Sumitomo Life Insurance Co. Decreases Stock Position in KKR & Co. Inc. $KKR

Sumitomo Life Insurance Co. cut its stake in KKR & Co. Inc. (NYSE:KKR) by 25.3% in the fourth quarter, HoldingsChannel reports. The firm owned 73,300 shares of the asset manager’s stock after selling 24,800 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in KKR & Co. Inc. were worth $9,344,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KKR. Asset Dedication LLC purchased a new position in KKR & Co. Inc. in the third quarter valued at $26,000. GGM Financials LLC purchased a new stake in KKR & Co. Inc. during the 3rd quarter worth about $27,000. Washington Trust Advisors Inc. purchased a new stake in KKR & Co. Inc. during the 4th quarter worth about $27,000. Elyxium Wealth LLC purchased a new stake in KKR & Co. Inc. during the 4th quarter worth about $27,000. Finally, SouthState Bank Corp lifted its holdings in KKR & Co. Inc. by 185.0% during the 4th quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock worth $29,000 after buying an additional 148 shares during the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

KKR & Co. Inc. Stock Up 1.1%

KKR & Co. Inc. stock opened at $96.37 on Friday. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two 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 PEG ratio of 0.82 and a beta of 1.79. The stock 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 posted its earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%.The business had revenue of $5.74 billion during the quarter. Equities research analysts expect that KKR & Co. Inc. will post 5.51 earnings per share for the current year.

KKR & Co. Inc. announced that its board has authorized a stock buyback plan on Tuesday, May 5th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the asset manager to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

KKR & Co. Inc. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were issued a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, May 15th. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.19. KKR & Co. Inc.’s dividend payout ratio (DPR) is presently 26.53%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Morgan Stanley decreased their price target 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. Royal Bank Of Canada decreased their price target on KKR & Co. Inc. from $132.00 to $128.00 and set an “outperform” rating for the company in a report on Wednesday, May 6th. Oppenheimer decreased their price target on KKR & Co. Inc. from $187.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, April 13th. Zacks Research raised KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. Finally, BMO Capital Markets decreased their price target on KKR & Co. Inc. from $125.00 to $106.00 and set an “outperform” rating for the company in a report on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, KKR & Co. Inc. currently has a consensus rating of “Moderate Buy” and an average target price of $134.53.

About KKR & Co. Inc.

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.