Castleview Partners LLC Grows Holdings in KKR & Co. Inc. $KKR

Castleview Partners LLC increased its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 84.5% in the first quarter, HoldingsChannel.com reports. The firm owned 36,761 shares of the asset manager’s stock after buying an additional 16,837 shares during the period. KKR & Co. Inc. accounts for approximately 1.7% of Castleview Partners LLC’s portfolio, making the stock its 11th largest holding. Castleview Partners LLC’s holdings in KKR & Co. Inc. were worth $3,400,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in KKR & Co. Inc. by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 60,064,587 shares of the asset manager’s stock worth $7,657,034,000 after purchasing an additional 821,739 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of KKR & Co. Inc. by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 14,995,742 shares of the asset manager’s stock valued at $1,903,220,000 after buying an additional 146,285 shares during the period. Norges Bank purchased a new stake in shares of KKR & Co. Inc. in the 4th quarter valued at $1,715,929,000. First Manhattan CO. LLC. lifted its stake in KKR & Co. Inc. by 0.8% during the 4th quarter. First Manhattan CO. LLC. now owns 8,597,044 shares of the asset manager’s stock worth $1,095,951,000 after acquiring an additional 67,441 shares in the last quarter. Finally, Capital Research Global Investors lifted its stake in KKR & Co. Inc. by 0.4% during the 4th quarter. Capital Research Global Investors now owns 5,602,262 shares of the asset manager’s stock worth $714,195,000 after acquiring an additional 23,483 shares in the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

Analyst Upgrades and Downgrades

KKR has been the subject of several research reports. Barclays lifted their target price on KKR & Co. Inc. from $122.00 to $124.00 and gave the company an “overweight” rating in a research report on Friday. BMO Capital Markets cut their target price on shares of KKR & Co. Inc. from $125.00 to $106.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 24th. Royal Bank Of Canada decreased their price target on shares of KKR & Co. Inc. from $132.00 to $128.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. Oppenheimer reduced their price objective on KKR & Co. Inc. from $187.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday, April 13th. Finally, The Goldman Sachs Group cut their price target on KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $131.85.

KKR & Co. Inc. Stock Up 0.7%

KKR stock traded up $0.68 during midday trading on Friday, reaching $96.95. 2,839,186 shares of the company were exchanged, compared to its average volume of 4,302,104. The stock’s 50-day simple moving average is $95.69 and its 200 day simple moving average is $102.63. KKR & Co. Inc. has a 1-year low of $82.67 and a 1-year high of $153.87. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.08 and a current ratio of 0.08. The company has a market cap of $87.05 billion, a price-to-earnings ratio of 32.98, a price-to-earnings-growth ratio of 0.84 and a beta of 1.79.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. The firm had revenue of $5.74 billion during the quarter. On average, equities analysts forecast that KKR & Co. Inc. will post 5.55 earnings per share for the current year.

KKR & Co. Inc. announced that its Board of Directors has approved a share repurchase plan on Tuesday, May 5th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the asset manager to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

KKR & Co. Inc. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a dividend of $0.195 per share. The ex-dividend date was Friday, May 15th. This represents a $0.78 dividend on an annualized basis and a yield of 0.8%. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.18. KKR & Co. Inc.’s dividend payout ratio (DPR) is currently 26.53%.

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.