Virtus Investment Advisers LLC Takes Position in KKR & Co. Inc. $KKR

Virtus Investment Advisers LLC purchased a new position in shares of KKR & Co. Inc. (NYSE:KKR) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 12,195 shares of the asset manager’s stock, valued at approximately $1,622,000.

Several other hedge funds have also recently added to or reduced their stakes in KKR. Norges Bank purchased a new stake in shares of KKR & Co. Inc. during the second quarter worth $1,530,419,000. Scotia Capital Inc. raised its holdings in KKR & Co. Inc. by 1,471.6% in the 2nd quarter. Scotia Capital Inc. now owns 94,655 shares of the asset manager’s stock valued at $12,592,000 after acquiring an additional 88,632 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of KKR & Co. Inc. by 14.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 59,621 shares of the asset manager’s stock worth $7,931,000 after purchasing an additional 7,313 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of KKR & Co. Inc. by 1.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 642,755 shares of the asset manager’s stock valued at $85,506,000 after purchasing an additional 8,820 shares in the last quarter. Finally, Korea Investment CORP increased its holdings in shares of KKR & Co. Inc. by 78.4% in the second quarter. Korea Investment CORP now owns 848,466 shares of the asset manager’s stock valued at $112,871,000 after purchasing an additional 372,914 shares during the last quarter. 76.26% of the stock is owned by institutional investors and hedge funds.

KKR & Co. Inc. Stock Performance

NYSE:KKR opened at $121.11 on Friday. KKR & Co. Inc. has a fifty-two week low of $86.15 and a fifty-two week high of $170.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.08 and a current ratio of 0.08. The company has a 50 day moving average price of $123.72 and a 200 day moving average price of $131.18. The stock has a market capitalization of $107.95 billion, a P/E ratio of 56.33, a PEG ratio of 1.33 and a beta of 1.92.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings results on Friday, November 7th. The asset manager reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. KKR & Co. Inc. had a return on equity of 6.30% and a net margin of 12.95%.The company had revenue of $4.36 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the prior year, the firm earned $1.38 earnings per share. Equities research analysts forecast that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Investors of record on Monday, November 17th will be paid a dividend of $0.185 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $0.74 annualized dividend and a yield of 0.6%. KKR & Co. Inc.’s dividend payout ratio is presently 31.36%.

Analyst Ratings Changes

KKR has been the topic of a number of recent research reports. BMO Capital Markets initiated coverage on KKR & Co. Inc. in a research note on Friday, October 3rd. They set an “outperform” rating and a $148.00 price objective on the stock. TD Cowen lowered their price target on shares of KKR & Co. Inc. from $153.00 to $146.00 and set a “buy” rating on the stock in a research report on Monday, November 10th. Barclays lifted their target price on shares of KKR & Co. Inc. from $151.00 to $154.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 11th. Citigroup decreased their price objective on KKR & Co. Inc. from $170.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Finally, Weiss Ratings raised KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Saturday, October 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $156.31.

KKR & Co. Inc. Profile

KKR & Co, Inc operates as an investment firm. It offers alternative asset management as well as capital markets and insurance solutions. The firm’s business segments include Asset Management and Insurance Business. The Asset Management segment engages in providing private equity, real assets, credit and liquid strategies, capital markets, and principal activities.