Janus Henderson Group PLC Sells 41,164 Shares of KKR & Co. Inc. $KKR

Janus Henderson Group PLC reduced its position in KKR & Co. Inc. (NYSE:KKR) by 38.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,213 shares of the asset manager’s stock after selling 41,164 shares during the quarter. Janus Henderson Group PLC’s holdings in KKR & Co. Inc. were worth $6,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in KKR. Norges Bank bought a new position in KKR & Co. Inc. during the fourth quarter worth about $1,715,929,000. Viking Global Investors LP bought a new stake in shares of KKR & Co. Inc. in the third quarter valued at approximately $352,038,000. Temasek Holdings Private Ltd raised its position in shares of KKR & Co. Inc. by 164.4% in the first quarter. Temasek Holdings Private Ltd now owns 3,522,797 shares of the asset manager’s stock valued at $325,859,000 after purchasing an additional 2,190,248 shares during the period. Farallon Capital Management LLC purchased a new stake in shares of KKR & Co. Inc. during the 4th quarter valued at approximately $257,216,000. Finally, Amundi boosted its holdings in KKR & Co. Inc. by 65.3% in the 1st quarter. Amundi now owns 3,726,040 shares of the asset manager’s stock worth $344,659,000 after buying an additional 1,472,265 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Key Headlines Impacting KKR & Co. Inc.

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

Analyst Ratings Changes

A number of research analysts recently weighed in on KKR shares. Keefe, Bruyette & Woods upgraded shares of KKR & Co. Inc. to a “moderate buy” rating in a research note on Monday, July 20th. Zacks Research raised KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. UBS Group lifted their price target on KKR & Co. Inc. from $113.00 to $126.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. TD Cowen boosted their price objective on KKR & Co. Inc. from $108.00 to $111.00 and gave the company a “hold” rating in a research note on Monday. Finally, BMO Capital Markets increased 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. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $127.75.

KKR & Co. Inc. Stock Down 2.1%

Shares of NYSE:KKR opened at $103.41 on Friday. The firm has a fifty day moving average price of $96.90 and a two-hundred day moving average price of $98.34. The company has a market cap of $92.85 billion, a price-to-earnings ratio of 32.93, a PEG ratio of 0.91 and a beta of 1.78. 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 one year low of $82.67 and a one year high of $152.10.

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

KKR & Co. Inc. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Monday, August 10th will be issued a $0.195 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.78 annualized dividend and a dividend yield of 0.8%. KKR & Co. Inc.’s dividend payout ratio (DPR) is presently 24.84%.

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