Canada Pension Plan Investment Board Buys New Stake in KKR & Co. Inc. $KKR

Canada Pension Plan Investment Board bought a new stake in KKR & Co. Inc. (NYSE:KKR) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 956,842 shares of the asset manager’s stock, valued at approximately $87,819,000. Canada Pension Plan Investment Board owned approximately 0.11% of KKR & Co. Inc. as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. lifted its holdings in shares of KKR & Co. Inc. by 6.9% during the 1st quarter. Principal Financial Group Inc. now owns 19,507,741 shares of the asset manager’s stock valued at $1,804,470,000 after purchasing an additional 1,261,314 shares during the last quarter. Geode Capital Management LLC increased its position in KKR & Co. Inc. by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 14,995,742 shares of the asset manager’s stock valued at $1,903,220,000 after buying an additional 146,285 shares in the last quarter. Norges Bank acquired a new position in KKR & Co. Inc. during the 4th quarter valued at about $1,715,929,000. First Manhattan CO. LLC. raised its stake in KKR & Co. Inc. by 0.8% in the fourth quarter. First Manhattan CO. LLC. now owns 8,597,044 shares of the asset manager’s stock valued at $1,095,951,000 after buying an additional 67,441 shares during the last quarter. Finally, Capital Research Global Investors raised its stake in KKR & Co. Inc. by 0.4% in the fourth quarter. Capital Research Global Investors now owns 5,602,262 shares of the asset manager’s stock valued at $714,195,000 after buying an additional 23,483 shares during the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on KKR shares. Barclays raised their price target on KKR & Co. Inc. from $124.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Keefe, Bruyette & Woods raised shares of KKR & Co. Inc. to a “moderate buy” rating in a research report on Monday, July 20th. TD Cowen lifted their target price on shares of KKR & Co. Inc. from $108.00 to $111.00 and gave the stock a “hold” rating in a research note on Monday, August 3rd. Morgan Stanley dropped their target price on shares of KKR & Co. Inc. from $153.00 to $147.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 21st. Finally, Zacks Research upgraded shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $127.75.

KKR & Co. Inc. Stock Up 0.9%

Shares of KKR stock opened at $108.60 on Thursday. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $152.10. The firm has a market capitalization of $97.48 billion, a PE ratio of 34.59, a P/E/G ratio of 0.91 and a beta of 1.78. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.09 and a current ratio of 0.09. The stock’s 50-day simple moving average is $100.68 and its 200-day simple moving average is $97.62.

KKR & Co. Inc. (NYSE:KKR) last released its earnings results 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 firm had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $2.55 billion. KKR & Co. Inc. had a return on equity of 5.88% and a net margin of 14.41%.During the same quarter in the previous year, the company posted $1.18 earnings per share. Equities analysts expect that KKR & Co. Inc. will post 5.68 earnings per share for the current year.

KKR & Co. Inc. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Monday, August 10th were given a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Monday, August 10th. KKR & Co. Inc.’s dividend payout ratio (DPR) is currently 24.84%.

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