Perigon Wealth Management LLC Acquires Shares of 5,355 KKR & Co. Inc. $KKR

Perigon Wealth Management LLC acquired a new position in KKR & Co. Inc. (NYSE:KKR) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,355 shares of the asset manager’s stock, valued at approximately $491,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in KKR & Co. Inc. by 109.6% during the 4th quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager’s stock valued at $689,000 after buying an additional 2,437 shares during the period. Bison Wealth LLC acquired a new stake in KKR & Co. Inc. during the 4th quarter valued at $218,000. Sivia Capital Partners LLC lifted its stake in KKR & Co. Inc. by 13.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,050 shares of the asset manager’s stock worth $273,000 after acquiring an additional 237 shares in the last quarter. United Bank purchased a new stake in shares of KKR & Co. Inc. in the second quarter worth approximately $769,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in KKR & Co. Inc. in the 2nd quarter worth approximately $4,826,000. Institutional investors own 76.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on KKR. Royal Bank Of Canada raised their price target on KKR & Co. Inc. from $125.00 to $134.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Morgan Stanley decreased their price target on shares of KKR & Co. Inc. from $153.00 to $147.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 21st. UBS Group boosted their price objective on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Weiss Ratings upgraded shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, June 16th. Finally, Oppenheimer decreased their target price on KKR & Co. Inc. from $143.00 to $139.00 and set an “outperform” rating on the stock in a research report on Friday, July 17th. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned 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 $127.75.

KKR & Co. Inc. News Summary

Here are the key news stories impacting KKR & Co. Inc. this week:

• Positive Sentiment: Expansion into Indian live entertainment: KKR agreed to acquire a minority stake in BookMyShow, India’s leading ticketing and live-entertainment platform. The investment gives KKR exposure to growth in concerts and events, including major international tours, and could generate future management and performance fees. Financial terms were not disclosed. KKR Invests in Indian Ticketing and Live Entertainment Platform BookMyShow
• Positive Sentiment: Potential UGI acquisition: Reports say KKR has offered approximately $9 billion to acquire UGI Corp., a U.S. natural-gas and electricity distributor. A successful transaction would materially expand KKR’s infrastructure and energy portfolio, though the offer is unsolicited and remains subject to negotiations and potential regulatory review. KKR makes $9 billion takeover bid for UGI
• Positive Sentiment: Additional healthcare opportunity: KKR reportedly emerged as the preferred bidder for a minority stake in Malaysia’s Avisena Healthcare, potentially valuing the company at about $370 million. The deal would add to KKR’s exposure to private healthcare in Asia, although it has not been finalized. KKR leads bidding race for minority stake in Malaysia’s Avisena
• Neutral Sentiment: Commentary highlighted KKR’s long-term investment platform and an 85 GF Score, but these are opinions and do not represent new company fundamentals. Broader market support from easing inflation and reduced interest-rate concerns may also benefit alternative-asset managers.
• Negative Sentiment: First Philippine Holdings reportedly rejected KKR’s initial bid for a stake in First Gen, showing that competitive bidding and execution risks could limit KKR’s ability to deploy capital in attractive infrastructure assets. FPH spurns KKR’s First Gen bid

KKR & Co. Inc. Trading Up 2.9%

Shares of KKR & Co. Inc. stock opened at $110.32 on Thursday. KKR & Co. Inc. has a 52-week low of $82.67 and a 52-week high of $152.10. The firm has a market capitalization of $99.03 billion, a PE ratio of 35.13, a price-to-earnings-growth ratio of 0.92 and a beta of 1.78. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.09 and a quick ratio of 0.09. The company’s fifty day moving average price is $99.60 and its two-hundred day moving average price is $97.60.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings data on Thursday, July 30th. The asset manager reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.20. The company had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $2.55 billion. KKR & Co. Inc. had a net margin of 14.41% and a return on equity of 5.88%. During the same period last year, the firm earned $1.18 EPS. On average, analysts expect that KKR & Co. Inc. will post 5.68 EPS for the current year.

KKR & Co. Inc. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Monday, August 10th will be paid a dividend of $0.195 per share. The ex-dividend date is Monday, August 10th. This represents a $0.78 dividend on an annualized basis and a yield of 0.7%. KKR & Co. Inc.’s dividend payout ratio (DPR) is currently 24.84%.

KKR & Co. Inc. declared that its board has initiated a stock repurchase program on Tuesday, May 5th that authorizes the company to buyback $500.00 million in 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 usually a sign that the company’s board of directors believes its stock is undervalued.

KKR & Co. Inc. Company 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.