Elevation Point Wealth Partners LLC bought a new stake in shares of KKR & Co. Inc. (NYSE:KKR – Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 8,077 shares of the asset manager’s stock, valued at approximately $741,000.
Other hedge funds have also recently bought and sold shares of the company. Washington Trust Advisors Inc. acquired a new position in KKR & Co. Inc. in the 4th quarter valued at approximately $27,000. Elyxium Wealth LLC bought a new stake in shares of KKR & Co. Inc. during the fourth quarter valued at approximately $27,000. SouthState Bank Corp increased its position in shares of KKR & Co. Inc. by 185.0% during the fourth quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 148 shares during the period. Garton & Associates Financial Advisors LLC acquired a new position in shares of KKR & Co. Inc. in the fourth quarter valued at $29,000. Finally, MV Capital Management Inc. bought a new position in KKR & Co. Inc. in the fourth quarter worth $31,000. 76.26% of the stock is owned by institutional investors.
KKR & Co. Inc. Price Performance
KKR & Co. Inc. stock opened at $107.29 on Tuesday. 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 firm has a market cap of $96.31 billion, a P/E ratio of 34.17, a P/E/G ratio of 0.92 and a beta of 1.78. The business’s fifty day moving average is $100.27 and its two-hundred day moving average is $97.53. KKR & Co. Inc. has a 52 week low of $82.67 and a 52 week high of $152.10.
KKR & Co. Inc. Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Monday, August 10th will be paid 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 24.84%.
KKR & Co. Inc. declared that its board has initiated 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 purchase up to 0.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.
Analyst Ratings Changes
A number of equities research analysts have weighed in on KKR shares. Keefe, Bruyette & Woods upgraded shares of KKR & Co. Inc. to a “moderate buy” rating in a research note on Monday, July 20th. Zacks Research upgraded shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. Weiss Ratings upgraded shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, June 16th. UBS Group upped their price objective on KKR & Co. Inc. from $113.00 to $126.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Oppenheimer dropped their target price on KKR & Co. Inc. from $143.00 to $139.00 and set an “outperform” rating for the company in a report on Friday, July 17th. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $127.75.
Check Out 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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