ABC Arbitrage SA Acquires New Stake in KKR & Co. Inc. $KKR

ABC Arbitrage SA purchased a new position in shares of KKR & Co. Inc. (NYSE:KKR) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 26,385 shares of the asset manager’s stock, valued at approximately $3,429,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Waterway Wealth Management LLC lifted its holdings in shares of KKR & Co. Inc. by 43.3% during the 3rd quarter. Waterway Wealth Management LLC now owns 10,788 shares of the asset manager’s stock worth $1,402,000 after acquiring an additional 3,258 shares during the period. First National Trust Co increased its position in KKR & Co. Inc. by 116.1% during the third quarter. First National Trust Co now owns 4,588 shares of the asset manager’s stock worth $596,000 after purchasing an additional 2,465 shares during the last quarter. Wealthfront Advisers LLC raised its stake in KKR & Co. Inc. by 1.2% during the third quarter. Wealthfront Advisers LLC now owns 54,743 shares of the asset manager’s stock worth $7,114,000 after purchasing an additional 662 shares during the period. Johnson Investment Counsel Inc. raised its stake in KKR & Co. Inc. by 16.1% during the third quarter. Johnson Investment Counsel Inc. now owns 4,997 shares of the asset manager’s stock worth $649,000 after purchasing an additional 692 shares during the period. Finally, Profund Advisors LLC boosted its holdings in shares of KKR & Co. Inc. by 11.4% in the 3rd quarter. Profund Advisors LLC now owns 9,387 shares of the asset manager’s stock valued at $1,220,000 after purchasing an additional 961 shares during the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KKR has been the topic of several research reports. UBS Group cut their target price on KKR & Co. Inc. from $176.00 to $168.00 and set a “buy” rating on the stock in a research report on Tuesday, January 13th. TD Cowen lowered KKR & Co. Inc. from a “buy” rating to a “hold” rating and dropped their price target for the stock from $146.00 to $131.00 in a research note on Wednesday, January 14th. Morgan Stanley cut their price objective on KKR & Co. Inc. from $170.00 to $166.00 and set an “overweight” rating on the stock in a report on Tuesday, October 21st. HSBC upgraded KKR & Co. Inc. from a “hold” rating to a “buy” rating and set a $144.00 target price for the company in a report on Wednesday, January 28th. Finally, Barclays cut their price target on shares of KKR & Co. Inc. from $159.00 to $136.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $156.57.

KKR & Co. Inc. Price Performance

Shares of KKR opened at $107.37 on Wednesday. KKR & Co. Inc. has a 52 week low of $86.15 and a 52 week high of $153.87. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.75. The firm has a market cap of $95.70 billion, a price-to-earnings ratio of 45.88, a PEG ratio of 0.92 and a beta of 1.99. The stock has a 50 day moving average of $126.04 and a 200-day moving average of $129.63.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings data on Thursday, February 5th. The asset manager reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The business had revenue of $5.93 billion for the quarter, compared to the consensus estimate of $2.23 billion. KKR & Co. Inc. had a net margin of 11.97% and a return on equity of 5.77%. KKR & Co. Inc.’s quarterly revenue was up 76.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.32 EPS. As a group, analysts forecast that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th will be given a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, February 17th. KKR & Co. Inc.’s dividend payout ratio is currently 31.62%.

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.