Assenagon Asset Management S.A. Acquires 1,090,403 Shares of KKR & Co. Inc. $KKR

Assenagon Asset Management S.A. boosted its holdings in KKR & Co. Inc. (NYSE:KKR) by 97.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,206,445 shares of the asset manager’s stock after buying an additional 1,090,403 shares during the quarter. Assenagon Asset Management S.A.’s holdings in KKR & Co. Inc. were worth $202,508,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Washington Trust Advisors Inc. bought a new position in shares of KKR & Co. Inc. in the fourth quarter worth about $27,000. Elyxium Wealth LLC bought a new stake in shares of KKR & Co. Inc. during the 4th quarter valued at 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 purchasing an additional 148 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in KKR & Co. Inc. during the 4th quarter worth approximately $29,000. Finally, MV Capital Management Inc. acquired a new position in KKR & Co. Inc. during the 4th quarter worth approximately $31,000. 76.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on KKR. Zacks Research raised shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. TD Cowen increased their price target on KKR & Co. Inc. from $108.00 to $111.00 and gave the company a “hold” rating in a research note on Monday. UBS Group raised their price objective on KKR & Co. Inc. from $113.00 to $126.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Weiss Ratings upgraded KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, June 16th. Finally, Barclays upped their target price on KKR & Co. Inc. from $124.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, KKR & Co. Inc. presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.75.

KKR & Co. Inc. Stock Down 2.1%

Shares of NYSE KKR opened at $103.41 on Friday. The company has a 50 day simple moving average of $96.90 and a 200 day simple moving average of $98.34. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.08 and a quick ratio of 0.08. 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 $92.85 billion, a PE ratio of 32.93, a price-to-earnings-growth ratio of 0.91 and a beta of 1.78.

KKR & Co. Inc. (NYSE:KKR) last posted its earnings results on Thursday, July 30th. The asset manager reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.20. KKR & Co. Inc. had a net margin of 14.41% and a return on equity of 5.89%. The firm had revenue of $5.73 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period in the previous year, the firm posted $1.18 EPS. On average, research analysts forecast that KKR & Co. Inc. will post 5.66 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. Stockholders of record on Monday, August 10th will be issued a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, August 10th. KKR & Co. Inc.’s payout ratio is 24.84%.

KKR & Co. Inc. announced that its board has authorized a share buyback plan on Tuesday, May 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the asset manager to repurchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

More KKR & Co. Inc. News

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

• Positive Sentiment: KKR agreed to acquire Medicover’s India hospital business for approximately €1.2 billion. The transaction expands KKR’s healthcare portfolio in India and could provide exposure to a growing medical-services market. Medicover to sell India hospital business to KKR for €1.2 billion
• Positive Sentiment: KKR closed its Global Infrastructure Investors V fund with $19.2 billion available for investment. The fundraising reinforces the firm’s ability to attract institutional capital and supports future fee-generating asset growth. KKR closes Global Infrastructure Investors V fund
• Positive Sentiment: KKR is reportedly taking medical-equipment maker Integer Holdings private in a roughly $5.7 billion transaction and is arranging about $2 billion of debt financing. The deal could increase KKR’s assets under management and future management-fee potential. KKR to take Integer Holdings private
• Positive Sentiment: Analysts raised their KKR price targets to $118 at BMO Capital Markets and $111 at TD Cowen, while Argus forecast strong appreciation. These revisions suggest improving analyst confidence in KKR’s earnings and growth outlook. BMO raises KKR price target
• Neutral Sentiment: A separate company, FS KKR Capital Corp. (NYSE: FSK), reported quarterly results and declared a $0.44 distribution. This is not an operating update for KKR & Co. Inc. and should have limited direct effect on KKR stock. FS KKR Capital quarterly results
• Negative Sentiment: Investors purchased a large volume of KKR put options, signaling increased demand for downside protection or bearish positioning. This may contribute to short-term pressure, although options activity is not a fundamental indicator. KKR put-option activity

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.