Sumitomo Life Insurance Co. Invests $2.35 Million in KKR & Co. Inc. $KKR

Sumitomo Life Insurance Co. bought a new position in shares of KKR & Co. Inc. (NYSE:KKR) in the 2nd quarter, Holdings Channel reports. The fund bought 25,600 shares of the asset manager’s stock, valued at approximately $2,350,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Washington Trust Advisors Inc. acquired a new stake in KKR & Co. Inc. during the fourth quarter worth approximately $27,000. Elyxium Wealth LLC acquired a new position in shares of KKR & Co. Inc. in the fourth quarter valued at approximately $27,000. SouthState Bank Corp grew its position in shares of KKR & Co. Inc. by 185.0% in the fourth quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 148 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in shares of KKR & Co. Inc. in the fourth quarter valued at approximately $29,000. Finally, MV Capital Management Inc. bought a new position in shares of KKR & Co. Inc. during the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. BMO Capital Markets lifted their price target on KKR & Co. Inc. from $112.00 to $118.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. UBS Group upped their price objective on KKR & Co. Inc. from $113.00 to $126.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Argus increased their price objective on KKR & Co. Inc. from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Barclays increased their price objective 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. Finally, Royal Bank Of Canada lifted their target price on KKR & Co. Inc. from $125.00 to $134.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, KKR & Co. Inc. presently has an average rating of “Moderate Buy” and a consensus price target of $127.75.

KKR & Co. Inc. Stock Performance

Shares of NYSE:KKR opened at $108.59 on Friday. KKR & Co. Inc. has a 12-month low of $82.67 and a 12-month high of $152.10. The company’s 50 day moving average price is $100.09 and its two-hundred day moving average price is $97.62. The firm has a market cap of $97.47 billion, a PE ratio of 34.58, a PEG ratio of 0.91 and a beta of 1.78. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.71.

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

KKR & Co. Inc. Announces Dividend

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

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