Equitable Trust Co. Increases Position in KKR & Co. Inc. $KKR

Equitable Trust Co. lifted its stake in KKR & Co. Inc. (NYSE:KKR) by 33.9% in the 1st quarter, Holdings Channel reports. The firm owned 33,555 shares of the asset manager’s stock after purchasing an additional 8,496 shares during the quarter. Equitable Trust Co.’s holdings in KKR & Co. Inc. were worth $3,104,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in KKR. Asset Dedication LLC acquired a new position in KKR & Co. Inc. during the third quarter worth about $26,000. Washington Trust Advisors Inc. acquired a new stake in shares of KKR & Co. Inc. during the 4th quarter valued at approximately $27,000. Elyxium Wealth LLC acquired a new stake in shares of KKR & Co. Inc. during the 4th quarter valued at approximately $27,000. SouthState Bank Corp boosted its stake in shares of KKR & Co. Inc. by 185.0% during the 4th quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock worth $29,000 after acquiring an additional 148 shares in the last quarter. Finally, Garton & Associates Financial Advisors LLC purchased a new stake in shares of KKR & Co. Inc. during the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Stock Up 3.0%

Shares of NYSE KKR opened at $96.12 on Friday. The firm has a market cap of $86.31 billion, a P/E ratio of 32.69, a price-to-earnings-growth ratio of 0.81 and a beta of 1.79. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.08 and a current ratio of 0.08. KKR & Co. Inc. has a 1 year low of $82.67 and a 1 year high of $153.87. The firm’s 50 day moving average price is $95.73 and its 200 day moving average price is $102.67.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%.The company had revenue of $5.74 billion during the quarter. As a group, sell-side analysts anticipate that KKR & Co. Inc. will post 5.51 earnings per share for the current year.

KKR & Co. Inc. announced that its Board of Directors has initiated a share repurchase program on Tuesday, May 5th that allows the company to repurchase $500.00 million in outstanding 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. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a $0.195 dividend. The ex-dividend date was Friday, May 15th. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.18. This represents a $0.78 annualized dividend and a yield of 0.8%. KKR & Co. Inc.’s payout ratio is currently 26.53%.

Analysts Set New Price Targets

KKR has been the topic of a number of research reports. Oppenheimer lowered their price target on KKR & Co. Inc. from $187.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. Morgan Stanley decreased their target price on KKR & Co. Inc. from $177.00 to $153.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. Barclays lowered their target price on KKR & Co. Inc. from $127.00 to $122.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. TD Cowen dropped their price target on KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating for the company in a research report on Monday, May 18th. Finally, Piper Sandler cut 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. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $133.43.

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.