Elevation Point Wealth Partners LLC Takes Position in KKR & Co. Inc. $KKR

Elevation Point Wealth Partners LLC acquired a new stake in KKR & Co. Inc. (NYSE:KKR) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 8,077 shares of the asset manager’s stock, valued at approximately $741,000.

Other large investors have also bought and sold shares of the company. Brighton Jones LLC grew its holdings in shares of KKR & Co. Inc. by 109.6% during the fourth quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager’s stock worth $689,000 after buying an additional 2,437 shares in the last quarter. Bison Wealth LLC acquired a new position in shares of KKR & Co. Inc. during the 4th quarter worth about $218,000. Sivia Capital Partners LLC increased its position in KKR & Co. Inc. by 13.1% during the second quarter. Sivia Capital Partners LLC now owns 2,050 shares of the asset manager’s stock worth $273,000 after buying an additional 237 shares during the last quarter. United Bank acquired a new stake in KKR & Co. Inc. during the 2nd quarter valued at $769,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of KKR & Co. Inc. during the 2nd quarter worth about $4,826,000. 76.26% of the stock is owned by institutional investors.

KKR & Co. Inc. Stock Down 1.1%

KKR stock opened at $107.29 on Tuesday. KKR & Co. Inc. has a 12 month low of $82.67 and a 12 month high of $152.10. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $96.31 billion, a P/E ratio of 34.17, a price-to-earnings-growth ratio of 0.92 and a beta of 1.78. The firm has a 50-day moving average price of $100.27 and a 200-day moving average price of $97.53.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings results on Thursday, July 30th. The asset manager reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.20. KKR & Co. Inc. had a net margin of 14.41% and a return on equity of 5.88%. The company had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the prior year, the business earned $1.18 earnings per share. As a group, equities research analysts anticipate that KKR & Co. Inc. will post 5.68 EPS for the current fiscal year.

KKR & Co. Inc. announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the asset manager to buy up to 0.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

KKR & Co. Inc. Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on KKR shares. Zacks Research upgraded KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. Royal Bank Of Canada raised their target price on shares of KKR & Co. Inc. from $125.00 to $134.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Weiss Ratings upgraded shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, June 16th. Keefe, Bruyette & Woods upgraded KKR & Co. Inc. to a “moderate buy” rating in a research note on Monday, July 20th. Finally, Barclays increased their price target on KKR & Co. Inc. from $124.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $127.75.

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.