KKR & Co. Inc. (NYSE:KKR) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of KKR & Co. Inc. (NYSE:KKR) to a strong-buy rating in a research report released on Thursday morning,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on KKR. Piper Sandler initiated coverage on shares of KKR & Co. Inc. in a report on Monday, June 30th. They issued an “overweight” rating and a $150.00 price objective on the stock. Evercore ISI upped their price objective on shares of KKR & Co. Inc. from $130.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, July 10th. Barclays upped their price objective on shares of KKR & Co. Inc. from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, August 4th. HSBC cut shares of KKR & Co. Inc. from a “buy” rating to a “hold” rating and set a $142.00 price target on the stock. in a report on Wednesday, July 9th. Finally, JMP Securities reiterated a “market perform” rating and set a $150.00 price target on shares of KKR & Co. Inc. in a report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, KKR & Co. Inc. presently has an average rating of “Moderate Buy” and an average target price of $157.40.

KKR & Co. Inc. Price Performance

Shares of KKR opened at $127.51 on Thursday. The stock has a market cap of $113.61 billion, a PE ratio of 59.31, a price-to-earnings-growth ratio of 1.40 and a beta of 1.91. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.08 and a current ratio of 0.08. KKR & Co. Inc. has a fifty-two week low of $86.15 and a fifty-two week high of $170.40. The firm’s 50-day simple moving average is $140.96 and its two-hundred day simple moving average is $128.42.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings data on Thursday, July 31st. The asset manager reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.81 billion. KKR & Co. Inc. had a net margin of 12.95% and a return on equity of 6.30%. During the same quarter in the prior year, the company earned $1.09 earnings per share. Analysts anticipate that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 11th were issued a $0.185 dividend. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.18. This represents a $0.74 annualized dividend and a yield of 0.6%. The ex-dividend date was Monday, August 11th. KKR & Co. Inc.’s dividend payout ratio is 34.42%.

Insider Transactions at KKR & Co. Inc.

In related news, Chairman George R. Roberts sold 809,906 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $144.25, for a total value of $116,828,940.50. Following the sale, the chairman owned 81,361,978 shares in the company, valued at approximately $11,736,465,326.50. This trade represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 39.34% of the company’s stock.

Institutional Investors Weigh In On KKR & Co. Inc.

Several institutional investors and hedge funds have recently added to or reduced their stakes in KKR. Norges Bank purchased a new stake in KKR & Co. Inc. in the second quarter worth approximately $1,530,419,000. Nuveen LLC purchased a new stake in KKR & Co. Inc. in the first quarter worth approximately $844,137,000. Jennison Associates LLC boosted its holdings in KKR & Co. Inc. by 4,918.6% in the first quarter. Jennison Associates LLC now owns 4,393,841 shares of the asset manager’s stock worth $507,972,000 after purchasing an additional 4,306,290 shares during the last quarter. Amundi boosted its holdings in KKR & Co. Inc. by 114.2% in the first quarter. Amundi now owns 4,575,631 shares of the asset manager’s stock worth $528,989,000 after purchasing an additional 2,439,505 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in KKR & Co. Inc. by 14.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 19,081,760 shares of the asset manager’s stock worth $2,206,042,000 after acquiring an additional 2,391,434 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

About KKR & Co. Inc.

KKR & Co, Inc operates as an investment firm. It offers alternative asset management as well as capital markets and insurance solutions. The firm’s business segments include Asset Management and Insurance Business. The Asset Management segment engages in providing private equity, real assets, credit and liquid strategies, capital markets, and principal activities.