Bokf Na lessened its stake in shares of KKR & Co. Inc. (NYSE:KKR – Free Report) by 35.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 13,956 shares of the asset manager’s stock after selling 7,710 shares during the quarter. Bokf Na’s holdings in KKR & Co. Inc. were worth $1,779,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the company. ESL Trust Services LLC acquired a new stake in KKR & Co. Inc. during the 3rd quarter worth about $26,000. Asset Dedication LLC acquired a new position in shares of KKR & Co. Inc. in the 3rd quarter valued at about $26,000. GGM Financials LLC purchased a new stake in shares of KKR & Co. Inc. in the third quarter worth approximately $27,000. Richardson Financial Services Inc. lifted its position in shares of KKR & Co. Inc. by 2,150.0% in the third quarter. Richardson Financial Services Inc. now owns 225 shares of the asset manager’s stock worth $29,000 after purchasing an additional 215 shares in the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of KKR & Co. Inc. during the third quarter worth approximately $33,000. 76.26% of the stock is owned by hedge funds and other institutional investors.
KKR & Co. Inc. Price Performance
Shares of KKR stock opened at $102.48 on Friday. The firm has a market cap of $91.36 billion, a price-to-earnings ratio of 34.86, a P/E/G ratio of 0.90 and a beta of 1.85. The stock’s fifty day simple moving average is $94.49 and its 200 day simple moving average is $111.73. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.07 and a quick ratio of 0.07. KKR & Co. Inc. has a one year low of $82.67 and a one year high of $153.87.
KKR & Co. Inc. Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be paid a dividend of $0.195 per share. The ex-dividend date is Friday, May 15th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.8%. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.19. KKR & Co. Inc.’s dividend payout ratio (DPR) is currently 25.17%.
KKR & Co. Inc. declared that its Board of Directors has authorized a stock buyback plan on Tuesday, May 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the asset manager to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the stock. Oppenheimer lowered their price objective on shares of KKR & Co. Inc. from $187.00 to $140.00 and set an “outperform” rating on the stock in a research report on Monday, April 13th. The Goldman Sachs Group decreased their target price on shares of KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. Morgan Stanley lowered their price target on shares of KKR & Co. Inc. from $177.00 to $153.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. TD Cowen upped their price target on shares of KKR & Co. Inc. from $102.00 to $106.00 and gave the stock a “hold” rating in a research note on Wednesday. Finally, Royal Bank Of Canada cut their price objective on KKR & Co. Inc. from $132.00 to $128.00 and set an “outperform” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $134.67.
Read Our Latest Stock Report on KKR & Co. Inc.
Key Stories Impacting KKR & Co. Inc.
Here are the key news stories impacting KKR & Co. Inc. this week:
- Positive Sentiment: UBS said KKR could see strong upside, and TD Cowen lifted its price target to $106, reinforcing a constructive analyst view on the stock. UBS Group Forecasts Strong Price Appreciation for KKR & Co. Inc. (NYSE:KKR) Stock
- Positive Sentiment: KKR closed its Arctos acquisition, expanding into sports franchise investing and GP solutions, which broadens its private-markets platform and could support longer-term growth. KKR Adds Sports Franchise Exposure Through Arctos Buyout
- Positive Sentiment: KKR-backed InCred filed IPO papers in India targeting a large valuation, which may highlight value creation within KKR’s portfolio. KKR-Backed InCred Files ?3,000 Crore IPO Papers, Targets ?15,000 Crore Valuation
- Positive Sentiment: KKR portfolio company CoolIT was sold for $4.75 billion, and employee payouts are reportedly substantial, another sign that KKR can monetize investments well. This KKR Portfolio Company Just Sold for $4.75 Billion—and Its Employees Are Getting an 8x Salary Bonus
- Neutral Sentiment: Unusual options activity showed elevated put buying, suggesting some traders are hedging or betting on near-term downside, but it does not confirm a fundamental change. KKR, Instructure Sued After Canvas EdTech Tool Data Breach (1)
- Neutral Sentiment: RBC turned more cautious on KKR’s stock price, adding to the mixed analyst backdrop, though it is offset by the bullish views elsewhere. Royal Bank Of Canada Issues Pessimistic Forecast for KKR & Co. Inc. (NYSE:KKR) Stock Price
- Negative Sentiment: KKR and Instructure were sued over a data breach tied to the Canvas edtech tool, creating potential legal and reputational risk for KKR. KKR, Instructure Sued After Canvas EdTech Tool Data Breach (1)
- Negative Sentiment: KKR’s Q1 results beat estimates, but shares fell after management reduced visibility on reaching $7 per share in annualized net income, which spooked investors about near-term earnings momentum. KKR Shares Slip as Weak ANI Outlook Overshadows Q1 Earnings Beat
Insiders Place Their Bets
In other KKR & Co. Inc. news, CEO Scott C. Nuttall purchased 125,000 shares of the stock in a transaction on Tuesday, February 17th. The shares were purchased at an average price of $102.66 per share, with a total value of $12,832,500.00. Following the completion of the transaction, the chief executive officer directly owned 15,503,748 shares in the company, valued at $1,591,614,769.68. This represents a 0.81% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph Y. Bae acquired 125,000 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was acquired at an average price of $102.19 per share, for a total transaction of $12,773,750.00. Following the purchase, the chief executive officer directly owned 509,257 shares of the company’s stock, valued at approximately $52,040,972.83. This trade represents a 32.53% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have acquired 393,872 shares of company stock worth $40,090,679. Company insiders own 23.20% of the company’s stock.
KKR & Co. Inc. 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.
See Also
Want to see what other hedge funds are holding KKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KKR & Co. Inc. (NYSE:KKR – Free Report).
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