Korea Investment CORP Makes New $20.64 Million Investment in KKR & Co. Inc. $KKR

Korea Investment CORP bought a new stake in shares of KKR & Co. Inc. (NYSE:KKR) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 224,938 shares of the asset manager’s stock, valued at approximately $20,645,000.

Several other institutional investors and hedge funds also recently bought and sold shares of KKR. EP Wealth Advisors LLC acquired a new stake in shares of KKR & Co. Inc. during the second quarter worth approximately $7,358,000. Ieq Capital LLC acquired a new position in KKR & Co. Inc. in the 2nd quarter valued at approximately $13,033,000. Heron Bay Capital Management acquired a new position in KKR & Co. Inc. in the 2nd quarter valued at approximately $35,124,000. Callan Family Office LLC purchased a new stake in KKR & Co. Inc. in the 2nd quarter worth approximately $1,039,000. Finally, Lalia Capital LLC purchased a new stake in KKR & Co. Inc. in the 2nd quarter worth approximately $10,196,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Price Performance

Shares of KKR opened at $108.59 on Monday. The firm has a market cap of $97.47 billion, a PE ratio of 34.58, a PEG ratio of 0.92 and a beta of 1.78. The firm’s 50 day moving average price is $100.09 and its 200 day moving average price is $97.51. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.09 and a current ratio of 0.09. KKR & Co. Inc. has a twelve month low of $82.67 and a twelve month high of $152.10.

KKR & Co. Inc. (NYSE:KKR) last posted its earnings results on Thursday, July 30th. The asset manager reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.20. The firm had revenue of $5.73 billion during the quarter, compared to analysts’ expectations 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 in the previous year, the company earned $1.18 earnings per share. As a group, research analysts expect that KKR & Co. Inc. will post 5.68 EPS for the current fiscal year.

KKR & Co. Inc. Announces Dividend

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

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on KKR shares. Weiss Ratings raised shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, June 16th. Morgan Stanley dropped 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 note on Tuesday, July 21st. BMO Capital Markets increased their price objective on KKR & Co. Inc. from $112.00 to $118.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Royal Bank Of Canada lifted their price objective 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. Finally, HSBC boosted their target price on KKR & Co. Inc. from $118.00 to $121.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $127.75.

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.