KKR & Co. Inc. (NYSE:KKR) Price Target Raised to $121.00

KKR & Co. Inc. (NYSE:KKR) had its price objective raised by HSBC from $118.00 to $121.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a buy rating on the asset manager’s stock.

A number of other brokerages also recently issued reports on KKR. The Goldman Sachs Group cut their target price on KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. UBS Group boosted their price target on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Weiss Ratings raised shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, June 16th. TD Cowen cut their price objective on shares of 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, Zacks Research upgraded shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $128.08.

KKR & Co. Inc. Price Performance

KKR stock opened at $95.66 on Monday. KKR & Co. Inc. has a 1 year low of $82.67 and a 1 year high of $153.87. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a market capitalization of $85.89 billion, a PE ratio of 32.54, a price-to-earnings-growth ratio of 0.82 and a beta of 1.79. The business has a 50 day simple moving average of $95.33 and a 200-day simple moving average of $100.68.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings data on Friday, February 27th. The asset manager reported $1.24 EPS for the quarter. The firm had revenue of $5.74 billion for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%. Equities research analysts anticipate that KKR & Co. Inc. will post 5.54 earnings per share for the current fiscal year.

KKR & Co. Inc. announced that its board has initiated a stock repurchase program on Tuesday, May 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the asset manager to buy up to 0.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership 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. Shareholders of record on Friday, May 15th were paid a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 0.8%. This is a positive change from KKR & Co. Inc.’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, May 15th. KKR & Co. Inc.’s payout ratio is 26.53%.

Insider Buying and Selling

In other news, EVP Yael Cosset sold 30,000 shares of the company’s stock in a transaction on Tuesday, July 14th. The stock was sold at an average price of $58.80, for a total value of $1,764,000.00. Following the transaction, the executive vice president owned 127,868 shares of the company’s stock, valued at $7,518,638.40. This represents a 19.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 23.20% of the stock is owned by corporate insiders.

Institutional Trading of KKR & Co. Inc.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Hudson Value Partners LLC raised its holdings in KKR & Co. Inc. by 4.6% in the 2nd quarter. Hudson Value Partners LLC now owns 9,655 shares of the asset manager’s stock valued at $886,000 after buying an additional 425 shares during the period. Tema ETFs LLC boosted its stake in KKR & Co. Inc. by 5.4% during the second quarter. Tema ETFs LLC now owns 13,909 shares of the asset manager’s stock worth $1,277,000 after buying an additional 712 shares during the period. Canvas Wealth Advisors LLC boosted its stake in KKR & Co. Inc. by 4.5% during the second quarter. Canvas Wealth Advisors LLC now owns 4,538 shares of the asset manager’s stock worth $416,000 after buying an additional 196 shares during the period. Handelsbanken Fonder AB increased its position in shares of KKR & Co. Inc. by 22.3% during the second quarter. Handelsbanken Fonder AB now owns 331,880 shares of the asset manager’s stock valued at $30,460,000 after acquiring an additional 60,571 shares during the last quarter. Finally, Fulton Bank N.A. increased its position in shares of KKR & Co. Inc. by 1.1% during the second quarter. Fulton Bank N.A. now owns 16,231 shares of the asset manager’s stock valued at $1,490,000 after acquiring an additional 179 shares during the last quarter. 76.26% of the stock is owned by institutional investors and hedge funds.

About KKR & Co. Inc.

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.