Morgan Stanley Boosts KKR & Co Inc (NYSE:KKR) Price Target to $35.00

KKR & Co Inc (NYSE:KKR) had its target price raised by research analysts at Morgan Stanley from $27.00 to $35.00 in a research report issued on Tuesday, BenzingaRatingsTable reports. The brokerage presently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s price target suggests a potential upside of 2.37% from the company’s current price.

Several other equities research analysts have also issued reports on KKR. Deutsche Bank raised their target price on KKR & Co Inc from $31.00 to $32.00 and gave the company a “hold” rating in a research report on Thursday, July 9th. Wells Fargo & Co upped their price target on shares of KKR & Co Inc from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. Piper Sandler assumed coverage on shares of KKR & Co Inc in a research note on Wednesday, June 17th. They issued an “overweight” rating and a $40.00 target price on the stock. Keefe, Bruyette & Woods lifted their price target on KKR & Co Inc from $34.00 to $41.00 in a research note on Thursday, July 9th. Finally, Zacks Investment Research cut shares of KKR & Co Inc from a “buy” rating to a “hold” rating in a research note on Tuesday, March 17th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. KKR & Co Inc currently has an average rating of “Buy” and an average target price of $36.00.

KKR & Co Inc stock opened at $34.19 on Tuesday. The stock has a market capitalization of $19.49 billion, a P/E ratio of -854.75, a price-to-earnings-growth ratio of 3.84 and a beta of 1.55. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a fifty day moving average of $30.35 and a 200-day moving average of $28.17. KKR & Co Inc has a 52 week low of $15.55 and a 52 week high of $35.24.

KKR & Co Inc (NYSE:KKR) last posted its quarterly earnings data on Wednesday, May 6th. The asset manager reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. KKR & Co Inc had a return on equity of 4.37% and a net margin of 47.50%. The firm had revenue of $380.60 million during the quarter, compared to analyst estimates of $432.47 million. During the same period last year, the company posted $0.38 EPS. The business’s quarterly revenue was up 2.2% on a year-over-year basis. On average, research analysts forecast that KKR & Co Inc will post 1.4 earnings per share for the current year.

In other news, General Counsel David Sorkin sold 26,333 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $26.56, for a total transaction of $699,404.48. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Kkr Stream Holdings Llc sold 13,845,682 shares of KKR & Co Inc stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $13.00, for a total transaction of $179,993,866.00. The disclosure for this sale can be found here. Company insiders own 39.34% of the company’s stock.

A number of hedge funds have recently made changes to their positions in KKR. Principal Financial Group Inc. boosted its stake in shares of KKR & Co Inc by 6.1% during the 1st quarter. Principal Financial Group Inc. now owns 22,907,200 shares of the asset manager’s stock worth $537,632,000 after acquiring an additional 1,317,628 shares in the last quarter. BlackRock Inc. raised its position in KKR & Co Inc by 24.9% in the first quarter. BlackRock Inc. now owns 18,821,620 shares of the asset manager’s stock valued at $441,742,000 after purchasing an additional 3,747,419 shares during the period. Akre Capital Management LLC grew its holdings in shares of KKR & Co Inc by 11.2% during the 1st quarter. Akre Capital Management LLC now owns 14,187,536 shares of the asset manager’s stock worth $332,981,000 after purchasing an additional 1,432,716 shares during the period. Invesco Ltd. lifted its position in KKR & Co Inc by 67.0% in the first quarter. Invesco Ltd. now owns 12,404,071 shares of the asset manager’s stock valued at $291,123,000 after buying an additional 4,974,443 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its position in shares of KKR & Co Inc by 13.7% during the first quarter. Diamond Hill Capital Management Inc. now owns 11,410,216 shares of the asset manager’s stock valued at $267,798,000 after acquiring an additional 1,377,737 shares during the last quarter. Institutional investors own 76.87% of the company’s stock.

KKR & Co Inc Company Profile

KKR & Co L.P. is a private equity and real estate investment firm specializing in direct and fund of fund investments. It specializes in acquisitions, leveraged buyouts, management buyouts, credit special situations, growth equity, mature, mezzanine, distressed, turnaround, lower middle market and middle market investments.

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Analyst Recommendations for KKR & Co Inc (NYSE:KKR)

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