KKR & Co. Inc. (NYSE:KKR) Price Target Raised to $105.00

KKR & Co. Inc. (NYSE:KKR) had its price target hoisted by Wells Fargo & Company from $97.00 to $105.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the asset manager’s stock.

KKR has been the topic of a number of other research reports. HSBC lowered their target price on KKR & Co. Inc. from $121.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, October 1st. Barclays cut their price target on KKR & Co. Inc. from $130.00 to $127.00 and set an “overweight” rating for the company in a report on Monday, October 26th. The Goldman Sachs Group reduced their price objective on KKR & Co. Inc. from $127.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, October 2nd. Deutsche Bank increased their price objective on KKR & Co. Inc. from $111.00 to $116.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Finally, Keefe, Bruyette & Woods upgraded shares of KKR & Co. Inc. to a “moderate buy” rating in a research note on Monday, July 20th. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.32.

KKR & Co. Inc. Trading Down 2.9%

Shares of NYSE:KKR opened at $97.13 on Tuesday. The company has a market cap of $86.65 billion, a P/E ratio of 28.32, a P/E/G ratio of 0.77 and a beta of 1.72. The stock’s 50-day moving average is $95.30 and its 200-day moving average is $97.87. KKR & Co. Inc. has a 52-week low of $82.67 and a 52-week high of $144.84. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.09 and a current ratio of 0.09.

KKR & Co. Inc. (NYSE:KKR) last posted its quarterly earnings data on Monday, November 9th. The asset manager reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.20. KKR & Co. Inc. had a return on equity of 6.33% and a net margin of 16.38%. The business had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the previous year, the firm earned $1.41 EPS. Equities research analysts predict that KKR & Co. Inc. will post 7.32 earnings per share for the current year.

KKR & Co. Inc. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 19th will be paid a $0.1950 dividend. This represents a $0.78 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Thursday, November 19th. KKR & Co. Inc.’s dividend payout ratio (DPR) is presently 22.74%.

Insiders Place Their Bets

In related news, insider Dane Holmes sold 10,000 shares of KKR & Co. Inc. stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $108.58, for a total transaction of $1,085,800.00. Following the sale, the insider directly owned 8,513 shares of the company’s stock, valued at $924,341.54. This trade represents a 54.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.20% of the stock is currently owned by company insiders.

Institutional Trading of KKR & Co. Inc.

A number of hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. increased its position in shares of KKR & Co. Inc. by 6.9% during the first quarter. Principal Financial Group Inc. now owns 19,507,741 shares of the asset manager’s stock valued at $1,804,470,000 after purchasing an additional 1,261,314 shares during the period. Legal & General Group Plc bought a new position in KKR & Co. Inc. in the second quarter worth $470,778,000. Amundi boosted its stake in KKR & Co. Inc. by 65.3% during the first 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 in the last quarter. Temasek Holdings Private Ltd boosted its stake in KKR & Co. Inc. by 164.4% during the first quarter. Temasek Holdings Private Ltd now owns 3,522,797 shares of the asset manager’s stock worth $325,859,000 after buying an additional 2,190,248 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in KKR & Co. Inc. by 1.6% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,461,541 shares of the asset manager’s stock worth $317,700,000 after buying an additional 55,489 shares in the last quarter. Institutional investors own 76.26% of the company’s stock.

Trending Headlines about KKR & Co. Inc.

Investors following KKR have been watching these headlines:

• Positive Sentiment: KKR and Diamondback are acquiring Permian water infrastructure firm Deep Blue. The deal expands KKR’s exposure to energy-related infrastructure, though the announced reports do not specify transaction terms. Diamondback, KKR to acquire Permian water infrastructure firm Deep Blue
• Positive Sentiment: KKR and RWE finalized a partnership to develop two U.K. offshore wind projects with about 2.8 gigawatts of capacity and a combined investment of roughly £12 billion. The project adds a substantial renewable-energy opportunity, although returns depend on execution and long-term operations. RWE, KKR finalise $16 billion investment in UK renewables
• Positive Sentiment: Recent coverage said KKR beat consensus on a key earnings measure and substantially exceeded revenue expectations, though revenue declined notably year over year. The results offer a positive surprise against forecasts but leave a year-over-year growth caveat. Is KKR a Buy After Its Latest Earnings Report?

KKR & Co. Inc. Company Profile

KKR & Co. Inc. is a global investment firm that manages alternative investment funds and other investment products. Its activities include private equity, credit, infrastructure and real estate investing, as well as insurance through its Global Atlantic business. The firm also provides capital markets services, including financing and strategic solutions for companies and other clients. KKR invests across multiple industries and serves clients and investors in markets around the world. Founded in 1976 by Henry Kravis, George Roberts and Jerome Kohlberg, KKR is led by co-chief executive officers Joseph Bae and Scott Nuttall.