Teachers Retirement System of The State of Kentucky Sells 10,414 Shares of KKR & Co. Inc. $KKR

Teachers Retirement System of The State of Kentucky reduced its holdings in KKR & Co. Inc. (NYSE:KKR) by 8.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 109,055 shares of the asset manager’s stock after selling 10,414 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in KKR & Co. Inc. were worth $10,088,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KKR. SteelPeak Wealth LLC raised its position in shares of KKR & Co. Inc. by 3.2% during the 4th quarter. SteelPeak Wealth LLC now owns 2,549 shares of the asset manager’s stock valued at $325,000 after acquiring an additional 80 shares during the last quarter. Diversified Trust Co. boosted its position in shares of KKR & Co. Inc. by 1.5% in the 4th quarter. Diversified Trust Co. now owns 5,562 shares of the asset manager’s stock worth $709,000 after purchasing an additional 82 shares during the last quarter. Modera Wealth Management LLC grew its stake in shares of KKR & Co. Inc. by 4.9% during the fourth quarter. Modera Wealth Management LLC now owns 1,789 shares of the asset manager’s stock worth $228,000 after purchasing an additional 84 shares during the period. Sound Income Strategies LLC grew its stake in shares of KKR & Co. Inc. by 9.1% during the fourth quarter. Sound Income Strategies LLC now owns 1,084 shares of the asset manager’s stock worth $143,000 after purchasing an additional 90 shares during the period. Finally, Praxis Investment Management Inc. increased its holdings in KKR & Co. Inc. by 0.9% in the fourth quarter. Praxis Investment Management Inc. now owns 10,006 shares of the asset manager’s stock valued at $1,276,000 after purchasing an additional 94 shares during the last quarter. 76.26% of the stock is owned by institutional investors.

KKR & Co. Inc. Stock Performance

Shares of KKR & Co. Inc. stock opened at $97.08 on Tuesday. The company has a market capitalization of $87.17 billion, a PE ratio of 33.02, a PEG ratio of 0.82 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 fifty day simple moving average is $95.54 and its 200 day simple moving average is $102.18.

KKR & Co. Inc. (NYSE:KKR) last posted its earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share (EPS) 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. On average, research analysts predict that KKR & Co. Inc. will post 5.55 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The firm also recently disclosed 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 a boost from KKR & Co. Inc.’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, May 15th. This represents a $0.78 annualized dividend and a dividend yield of 0.8%. KKR & Co. Inc.’s dividend payout ratio (DPR) is presently 26.53%.

KKR & Co. Inc. announced that its Board of Directors has approved a stock repurchase program on Tuesday, May 5th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the asset manager to repurchase up to 0.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have weighed in on KKR. TD Cowen cut their target price on KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating on the stock in a research note on Monday, May 18th. Morgan Stanley decreased their target price on KKR & Co. Inc. from $177.00 to $153.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. Piper Sandler lowered their price target on KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating for the company in a research note on Tuesday, April 7th. BMO Capital Markets cut their price target on shares of KKR & Co. Inc. from $120.00 to $112.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, UBS Group lifted their price objective on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, KKR & Co. Inc. has a consensus rating of “Moderate Buy” and an average price target of $130.58.

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.