United Bank Takes Position in KKR & Co. Inc. $KKR

United Bank bought a new stake in KKR & Co. Inc. (NYSE:KKR) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 14,006 shares of the asset manager’s stock, valued at approximately $1,285,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Washington Trust Advisors Inc. purchased a new stake in KKR & Co. Inc. during the 4th quarter valued at about $27,000. Elyxium Wealth LLC purchased a new position in shares of KKR & Co. Inc. in the fourth quarter worth about $27,000. SouthState Bank Corp lifted its holdings in shares of KKR & Co. Inc. by 185.0% during the fourth quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock worth $29,000 after purchasing an additional 148 shares during the period. Garton & Associates Financial Advisors LLC acquired a new stake in shares of KKR & Co. Inc. during the fourth quarter worth about $29,000. Finally, MV Capital Management Inc. acquired a new stake in shares of KKR & Co. Inc. during the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. News Roundup

Here are the key news stories impacting KKR & Co. Inc. this week:

• Positive Sentiment: Expansion into Indian live entertainment: KKR agreed to acquire a minority stake in BookMyShow, India’s leading ticketing and live-entertainment platform. The investment gives KKR exposure to growth in concerts and events, including major international tours, and could generate future management and performance fees. Financial terms were not disclosed. KKR Invests in Indian Ticketing and Live Entertainment Platform BookMyShow
• Positive Sentiment: Potential UGI acquisition: Reports say KKR has offered approximately $9 billion to acquire UGI Corp., a U.S. natural-gas and electricity distributor. A successful transaction would materially expand KKR’s infrastructure and energy portfolio, though the offer is unsolicited and remains subject to negotiations and potential regulatory review. KKR makes $9 billion takeover bid for UGI
• Positive Sentiment: Additional healthcare opportunity: KKR reportedly emerged as the preferred bidder for a minority stake in Malaysia’s Avisena Healthcare, potentially valuing the company at about $370 million. The deal would add to KKR’s exposure to private healthcare in Asia, although it has not been finalized. KKR leads bidding race for minority stake in Malaysia’s Avisena
• Neutral Sentiment: Commentary highlighted KKR’s long-term investment platform and an 85 GF Score, but these are opinions and do not represent new company fundamentals. Broader market support from easing inflation and reduced interest-rate concerns may also benefit alternative-asset managers.
• Negative Sentiment: First Philippine Holdings reportedly rejected KKR’s initial bid for a stake in First Gen, showing that competitive bidding and execution risks could limit KKR’s ability to deploy capital in attractive infrastructure assets. FPH spurns KKR’s First Gen bid

Wall Street Analyst Weigh In

Several brokerages recently weighed in on KKR. Argus increased their price target on shares of KKR & Co. Inc. from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Morgan Stanley dropped their price objective on shares of KKR & Co. Inc. from $153.00 to $147.00 and set an “overweight” rating on the stock in a report on Tuesday, July 21st. BMO Capital Markets increased their price objective on shares of KKR & Co. Inc. from $112.00 to $118.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Barclays raised their target price on shares of KKR & Co. Inc. from $124.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Finally, Oppenheimer decreased their target price on shares of KKR & Co. Inc. from $143.00 to $139.00 and set an “outperform” rating for the company in a research report on Friday, July 17th. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, KKR & Co. Inc. presently has an average rating of “Moderate Buy” and a consensus price target of $127.75.

KKR & Co. Inc. Trading Up 2.9%

Shares of NYSE:KKR opened at $110.32 on Thursday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.71. KKR & Co. Inc. has a 12-month low of $82.67 and a 12-month high of $152.10. The business has a 50 day moving average of $99.60 and a two-hundred day moving average of $97.60. The company has a market capitalization of $99.03 billion, a PE ratio of 35.13, a PEG ratio of 0.92 and a beta of 1.78.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings data on Thursday, July 30th. The asset manager reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.20. The business 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 5.88%. During the same quarter last year, the company earned $1.18 EPS. As a group, analysts forecast that KKR & Co. Inc. will post 5.68 EPS for the current year.

KKR & Co. Inc. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Monday, August 10th will be issued a dividend of $0.195 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.78 dividend on an annualized basis and a yield of 0.7%. KKR & Co. Inc.’s dividend payout ratio is 24.84%.

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