Oppenheimer Issues Pessimistic Forecast for KKR & Co. Inc. (NYSE:KKR) Stock Price

KKR & Co. Inc. (NYSE:KKR) had its price objective lowered by equities researchers at Oppenheimer from $187.00 to $140.00 in a report released on Monday,Benzinga reports. The firm presently has an “outperform” rating on the asset manager’s stock. Oppenheimer’s target price would suggest a potential upside of 44.40% from the stock’s current price.

Other research analysts have also issued reports about the company. Barclays cut their price objective on KKR & Co. Inc. from $136.00 to $127.00 and set an “overweight” rating on the stock in a research report on Monday, March 2nd. TD Cowen lowered KKR & Co. Inc. from a “buy” rating to a “hold” rating and cut their price objective for the company from $146.00 to $131.00 in a research report on Wednesday, January 14th. UBS Group cut their price objective on KKR & Co. Inc. from $168.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Wall Street Zen raised KKR & Co. Inc. from a “sell” rating to a “hold” rating in a research report on Sunday, January 25th. Finally, HSBC raised KKR & Co. Inc. from a “hold” rating to a “buy” rating and set a $144.00 target price on the stock in a research report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned 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 a consensus price target of $138.07.

KKR & Co. Inc. Stock Up 6.3%

NYSE:KKR traded up $5.73 during mid-day trading on Monday, hitting $96.95. The company had a trading volume of 1,630,698 shares, compared to its average volume of 7,341,340. The business has a fifty day simple moving average of $94.70 and a 200-day simple moving average of $114.56. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.69. KKR & Co. Inc. has a 1 year low of $82.67 and a 1 year high of $153.87. The firm has a market capitalization of $86.44 billion, a price-to-earnings ratio of 41.03, a PEG ratio of 0.75 and a beta of 1.93.

Insiders Place Their Bets

In other news, CEO Scott C. Nuttall purchased 125,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was acquired at an average cost of $102.66 per share, for a total transaction of $12,832,500.00. Following the completion of the purchase, the chief executive officer owned 15,503,748 shares of the company’s stock, valued at approximately $1,591,614,769.68. This trade represents a 0.81% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy R. Barakett purchased 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was purchased at an average price of $94.47 per share, with a total value of $4,723,500.00. Following the completion of the purchase, the director directly owned 285,000 shares of the company’s stock, valued at approximately $26,923,950. This represents a 21.28% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 393,872 shares of company stock valued at $40,090,679 in the last three months. 23.20% of the stock is owned by insiders.

Hedge Funds Weigh In On KKR & Co. Inc.

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in KKR & Co. Inc. by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 60,064,587 shares of the asset manager’s stock worth $7,657,034,000 after purchasing an additional 821,739 shares in the last quarter. Geode Capital Management LLC grew its stake in KKR & Co. Inc. by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 14,995,742 shares of the asset manager’s stock worth $1,903,220,000 after purchasing an additional 146,285 shares in the last quarter. Norges Bank acquired a new position in KKR & Co. Inc. in the fourth quarter worth about $1,715,929,000. First Manhattan CO. LLC. grew 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 worth $1,095,951,000 after purchasing an additional 67,441 shares in the last quarter. Finally, Capital Research Global Investors grew 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 worth $714,195,000 after purchasing an additional 23,483 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

KKR & Co. Inc. Company 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.