Canada Pension Plan Investment Board Makes New Investment in KKR & Co. Inc. $KKR

Canada Pension Plan Investment Board purchased a new stake in shares of KKR & Co. Inc. (NYSE:KKR) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 956,842 shares of the asset manager’s stock, valued at approximately $87,819,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of KKR. Washington Trust Advisors Inc. acquired a new position in KKR & Co. Inc. during the 4th quarter worth about $27,000. Elyxium Wealth LLC acquired a new stake in KKR & Co. Inc. in the fourth quarter valued at $27,000. SouthState Bank Corp boosted its holdings in KKR & Co. Inc. by 185.0% in the fourth quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 148 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in shares of KKR & Co. Inc. in the 4th quarter valued at $29,000. Finally, MV Capital Management Inc. purchased a new position in shares of KKR & Co. Inc. in the 4th quarter valued at $31,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KKR has been the topic of a number of research analyst reports. Oppenheimer cut 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. Argus raised their target price on shares of KKR & Co. Inc. from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Keefe, Bruyette & Woods raised KKR & Co. Inc. to a “moderate buy” rating in a report on Monday, July 20th. TD Cowen boosted their price objective on shares of KKR & Co. Inc. from $108.00 to $111.00 and gave the stock a “hold” rating in a report on Monday, August 3rd. Finally, Weiss Ratings upgraded shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, June 16th. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $127.75.

KKR & Co. Inc. Price Performance

KKR stock opened at $108.60 on Thursday. 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 firm has a market cap of $97.48 billion, a P/E ratio of 34.59, a PEG 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 stock’s 50 day moving average price is $100.68 and its 200 day moving average price 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, topping analysts’ consensus estimates 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 firm had revenue of $5.73 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter last year, the business posted $1.18 EPS. On average, sell-side analysts expect that KKR & Co. Inc. will post 5.68 earnings per share for the current fiscal year.

KKR & Co. Inc. Announces Dividend

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

KKR & Co. Inc. announced that its Board of Directors has initiated a stock buyback plan on Tuesday, May 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the asset manager to purchase up to 0.5% of its shares through open market purchases. Shares buyback plans are often a sign 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.