Havemeyer Place LP Makes New $3.14 Million Investment in KKR & Co. Inc. $KKR

Havemeyer Place LP bought a new position in shares of KKR & Co. Inc. (NYSE:KKR) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 24,660 shares of the asset manager’s stock, valued at approximately $3,144,000. KKR & Co. Inc. comprises about 0.6% of Havemeyer Place LP’s portfolio, making the stock its 20th biggest holding.

A number of other institutional investors have also recently added to or reduced their stakes in KKR. Norges Bank bought a new stake in KKR & Co. Inc. during the 4th quarter worth approximately $1,715,929,000. Strive Asset Management LLC bought a new stake in shares of KKR & Co. Inc. in the 3rd quarter valued at $535,907,000. Viking Global Investors LP bought a new stake in shares of KKR & Co. Inc. in the 3rd quarter valued at $352,038,000. Close Asset Management Ltd boosted its stake in shares of KKR & Co. Inc. by 4,155.1% in the 3rd quarter. Close Asset Management Ltd now owns 1,515,299 shares of the asset manager’s stock valued at $196,845,000 after purchasing an additional 1,479,688 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of KKR & Co. Inc. by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 60,064,587 shares of the asset manager’s stock valued at $7,657,034,000 after purchasing an additional 821,739 shares during the last quarter. 76.26% of the stock is owned by institutional investors.

KKR & Co. Inc. Stock Performance

KKR opened at $93.51 on Friday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.70. The company’s fifty day moving average price is $96.81 and its two-hundred day moving average price is $108.17. KKR & Co. Inc. has a 1-year low of $82.67 and a 1-year high of $153.87. The company has a market cap of $83.96 billion, a price-to-earnings ratio of 31.81, a PEG ratio of 0.81 and a beta of 1.79.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings data 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 for the quarter. On average, analysts expect that KKR & Co. Inc. will post 5.51 EPS for the current fiscal year.

KKR & Co. Inc. declared that its board has authorized a stock buyback program on Tuesday, May 5th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the asset manager to reacquire up to 0.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

KKR & Co. Inc. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a dividend of $0.195 per share. The ex-dividend date was Friday, May 15th. This is a positive change from KKR & Co. Inc.’s previous quarterly dividend of $0.19. This represents a $0.78 annualized dividend and a yield of 0.8%. KKR & Co. Inc.’s dividend payout ratio is currently 26.53%.

Wall Street Analysts Forecast Growth

A number of research firms have 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. Piper Sandler dropped their target price on shares of KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. The Goldman Sachs Group dropped their target price on shares of KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Royal Bank Of Canada dropped their target price on shares of KKR & Co. Inc. from $132.00 to $128.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 6th. Finally, UBS Group boosted their target price on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, KKR & Co. Inc. 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.