DE Burlo Group Inc. Sells 57,500 Shares of KKR & Co. Inc. $KKR

DE Burlo Group Inc. lessened its holdings in KKR & Co. Inc. (NYSE:KKR) by 37.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 95,200 shares of the asset manager’s stock after selling 57,500 shares during the period. KKR & Co. Inc. accounts for 1.5% of DE Burlo Group Inc.’s portfolio, making the stock its 27th biggest position. DE Burlo Group Inc.’s holdings in KKR & Co. Inc. were worth $12,136,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the business. Asset Dedication LLC bought a new position in KKR & Co. Inc. in the third quarter valued at $26,000. GGM Financials LLC bought a new stake in KKR & Co. Inc. during the 3rd quarter worth about $27,000. Washington Trust Advisors Inc. acquired a new position in shares of KKR & Co. Inc. during the 4th quarter worth about $27,000. Elyxium Wealth LLC acquired a new position in shares of KKR & Co. Inc. during the 4th quarter worth about $27,000. Finally, SouthState Bank Corp grew its holdings in shares of KKR & Co. Inc. by 185.0% in the 4th quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 148 shares in the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

KKR & Co. Inc. Trading Up 1.1%

Shares of NYSE:KKR opened at $96.37 on Friday. KKR & Co. Inc. has a 52-week low of $82.67 and a 52-week 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 capitalization of $86.52 billion, a P/E ratio of 32.78, a price-to-earnings-growth ratio of 0.83 and a beta of 1.79. The company has a 50-day simple moving average of $97.27 and a 200 day simple moving average of $107.45.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings data on Friday, February 27th. The asset manager reported $1.24 earnings per share (EPS) for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%.The firm had revenue of $5.74 billion for the quarter. Sell-side analysts forecast that KKR & Co. Inc. will post 5.51 earnings per share for the current year.

KKR & Co. Inc. declared that its board has approved a share buyback program 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 programs are usually an indication that the company’s board of directors believes its stock is undervalued.

KKR & Co. Inc. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were 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 of this dividend was Friday, May 15th. This is a boost from KKR & Co. Inc.’s previous quarterly dividend of $0.19. KKR & Co. Inc.’s payout ratio is presently 26.53%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. BMO Capital Markets lowered their target price on KKR & Co. Inc. from $125.00 to $106.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 24th. Piper Sandler reduced their price target on KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. UBS Group raised their price target on KKR & Co. Inc. from $113.00 to $126.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. TD Cowen dropped their price objective on KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating on the stock in a research note on Monday, May 18th. Finally, Morgan Stanley cut their price objective on KKR & Co. Inc. from $177.00 to $153.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $134.53.

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.