California Public Employees Retirement System Buys 59,451 Shares of KKR & Co. Inc. $KKR

California Public Employees Retirement System increased its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 5.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,204,842 shares of the asset manager’s stock after purchasing an additional 59,451 shares during the period. California Public Employees Retirement System owned 0.14% of KKR & Co. Inc. worth $156,569,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in KKR. Vanguard Group Inc. increased its position in shares of KKR & Co. Inc. by 1.0% during the third quarter. Vanguard Group Inc. now owns 59,242,848 shares of the asset manager’s stock valued at $7,698,608,000 after buying an additional 585,893 shares during the period. Norges Bank purchased a new stake in shares of KKR & Co. Inc. in the second quarter worth about $1,530,419,000. Lone Pine Capital LLC boosted its position in shares of KKR & Co. Inc. by 9.6% in the second quarter. Lone Pine Capital LLC now owns 5,221,769 shares of the asset manager’s stock valued at $694,652,000 after acquiring an additional 457,998 shares during the period. Legal & General Group Plc boosted its position in shares of KKR & Co. Inc. by 1.4% in the third quarter. Legal & General Group Plc now owns 4,642,005 shares of the asset manager’s stock valued at $603,229,000 after acquiring an additional 65,695 shares during the period. Finally, Strive Asset Management LLC purchased a new position in KKR & Co. Inc. during the third quarter valued at approximately $535,907,000. Institutional investors own 76.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on KKR shares. Wall Street Zen raised shares of KKR & Co. Inc. from a “sell” rating to a “hold” rating in a report on Sunday, January 25th. Oppenheimer cut their price target on shares of KKR & Co. Inc. from $190.00 to $187.00 and set an “outperform” rating for the company in a report on Friday, February 6th. Royal Bank Of Canada initiated coverage on shares of KKR & Co. Inc. in a report on Tuesday, February 24th. They issued an “outperform” rating and a $137.00 price target on the stock. UBS Group lowered their price objective on KKR & Co. Inc. from $168.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Finally, TD Cowen lowered KKR & Co. Inc. from a “buy” rating to a “hold” rating and dropped their price objective for the company from $146.00 to $131.00 in a research note on Wednesday, January 14th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $151.80.

Insider Buying and Selling

In related news, Director Matt Cohler acquired 43,872 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was purchased at an average price of $102.90 per share, with a total value of $4,514,428.80. Following the completion of the purchase, the director owned 45,477 shares in the company, valued at $4,679,583.30. This trade represents a 2,733.46% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy R. Barakett bought 50,000 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was purchased at an average price of $94.47 per share, for a total transaction of $4,723,500.00. Following the acquisition, the director directly owned 285,000 shares of the company’s stock, valued at approximately $26,923,950. The trade was a 21.28% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders bought 393,872 shares of company stock worth $40,090,679. 23.20% of the stock is owned by company insiders.

KKR & Co. Inc. Trading Up 2.5%

NYSE KKR opened at $85.97 on Monday. The firm has a market cap of $76.65 billion, a PE ratio of 36.74, a price-to-earnings-growth ratio of 0.63 and a beta of 2.01. KKR & Co. Inc. has a 1-year low of $82.67 and a 1-year high of $153.87. The stock has a 50-day moving average of $109.11 and a 200-day moving average of $121.75. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.69.

KKR & Co. Inc. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th were given a $0.185 dividend. The ex-dividend date was Tuesday, February 17th. This represents a $0.74 annualized dividend and a yield of 0.9%. KKR & Co. Inc.’s payout ratio is presently 31.62%.

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.