VELA Investment Management LLC Boosts Stake in KKR & Co. Inc. $KKR

VELA Investment Management LLC lifted its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 381.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 6,310 shares of the asset manager’s stock after purchasing an additional 5,000 shares during the quarter. VELA Investment Management LLC’s holdings in KKR & Co. Inc. were worth $579,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in KKR. Norges Bank acquired a new position in shares of KKR & Co. Inc. in the 4th quarter valued at $1,715,929,000. Legal & General Group Plc acquired a new stake in KKR & Co. Inc. during the 2nd quarter worth about $470,778,000. Bank of New York Mellon Corp acquired a new stake in KKR & Co. Inc. during the 2nd quarter worth about $298,311,000. Viking Global Investors LP purchased a new stake in KKR & Co. Inc. during the 3rd quarter valued at about $352,038,000. Finally, Temasek Holdings Private Ltd grew its stake in KKR & Co. Inc. by 164.4% during the 1st quarter. Temasek Holdings Private Ltd now owns 3,522,797 shares of the asset manager’s stock valued at $325,859,000 after purchasing an additional 2,190,248 shares during the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KKR has been the topic of a number of research reports. Morgan Stanley cut their price objective on KKR & Co. Inc. from $153.00 to $147.00 and set an “overweight” rating on the stock in a report on Tuesday, July 21st. Argus lifted their target price on KKR & Co. Inc. from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. BMO Capital Markets upped their target price on KKR & Co. Inc. from $112.00 to $118.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. TD Cowen increased their price target on shares of KKR & Co. Inc. from $108.00 to $111.00 and gave the stock a “hold” rating in a report on Monday, August 3rd. Finally, Royal Bank Of Canada raised their price target on shares of KKR & Co. Inc. from $125.00 to $134.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.00.

Insiders Place Their Bets

In related news, insider Dane E. Holmes sold 10,000 shares of KKR & Co. Inc. stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $108.58, for a total transaction of $1,085,800.00. Following the completion of the transaction, the insider directly owned 8,513 shares in the company, valued at approximately $924,341.54. This trade represents a 54.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 23.20% of the company’s stock.

KKR & Co. Inc. Price Performance

NYSE:KKR opened at $107.81 on Tuesday. The firm’s fifty day moving average is $103.05 and its two-hundred day moving average is $97.88. The firm has a market cap of $96.77 billion, a price-to-earnings ratio of 34.33, a PEG ratio of 1.01 and a beta of 1.79. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.09 and a current ratio of 0.09. KKR & Co. Inc. has a one year low of $82.67 and a one year high of $152.10.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings data 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 business had revenue of $5.73 billion during the quarter, compared to analyst estimates of $2.55 billion. KKR & Co. Inc. had a return on equity of 5.88% and a net margin of 14.41%.During the same quarter last year, the business posted $1.18 EPS. Research analysts expect that KKR & Co. Inc. will post 5.66 EPS for the current year.

KKR & Co. Inc. Dividend Announcement

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

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.