KKR & Co. Inc. (NYSE:KKR) Price Target Raised to $166.00

KKR & Co. Inc. (NYSE:KKR) had its price target increased by Oppenheimer from $139.00 to $166.00 in a research report report published on Thursday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the asset manager’s stock.

KKR has been the topic of a number of other research reports. Zacks Research raised KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. Argus lifted their price objective on KKR & Co. Inc. from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Weiss Ratings raised KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, June 16th. Morgan Stanley dropped their price objective on KKR & Co. Inc. from $153.00 to $147.00 and set an “overweight” rating for the company in a report on Tuesday, July 21st. Finally, Barclays raised their target price on KKR & Co. Inc. from $124.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, KKR & Co. Inc. has an average rating of “Moderate Buy” and an average target price of $130.00.

KKR & Co. Inc. Stock Down 0.5%

Shares of NYSE:KKR opened at $108.74 on Thursday. KKR & Co. Inc. has a one year low of $82.67 and a one year high of $152.10. The company has a 50 day moving average of $101.16 and a 200-day moving average of $97.74. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a market cap of $97.61 billion, a price-to-earnings ratio of 34.63, a P/E/G ratio of 0.92 and a beta of 1.78.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings data on Thursday, July 30th. The asset manager reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.20. KKR & Co. Inc. had a net margin of 14.41% and a return on equity of 5.88%. The business had revenue of $5.73 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period in the prior year, the business posted $1.18 earnings per share. On average, sell-side analysts forecast that KKR & Co. Inc. will post 5.68 earnings per share for the current year.

KKR & Co. Inc. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Monday, August 10th were issued a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a dividend 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 authorized a stock repurchase plan 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 plans are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Washington Trust Advisors Inc. bought a new stake in KKR & Co. Inc. during the 4th quarter worth approximately $27,000. Elyxium Wealth LLC bought a new position in shares of KKR & Co. Inc. during the fourth quarter valued at $27,000. SouthState Bank Corp raised its stake in shares of KKR & Co. Inc. by 185.0% during the fourth quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 148 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in shares of KKR & Co. Inc. during the fourth quarter worth $29,000. Finally, MV Capital Management Inc. acquired a new position in shares of KKR & Co. Inc. during the fourth quarter worth $31,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

KKR & Co. Inc. News Roundup

Here are the key news stories impacting KKR & Co. Inc. this week:

• Positive Sentiment: Strong analyst price-target increase: Oppenheimer raised its KKR price target from $139 to $166 and reiterated an “outperform” rating, implying substantial upside from recent levels. Benzinga analyst rating report
• Positive Sentiment: Expansion in private aviation infrastructure: Apollo-managed funds acquired a significant interest in Atlantic Aviation, while KKR-managed funds remain a substantial shareholder. The partnership could support Atlantic Aviation’s growth and preserve KKR’s exposure to a potentially attractive infrastructure platform. Apollo Funds and KKR Announce Strategic Partnership
• Positive Sentiment: New infrastructure investment: KKR and Apollo are partnering with Enbridge on approximately C$2.7 billion of expansions to the Westcoast natural-gas pipeline system in British Columbia, expanding KKR’s exposure to energy infrastructure and long-term contracted assets. Enbridge, KKR form joint venture
• Positive Sentiment: AI data-center exposure: KKR is investing in SK Telecom’s newly launched SK Horizon, an AI data-center infrastructure company. The deal gives KKR participation in the expanding demand for data-center capacity and digital infrastructure. SK Horizon investment announcement
• Neutral Sentiment: Antitrust case resolution: KKR agreed to a stipulation and order with the U.S. Department of Justice, potentially removing some uncertainty, although the settlement also highlights ongoing regulatory and legal risks. KKR reaches settlement in DOJ antitrust case
• Neutral Sentiment: Fixed-income appeal: An analysis described KKR’s “baby bonds” as offering potential capital appreciation, but this is an investment view on the company’s debt securities rather than a direct earnings catalyst for common stock. KKR baby bonds analysis
• Negative Sentiment: Reported fraud investigation: A law firm is seeking KKR investors to participate in a fraud investigation, creating potential litigation, reputational, and financial risks. The notice does not establish wrongdoing, but it may weigh on sentiment. KKR investor fraud investigation notice

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.