Eastern Bank Cuts Position in KKR & Co. Inc. $KKR

Eastern Bank lowered its holdings in KKR & Co. Inc. (NYSE:KKR) by 99.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 427 shares of the asset manager’s stock after selling 46,000 shares during the quarter. Eastern Bank’s holdings in KKR & Co. Inc. were worth $39,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Border to Coast Pensions Partnership Ltd increased its holdings in KKR & Co. Inc. by 14.5% in the first quarter. Border to Coast Pensions Partnership Ltd now owns 435,000 shares of the asset manager’s stock valued at $40,361,000 after buying an additional 55,000 shares in the last quarter. Andra AP fonden boosted its stake in shares of KKR & Co. Inc. by 201.7% during the 1st quarter. Andra AP fonden now owns 57,630 shares of the asset manager’s stock worth $5,331,000 after acquiring an additional 38,530 shares in the last quarter. Third View Private Wealth LLC purchased a new stake in shares of KKR & Co. Inc. during the 4th quarter worth approximately $3,126,000. Concurrent Investment Advisors LLC grew its holdings in shares of KKR & Co. Inc. by 125.6% in the 4th quarter. Concurrent Investment Advisors LLC now owns 19,728 shares of the asset manager’s stock worth $2,515,000 after acquiring an additional 10,982 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of KKR & Co. Inc. by 152.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 174,004 shares of the asset manager’s stock worth $22,182,000 after acquiring an additional 105,070 shares during the period. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KKR has been the subject of several research reports. BMO Capital Markets lifted their price objective on KKR & Co. Inc. from $112.00 to $118.00 and gave the stock an “outperform” rating in a report on Monday. Barclays upped their target price on KKR & Co. Inc. from $124.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Argus raised their price target on KKR & Co. Inc. from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday. TD Cowen lifted their price target on KKR & Co. Inc. from $108.00 to $111.00 and gave the stock a “hold” rating in a research note on Monday. Finally, UBS Group boosted their price objective on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, KKR & Co. Inc. presently has an average rating of “Moderate Buy” and an average target price of $127.75.

KKR & Co. Inc. News Summary

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

KKR & Co. Inc. Trading Down 2.1%

Shares of KKR opened at $103.41 on Friday. 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 stock has a market cap of $92.85 billion, a price-to-earnings ratio of 32.93, a price-to-earnings-growth ratio of 0.91 and a beta of 1.78. The firm has a 50 day simple moving average of $96.90 and a 200-day simple moving average of $98.34.

KKR & Co. Inc. (NYSE:KKR) last posted its earnings results on Thursday, July 30th. The asset manager reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.20. The firm had revenue of $5.73 billion for the quarter, compared to analyst estimates of $2.55 billion. KKR & Co. Inc. had a return on equity of 5.89% and a net margin of 14.41%.During the same quarter in the prior year, the company earned $1.18 EPS. Equities analysts forecast that KKR & Co. Inc. will post 5.66 EPS for the current fiscal year.

KKR & Co. Inc. Announces Dividend

The business 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 $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, August 10th. KKR & Co. Inc.’s payout ratio is 24.84%.

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

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.