Sumitomo Life Insurance Co. acquired a new position in shares of KKR & Co. Inc. (NYSE:KKR – Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 25,600 shares of the asset manager’s stock, valued at approximately $2,350,000.
A number of other hedge funds have also modified their holdings of the company. Landscape Capital Management L.L.C. acquired a new stake in KKR & Co. Inc. in the 2nd quarter valued at approximately $1,834,000. Korea Investment CORP acquired a new position in KKR & Co. Inc. during the 2nd quarter worth approximately $20,645,000. EP Wealth Advisors LLC acquired a new position in KKR & Co. Inc. during the 2nd quarter worth approximately $7,358,000. Ieq Capital LLC bought a new position in shares of KKR & Co. Inc. during the 2nd quarter worth approximately $13,033,000. Finally, Heron Bay Capital Management bought a new position in shares of KKR & Co. Inc. during the 2nd quarter worth approximately $35,124,000. 76.26% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of KKR & Co. Inc. from $124.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Royal Bank Of Canada lifted their target price on KKR & Co. Inc. from $125.00 to $134.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. HSBC upped their target price on KKR & Co. Inc. from $118.00 to $121.00 and gave the stock a “buy” rating in a report on Monday, July 20th. BMO Capital Markets increased their price target on KKR & Co. Inc. from $112.00 to $118.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Finally, Oppenheimer decreased their price target on KKR & Co. Inc. from $143.00 to $139.00 and set an “outperform” rating for the company in a research note on Friday, July 17th. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $127.75.
KKR & Co. Inc. Trading Up 1.5%
KKR & Co. Inc. stock opened at $108.59 on Friday. KKR & Co. Inc. has a 52 week low of $82.67 and a 52 week high of $152.10. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.09 and a current ratio of 0.09. The stock has a market capitalization of $97.47 billion, a P/E ratio of 34.58, a PEG ratio of 0.91 and a beta of 1.78. The stock has a 50-day simple moving average of $100.09 and a 200 day simple moving average of $97.62.
KKR & Co. Inc. (NYSE:KKR – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The asset manager reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.20. The firm 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 previous year, the business earned $1.18 earnings per share. Analysts expect that KKR & Co. Inc. will post 5.68 earnings per share for the current year.
KKR & Co. Inc. announced that its board has authorized a share repurchase plan on Tuesday, May 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the asset manager to buy up to 0.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management 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. Investors of record on Monday, August 10th will be issued a dividend of $0.195 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.7%. KKR & Co. Inc.’s payout ratio is presently 24.84%.
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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