Sapient Capital LLC trimmed its position in KKR & Co. Inc. (NYSE:KKR – Free Report) by 94.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 9,064 shares of the asset manager’s stock after selling 146,023 shares during the quarter. Sapient Capital LLC’s holdings in KKR & Co. Inc. were worth $832,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in KKR & Co. Inc. by 1.4% in the 4th 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 during the period. Principal Financial Group Inc. lifted its stake in KKR & Co. Inc. by 6.9% during the 1st 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 lifted its stake in KKR & Co. Inc. by 1.0% during the 4th 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 acquired a new stake in KKR & Co. Inc. during the 4th quarter valued at approximately $1,715,929,000. Finally, First Manhattan CO. LLC. boosted its holdings in shares of KKR & Co. Inc. by 0.8% in the 4th 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 during the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the stock. UBS Group increased their price objective on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Weiss Ratings raised shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, June 16th. Oppenheimer cut their price target on 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. Morgan Stanley decreased their price objective on KKR & Co. Inc. from $153.00 to $147.00 and set an “overweight” rating for the company in a report on Tuesday, July 21st. Finally, BMO Capital Markets upped their target price 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. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, KKR & Co. Inc. has an average rating of “Moderate Buy” and an average target price of $127.75.
KKR & Co. Inc. Price Performance
Shares of KKR & Co. Inc. stock opened at $103.65 on Tuesday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.71. KKR & Co. Inc. has a twelve month low of $82.67 and a twelve month high of $152.10. The business has a 50-day moving average price of $97.21 and a 200 day moving average price of $98.00. The firm has a market cap of $93.04 billion, a PE ratio of 33.01, a P/E/G ratio of 0.88 and a beta of 1.78.
KKR & Co. Inc. (NYSE:KKR – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The asset manager reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.20. The company had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $2.55 billion. KKR & Co. Inc. had a return on equity of 5.88% and a net margin of 14.41%.During the same quarter in the prior year, the business posted $1.18 earnings per share. Sell-side analysts predict that KKR & Co. Inc. will post 5.68 earnings per share for the current fiscal year.
KKR & Co. Inc. announced that its board has initiated a share repurchase plan on Tuesday, May 5th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to buy up to 0.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
KKR & Co. Inc. Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Monday, August 10th will be paid a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, August 10th. KKR & Co. Inc.’s dividend payout ratio is presently 24.84%.
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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