning Corp raised its position in KKR & Co. Inc. by 23.0% in the 1st quarter. Sigma Planning Corp now owns 5,343 shares of the asset manager’s stock valued at $494,000 after buying an additional 998 shares during the last quarter. Checchi Capital Advisers LLC lifted its stake in KKR & Co. Inc. by 5.0% in the 1st quarter. Checchi Capital Advisers LLC now owns 19,744 shares of the asset manager’s stock valued at $1,826,000 after acquiring an additional 932 shares in the last quarter. Finally, Avantax Planning Partners Inc. lifted its stake in KKR & Co. Inc. by 35.0% in the 1st quarter. Avantax Planning Partners Inc. now owns 2,700 shares of the asset manager’s stock valued at $250,000 after acquiring an additional 700 shares in the last quarter. 76.26% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the company. Royal Bank Of Canada reduced their price target on KKR & Co. Inc. from $128.00 to $125.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. TD Cowen cut their price objective on shares of KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating on the stock in a research report on Monday, May 18th. Barclays boosted their price objective on shares of KKR & Co. Inc. from $122.00 to $124.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. 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. Finally, Oppenheimer decreased their target price on shares of KKR & Co. Inc. from $143.00 to $139.00 and set an “outperform” rating for the company in a research report on Friday, July 17th. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, KKR & Co. Inc. presently has a consensus rating of “Moderate Buy” and an average target price of $128.08.
Insiders Place Their Bets
In related news, EVP Yael Cosset sold 30,000 shares of the business’s stock in a transaction on Tuesday, July 14th. The shares were sold at an average price of $58.80, for a total transaction of $1,764,000.00. Following the transaction, the executive vice president directly owned 127,868 shares in the company, valued at approximately $7,518,638.40. The trade was a 19.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 23.20% of the company’s stock.
KKR & Co. Inc. Stock Performance
Shares of NYSE KKR opened at $97.04 on Wednesday. The stock has a 50 day moving average price of $95.37 and a 200 day moving average price of $100.90. KKR & Co. Inc. has a 52 week low of $82.67 and a 52 week high of $153.87. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.08 and a current ratio of 0.08. The stock has a market capitalization of $87.13 billion, a PE ratio of 33.01, a price-to-earnings-growth ratio of 0.82 and a beta of 1.79.
KKR & Co. Inc. (NYSE:KKR – Get Free Report) last posted its quarterly earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%.The firm had revenue of $5.74 billion for the quarter. Analysts predict that KKR & Co. Inc. will post 5.54 earnings per share for the current fiscal year.
KKR & Co. Inc. Increases Dividend
The company 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 a boost 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%. The ex-dividend date of this dividend was Friday, May 15th. KKR & Co. Inc.’s dividend payout ratio (DPR) is 26.53%.
KKR & Co. Inc. declared that its Board of Directors has approved a share repurchase plan on Tuesday, May 5th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the asset manager to buy up to 0.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors 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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