Principle Wealth Partners LLC Takes $462,000 Position in KKR & Co. Inc. $KKR

Principle Wealth Partners LLC acquired a new position in KKR & Co. Inc. (NYSE:KKR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 5,030 shares of the asset manager’s stock, valued at approximately $462,000.

Other large investors have also made changes to their positions in the company. Praxis Investment Management Inc. lifted its holdings in shares of KKR & Co. Inc. by 0.9% during the fourth quarter. Praxis Investment Management Inc. now owns 10,006 shares of the asset manager’s stock worth $1,276,000 after buying an additional 94 shares during the last quarter. Horizon Bancorp Inc. IN grew its stake in shares of KKR & Co. Inc. by 3.8% in the first quarter. Horizon Bancorp Inc. IN now owns 2,622 shares of the asset manager’s stock worth $243,000 after acquiring an additional 95 shares during the last quarter. Western Pacific Wealth Management LP grew its stake in shares of KKR & Co. Inc. by 34.8% in the first quarter. Western Pacific Wealth Management LP now owns 387 shares of the asset manager’s stock worth $36,000 after acquiring an additional 100 shares during the last quarter. Wernau Asset Management Inc. increased its position in KKR & Co. Inc. by 1.0% during the first quarter. Wernau Asset Management Inc. now owns 10,877 shares of the asset manager’s stock worth $1,006,000 after acquiring an additional 104 shares during the period. Finally, OLD National Bancorp IN increased its position in KKR & Co. Inc. by 1.6% during the fourth quarter. OLD National Bancorp IN now owns 6,711 shares of the asset manager’s stock worth $856,000 after acquiring an additional 106 shares during the period. Institutional investors and hedge funds own 76.26% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. TD Cowen increased their target price on shares of KKR & Co. Inc. from $108.00 to $111.00 and gave the company a “hold” rating in a research note on Monday, August 3rd. UBS Group boosted their price target on KKR & Co. Inc. from $113.00 to $126.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Oppenheimer cut their price target on KKR & Co. Inc. from $143.00 to $139.00 and set an “outperform” rating for the company in a report on Friday, July 17th. Royal Bank Of Canada lifted their price objective on KKR & Co. Inc. from $125.00 to $134.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Finally, Barclays boosted their price objective on KKR & Co. Inc. from $124.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $127.75.

KKR & Co. Inc. Trading Down 4.3%

KKR stock opened at $109.08 on Tuesday. KKR & Co. Inc. has a 1-year low of $82.67 and a 1-year high of $152.10. The firm has a market cap of $97.91 billion, a P/E ratio of 34.74, a P/E/G ratio of 0.97 and a beta of 1.78. The business’s 50 day moving average is $99.07 and its 200-day moving average is $97.70. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.71.

KKR & Co. Inc. (NYSE:KKR) last posted its earnings results on Thursday, July 30th. The asset manager reported $1.63 EPS for the quarter, topping the consensus estimate of $1.43 by $0.20. KKR & Co. Inc. had a return on equity of 5.88% and a net margin of 14.41%.The business had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter last year, the company earned $1.18 EPS. Equities analysts anticipate that KKR & Co. Inc. will post 5.68 earnings per share for the current fiscal year.

KKR & Co. Inc. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Monday, August 10th will be issued a $0.195 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.78 annualized dividend and a dividend yield of 0.7%. KKR & Co. Inc.’s dividend payout ratio is presently 24.84%.

KKR & Co. Inc. declared that its board has approved a share buyback plan on Tuesday, May 5th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the asset manager to purchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.