Rakuten Investment Management Inc. Has $11.34 Million Stock Position in KKR & Co. Inc. $KKR

Rakuten Investment Management Inc. lowered its position in shares of KKR & Co. Inc. (NYSE:KKR) by 73.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 87,633 shares of the asset manager’s stock after selling 238,030 shares during the period. Rakuten Investment Management Inc.’s holdings in KKR & Co. Inc. were worth $11,341,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of KKR. Asset Dedication LLC acquired a new stake in shares of KKR & Co. Inc. during the third quarter worth $26,000. GGM Financials LLC acquired a new stake in shares of KKR & Co. Inc. during the third quarter worth $27,000. Washington Trust Advisors Inc. acquired a new stake in shares of KKR & Co. Inc. during the fourth quarter worth $27,000. Elyxium Wealth LLC bought a new position in KKR & Co. Inc. during the 4th quarter worth $27,000. Finally, SouthState Bank Corp raised its holdings in KKR & Co. Inc. by 185.0% in the 4th quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 148 shares in the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

KKR & Co. Inc. Price Performance

Shares of NYSE KKR opened at $98.81 on Wednesday. The stock has a market capitalization of $88.72 billion, a PE ratio of 33.61, a P/E/G ratio of 0.85 and a beta of 1.79. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.08 and a quick ratio of 0.08. The business has a fifty day moving average price of $97.55 and a two-hundred day moving average price of $107.06. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $153.87.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings data on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%.The firm had revenue of $5.74 billion during the quarter. As a group, equities analysts predict that KKR & Co. Inc. will post 5.51 earnings per share for the current fiscal year.

KKR & Co. Inc. declared that its board has approved a share repurchase program on Tuesday, May 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the asset manager to buy up to 0.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

KKR & Co. Inc. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were issued a dividend of $0.195 per share. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.8%. KKR & Co. Inc.’s payout ratio is presently 26.53%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on KKR. Royal Bank Of Canada dropped 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, May 6th. Oppenheimer dropped their price objective on KKR & Co. Inc. from $187.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, April 13th. TD Cowen dropped their price objective on KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating for the company in a report on Monday, May 18th. Zacks Research raised KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. Finally, Piper Sandler dropped their price objective on KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, KKR & Co. Inc. presently has a consensus rating of “Moderate Buy” and an average price target of $134.53.

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.