AIA Group Ltd Raises Position in KKR & Co. Inc. $KKR

AIA Group Ltd lifted its position in shares of KKR & Co. Inc. (NYSE:KKR) by 61.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,833 shares of the asset manager’s stock after acquiring an additional 12,163 shares during the quarter. AIA Group Ltd’s holdings in KKR & Co. Inc. were worth $2,945,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. SteelPeak Wealth LLC increased its holdings in KKR & Co. Inc. by 3.2% in the fourth quarter. SteelPeak Wealth LLC now owns 2,549 shares of the asset manager’s stock valued at $325,000 after buying an additional 80 shares in the last quarter. Diversified Trust Co. increased its stake in KKR & Co. Inc. by 1.5% in the 4th quarter. Diversified Trust Co. now owns 5,562 shares of the asset manager’s stock valued at $709,000 after purchasing an additional 82 shares in the last quarter. Modera Wealth Management LLC raised its holdings in KKR & Co. Inc. by 4.9% during the fourth quarter. Modera Wealth Management LLC now owns 1,789 shares of the asset manager’s stock worth $228,000 after purchasing an additional 84 shares during the last quarter. Sound Income Strategies LLC boosted its position in KKR & Co. Inc. by 9.1% during the fourth quarter. Sound Income Strategies LLC now owns 1,084 shares of the asset manager’s stock worth $143,000 after purchasing an additional 90 shares in the last quarter. Finally, Praxis Investment Management Inc. grew its holdings in KKR & Co. Inc. by 0.9% in the fourth quarter. Praxis Investment Management Inc. now owns 10,006 shares of the asset manager’s stock valued at $1,276,000 after purchasing an additional 94 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

Insider Activity

In other KKR & Co. Inc. news, EVP Yael Cosset sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 14th. The stock was sold at an average price of $58.80, for a total transaction of $1,764,000.00. Following the completion of the sale, the executive vice president owned 127,868 shares of the company’s stock, valued at $7,518,638.40. This represents a 19.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 23.20% of the company’s stock.

KKR & Co. Inc. Price Performance

Shares of NYSE KKR opened at $100.94 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.08 and a quick ratio of 0.08. KKR & Co. Inc. has a 1-year low of $82.67 and a 1-year high of $153.87. The business has a 50-day moving average of $95.46 and a 200-day moving average of $101.34. The company has a market capitalization of $90.63 billion, a price-to-earnings ratio of 34.33, a PEG ratio of 0.84 and a beta of 1.79.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. The business had revenue of $5.74 billion during the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. On average, equities analysts anticipate that KKR & Co. Inc. will post 5.58 EPS for the current fiscal year.

KKR & Co. Inc. declared that its Board of Directors has approved a share repurchase plan on Tuesday, May 5th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the asset manager to purchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

KKR & Co. Inc. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were issued a dividend of $0.195 per share. The ex-dividend date was Friday, May 15th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.8%. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.18. KKR & Co. Inc.’s payout ratio is 26.53%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. TD Cowen lowered their price target on shares of KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating on the stock in a research report on Monday, May 18th. The Goldman Sachs Group dropped their price target on KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. BMO Capital Markets reduced their price objective on KKR & Co. Inc. from $120.00 to $112.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. Barclays lifted their price objective on KKR & Co. Inc. from $122.00 to $124.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. Finally, Morgan Stanley reduced their target price on shares of KKR & Co. Inc. from $177.00 to $153.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $130.50.

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.