Interval Partners LP Increases Stock Holdings in KKR & Co. Inc. $KKR

Interval Partners LP lifted its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 144.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 110,667 shares of the asset manager’s stock after buying an additional 65,400 shares during the quarter. Interval Partners LP’s holdings in KKR & Co. Inc. were worth $14,108,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in KKR & Co. Inc. by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 60,064,587 shares of the asset manager’s stock valued at $7,657,034,000 after purchasing an additional 821,739 shares in the last quarter. Geode Capital Management LLC grew its position in shares of KKR & Co. Inc. by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 14,995,742 shares of the asset manager’s stock worth $1,903,220,000 after acquiring an additional 146,285 shares in the last quarter. Norges Bank acquired a new position in shares of KKR & Co. Inc. in the 4th quarter worth approximately $1,715,929,000. First Manhattan CO. LLC. grew its position in shares of KKR & Co. Inc. by 0.8% in the 4th quarter. First Manhattan CO. LLC. now owns 8,597,044 shares of the asset manager’s stock worth $1,095,951,000 after acquiring an additional 67,441 shares in the last quarter. Finally, Capital Research Global Investors grew its position in shares of KKR & Co. Inc. by 0.4% in the 4th quarter. Capital Research Global Investors now owns 5,602,262 shares of the asset manager’s stock worth $714,195,000 after acquiring an additional 23,483 shares in the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

KKR & Co. Inc. Trading Down 1.8%

Shares of NYSE KKR opened at $97.17 on Thursday. The company has a market cap of $87.24 billion, a price-to-earnings ratio of 33.05, a price-to-earnings-growth ratio of 0.86 and a beta of 1.79. KKR & Co. Inc. has a 12-month low of $82.67 and a 12-month high of $153.87. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.70. The stock’s 50 day simple moving average is $97.67 and its 200 day simple moving average is $106.89.

KKR & Co. Inc. (NYSE:KKR) last announced its earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. The firm 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%. Equities research analysts expect that KKR & Co. Inc. will post 5.51 EPS for the current year.

KKR & Co. Inc. Increases Dividend

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

KKR & Co. Inc. announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 5th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the asset manager to buy up to 0.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

KKR has been the subject of several research reports. Piper Sandler decreased their target price on KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. TD Cowen cut their price target on KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating on the stock in a report on Monday, May 18th. BMO Capital Markets cut their price target on KKR & Co. Inc. from $125.00 to $106.00 and set an “outperform” rating on the stock in a report on Tuesday, March 24th. UBS Group raised their price target on KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada cut their price target on KKR & Co. Inc. from $132.00 to $128.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, 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.