EverSource Wealth Advisors LLC Acquires 12,616 Shares of KKR & Co. Inc. $KKR

EverSource Wealth Advisors LLC increased its stake in KKR & Co. Inc. (NYSE:KKR) by 12.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,809 shares of the asset manager’s stock after acquiring an additional 12,616 shares during the period. EverSource Wealth Advisors LLC’s holdings in KKR & Co. Inc. were worth $10,712,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Border to Coast Pensions Partnership Ltd raised its stake in shares of KKR & Co. Inc. by 14.5% in the first quarter. Border to Coast Pensions Partnership Ltd now owns 435,000 shares of the asset manager’s stock valued at $40,361,000 after acquiring an additional 55,000 shares during the period. Andra AP fonden boosted its stake in shares of KKR & Co. Inc. by 201.7% during the 1st quarter. Andra AP fonden now owns 57,630 shares of the asset manager’s stock worth $5,331,000 after purchasing an additional 38,530 shares during the period. Third View Private Wealth LLC bought a new position in KKR & Co. Inc. during the 4th quarter valued at about $3,126,000. Concurrent Investment Advisors LLC grew its holdings in KKR & Co. Inc. by 125.6% during the 4th quarter. Concurrent Investment Advisors LLC now owns 19,728 shares of the asset manager’s stock valued at $2,515,000 after purchasing an additional 10,982 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in KKR & Co. Inc. by 152.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 174,004 shares of the asset manager’s stock valued at $22,182,000 after purchasing an additional 105,070 shares during the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Barclays raised their price objective on shares of KKR & Co. Inc. from $122.00 to $124.00 and gave the stock an “overweight” rating in a research note on Friday, July 10th. Morgan Stanley reduced their price target on KKR & Co. Inc. from $153.00 to $147.00 and set an “overweight” rating on the stock in a report on Tuesday, July 21st. Piper Sandler decreased their price target on KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating for the company in a research note on Tuesday, April 7th. Keefe, Bruyette & Woods upgraded KKR & Co. Inc. to a “moderate buy” rating in a report on Monday, July 20th. Finally, HSBC upped their price objective on KKR & Co. Inc. from $118.00 to $121.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, KKR & Co. Inc. presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.08.

KKR & Co. Inc. Stock Performance

KKR stock opened at $102.64 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.08 and a quick ratio of 0.08. The business has a 50-day moving average price of $95.61 and a 200 day moving average price of $99.76. The company has a market capitalization of $92.15 billion, a P/E ratio of 34.91, a PEG ratio of 0.86 and a beta of 1.79. KKR & Co. Inc. has a 1-year low of $82.67 and a 1-year high of $153.87.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings data on Tuesday, May 5th. The asset manager reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.13. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same period in the prior year, the firm earned $1.15 earnings per share. The firm’s revenue for the quarter was up 38.8% compared to the same quarter last year. As a group, equities research analysts forecast that KKR & Co. Inc. will post 5.54 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given 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 a boost from KKR & Co. Inc.’s previous quarterly dividend of $0.18. KKR & Co. Inc.’s dividend payout ratio is currently 26.53%.

KKR & Co. Inc. declared that its Board of Directors has initiated a stock buyback plan on Tuesday, May 5th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the asset manager to purchase up to 0.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Key Headlines Impacting KKR & Co. Inc.

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

• Positive Sentiment: Major Kuwait infrastructure win: A consortium led by KKR, Blackstone and Brookfield signed a roughly $16 billion lease and infrastructure agreement with Kuwait’s oil sector. The deal strengthens KKR’s position in energy infrastructure and could generate management fees and investment returns over time. Kuwait Oil signs $16B infrastructure deal with Blackstone, Brookfield and KKR
• Positive Sentiment: Positive earnings setup: Analysts expect KKR’s second-quarter results to benefit from higher assets under management, management fees and revenue. Zacks also identifies KKR as having favorable Earnings ESP and potential for a positive earnings surprise, supported by market trends and anticipated profit growth. 3 Asset Managers With Positive Earnings Surprise Potential in Q2
• Neutral Sentiment: DCC Energy acquisition agreed: KKR and Energy Capital Partners reached an agreement to acquire Ireland-based DCC Energy for approximately £5.75 billion, or $7.7 billion. The transaction expands KKR’s energy and distribution exposure, although investors will weigh the substantial capital commitment, financing requirements and execution risks. Ireland’s DCC Energy agrees $7.7 billion takeover by KKR, Energy Capital
• Negative Sentiment: Expenses remain a concern: While revenue and fee-related metrics are expected to improve, elevated expenses could limit second-quarter earnings growth and represent a potential source of downside if results or guidance disappoint. KKR & Co.’s Q2 Earnings Coming Up: Here’s What You Should Know

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.