Greenhaven Road Investment Management L.P. Sells 29,600 Shares of KKR & Co. Inc. $KKR

Greenhaven Road Investment Management L.P. lessened its holdings in shares of KKR & Co. Inc. (NYSE:KKR) by 13.5% during the fourth quarter, HoldingsChannel reports. The fund owned 190,100 shares of the asset manager’s stock after selling 29,600 shares during the period. KKR & Co. Inc. comprises approximately 4.1% of Greenhaven Road Investment Management L.P.’s investment portfolio, making the stock its 6th biggest holding. Greenhaven Road Investment Management L.P.’s holdings in KKR & Co. Inc. were worth $24,234,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KKR. Asset Dedication LLC acquired a new position in KKR & Co. Inc. during the third quarter worth $26,000. GGM Financials LLC acquired a new position in KKR & Co. Inc. during the third quarter worth $27,000. Washington Trust Advisors Inc. acquired a new position in KKR & Co. Inc. during the fourth quarter worth $27,000. Elyxium Wealth LLC acquired a new position in KKR & Co. Inc. during the fourth quarter worth $27,000. Finally, SouthState Bank Corp grew its holdings in KKR & Co. Inc. by 185.0% during the fourth quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock worth $29,000 after acquiring an additional 148 shares during the period. Institutional investors and hedge funds own 76.26% of the company’s stock.

KKR & Co. Inc. Stock Up 1.1%

KKR opened at $96.37 on Friday. The business’s fifty day moving average is $97.27 and its two-hundred day moving average is $107.45. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.08 and a current ratio of 0.08. The company has a market cap of $86.52 billion, a price-to-earnings ratio of 32.78, a PEG ratio of 0.82 and a beta of 1.79. KKR & Co. Inc. has a one year low of $82.67 and a one year high of $153.87.

KKR & Co. Inc. (NYSE:KKR) last posted its earnings results on Friday, February 27th. The asset manager reported $1.24 EPS for the quarter. The company had revenue of $5.74 billion for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%. Analysts anticipate that KKR & Co. Inc. will post 5.51 EPS for the current fiscal year.

KKR & Co. Inc. announced that its Board of Directors has initiated a stock buyback 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 repurchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

KKR & Co. Inc. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a dividend of $0.195 per share. The ex-dividend date was Friday, May 15th. This is a positive change from KKR & Co. Inc.’s previous quarterly dividend of $0.19. This represents a $0.78 dividend on an annualized basis and a yield of 0.8%. KKR & Co. Inc.’s dividend payout ratio (DPR) is presently 26.53%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on KKR. UBS Group upped their price objective on KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Zacks Research raised KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. Weiss Ratings downgraded KKR & Co. Inc. from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, May 21st. Barclays decreased their target price on KKR & Co. Inc. from $127.00 to $122.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. Finally, TD Cowen decreased their target price on KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating on the stock in a research report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $134.53.

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.