Mitsubishi UFJ Asset Management Co. Ltd. Takes Position in KKR & Co. Inc. $KKR

Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of KKR & Co. Inc. (NYSE:KKR) in the 2nd quarter, HoldingsChannel reports. The fund bought 1,608,496 shares of the asset manager’s stock, valued at approximately $147,628,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in KKR. Border to Coast Pensions Partnership Ltd raised its position in KKR & Co. Inc. by 14.5% in the 1st quarter. Border to Coast Pensions Partnership Ltd now owns 435,000 shares of the asset manager’s stock valued at $40,361,000 after buying an additional 55,000 shares during the last quarter. Andra AP fonden raised its holdings in shares of KKR & Co. Inc. by 201.7% in the first quarter. Andra AP fonden now owns 57,630 shares of the asset manager’s stock valued at $5,331,000 after purchasing an additional 38,530 shares during the last quarter. Concurrent Investment Advisors LLC raised its holdings in shares of KKR & Co. Inc. by 125.6% in the fourth 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. Northwestern Mutual Wealth Management Co. lifted its position in shares of KKR & Co. Inc. by 152.4% during the fourth 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 in the last quarter. Finally, Next Capital Management LLC boosted its holdings in KKR & Co. Inc. by 135.6% during the first quarter. Next Capital Management LLC now owns 47,771 shares of the asset manager’s stock worth $4,419,000 after purchasing an additional 27,498 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

Wall Street Analysts Forecast Growth

KKR has been the subject of several analyst reports. HSBC increased their price objective on shares of KKR & Co. Inc. from $118.00 to $121.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Royal Bank Of Canada increased their price target on KKR & Co. Inc. from $125.00 to $134.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Oppenheimer dropped their price target on KKR & Co. Inc. from $143.00 to $139.00 and set an “outperform” rating on the stock in a report on Friday, July 17th. Weiss Ratings raised KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, June 16th. Finally, UBS Group boosted their price target on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, KKR & Co. Inc. presently has an average rating of “Moderate Buy” and an average target price of $127.75.

KKR & Co. Inc. Stock Performance

Shares of KKR opened at $107.21 on Wednesday. KKR & Co. Inc. has a 1 year low of $82.67 and a 1 year high of $152.10. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.09 and a quick ratio of 0.09. The stock’s fifty day moving average price is $99.30 and its two-hundred day moving average price is $97.63. The firm has a market cap of $96.24 billion, a PE ratio of 34.14, a PEG ratio of 0.97 and a beta of 1.78.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings data on Thursday, July 30th. The asset manager reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.20. KKR & Co. Inc. had a return on equity of 5.88% and a net margin of 14.41%.The company had revenue of $5.73 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same quarter last year, the firm posted $1.18 EPS. On average, equities research analysts forecast that KKR & Co. Inc. will post 5.68 EPS for the current year.

KKR & Co. Inc. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Monday, August 10th will be paid a $0.195 dividend. The ex-dividend date is Monday, August 10th. This represents a $0.78 annualized dividend and a dividend yield of 0.7%. KKR & Co. Inc.’s dividend payout ratio (DPR) is presently 24.84%.

KKR & Co. Inc. declared that its board has approved a stock buyback program on Tuesday, May 5th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the asset manager to purchase up to 0.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management 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.