Freestone Grove Partners LP Buys Shares of 594,658 KKR & Co. Inc. $KKR

Freestone Grove Partners LP purchased a new stake in KKR & Co. Inc. (NYSE:KKR) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 594,658 shares of the asset manager’s stock, valued at approximately $54,578,000.

Other hedge funds have also modified their holdings of the company. Caisse de depot et placement du Quebec acquired a new stake in shares of KKR & Co. Inc. during the 2nd quarter worth about $7,562,000. Gallagher Fiduciary Advisors LLC acquired a new position in KKR & Co. Inc. in the second quarter valued at about $287,000. Man Group plc acquired a new position in KKR & Co. Inc. in the second quarter valued at about $5,974,000. Jupiter Topco LLC purchased a new position in KKR & Co. Inc. during the second quarter worth about $4,998,000. Finally, Ancora Advisors LLC purchased a new position in KKR & Co. Inc. during the second quarter worth about $3,882,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

KKR & Co. Inc. Stock Up 0.9%

Shares of KKR opened at $108.60 on Thursday. The stock has a market capitalization of $97.48 billion, a PE ratio of 34.59, a P/E/G ratio of 0.91 and a beta of 1.78. KKR & Co. Inc. has a 1 year low of $82.67 and a 1 year high of $152.10. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.09 and a current ratio of 0.09. The company’s 50-day simple moving average is $100.68 and its 200-day simple moving average is $97.62.

KKR & Co. Inc. (NYSE:KKR) last posted its quarterly earnings data on Thursday, July 30th. The asset manager reported $1.63 EPS for the quarter, beating the consensus estimate of $1.43 by $0.20. The business had revenue of $5.73 billion during the quarter, compared to analyst estimates 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 quarter last year, the firm posted $1.18 earnings per share. Analysts forecast that KKR & Co. Inc. will post 5.68 earnings per share for the current fiscal year.

KKR & Co. Inc. announced that its board has authorized a share 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 reacquire up to 0.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

KKR & Co. Inc. Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Argus boosted their price target on shares of KKR & Co. Inc. from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Zacks Research raised shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. Keefe, Bruyette & Woods upgraded shares of KKR & Co. Inc. to a “moderate buy” rating in a report on Monday, July 20th. TD Cowen boosted their target price on KKR & Co. Inc. from $108.00 to $111.00 and gave the company a “hold” rating in a research report on Monday, August 3rd. Finally, Oppenheimer lowered their price target on KKR & Co. Inc. from $143.00 to $139.00 and set an “outperform” rating for the company in a research report on Friday, July 17th. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $127.75.

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.