Next Capital Management LLC Has $4.42 Million Stake in KKR & Co. Inc. $KKR

Next Capital Management LLC lifted its stake in KKR & Co. Inc. (NYSE:KKR) by 135.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,771 shares of the asset manager’s stock after purchasing an additional 27,498 shares during the quarter. KKR & Co. Inc. accounts for 1.3% of Next Capital Management LLC’s portfolio, making the stock its 19th largest position. Next Capital Management LLC’s holdings in KKR & Co. Inc. were worth $4,419,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Washington Trust Advisors Inc. purchased a new position in KKR & Co. Inc. during the fourth quarter valued at approximately $27,000. Elyxium Wealth LLC purchased a new stake in KKR & Co. Inc. in the 4th quarter worth approximately $27,000. SouthState Bank Corp grew its holdings in shares of KKR & Co. Inc. by 185.0% during 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. Garton & Associates Financial Advisors LLC purchased a new position in shares of KKR & Co. Inc. during the 4th quarter valued at $29,000. Finally, MV Capital Management Inc. acquired a new position in shares of KKR & Co. Inc. in the fourth quarter worth $31,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.

KKR & Co. Inc. Stock Performance

Shares of KKR opened at $100.94 on Friday. The company’s fifty day moving average is $95.46 and its 200-day moving average is $101.54. KKR & Co. Inc. has a 12 month low of $82.67 and a 12 month high of $153.87. The firm has a market cap of $90.63 billion, a price-to-earnings ratio of 34.33, a price-to-earnings-growth ratio of 0.84 and a beta of 1.79. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.70.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. The business had revenue of $5.74 billion for the quarter. Equities analysts expect that KKR & Co. Inc. will post 5.58 EPS for the current fiscal year.

KKR & Co. Inc. declared that its Board of Directors has approved a share buyback plan on Tuesday, May 5th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the asset manager to buy up to 0.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

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 given a dividend of $0.195 per share. The ex-dividend date of this dividend was Friday, May 15th. This is a positive change from KKR & Co. Inc.’s previous quarterly dividend of $0.18. This represents a $0.78 annualized dividend and a yield of 0.8%. KKR & Co. Inc.’s dividend payout ratio (DPR) is currently 26.53%.

Insiders Place Their Bets

In other KKR & Co. Inc. news, EVP Yael Cosset sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, July 14th. The stock was sold at an average price of $58.80, for a total transaction of $1,764,000.00. Following the transaction, the executive vice president directly owned 127,868 shares in the company, valued at $7,518,638.40. This trade represents a 19.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 23.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. BMO Capital Markets cut their price objective on KKR & Co. Inc. from $120.00 to $112.00 and set an “outperform” rating for the company in a report on Monday, July 13th. Piper Sandler lowered their target price on KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. The Goldman Sachs Group dropped their target price on KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Morgan Stanley cut their price target on KKR & Co. Inc. from $177.00 to $153.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. Finally, TD Cowen reduced their price target 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. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $130.50.

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.