KKR & Co. Inc. (NYSE:KKR) Given New $147.00 Price Target at Morgan Stanley

KKR & Co. Inc. (NYSE:KKR) had its price objective reduced by Morgan Stanley from $153.00 to $147.00 in a research report report published on Tuesday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the asset manager’s stock.

A number of other brokerages have also commented on KKR. TD Cowen reduced their target price 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. Piper Sandler lowered their price target on KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. Oppenheimer dropped their price objective on KKR & Co. Inc. from $143.00 to $139.00 and set an “outperform” rating on the stock in a research note on Friday, July 17th. HSBC raised their price objective on KKR & Co. Inc. from $118.00 to $121.00 and gave the stock a “buy” rating in a report on Monday. Finally, BMO Capital Markets lowered their target price on KKR & Co. Inc. from $120.00 to $112.00 and set an “outperform” rating for the company in a report on Monday, July 13th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $128.08.

KKR & Co. Inc. Trading Up 0.1%

NYSE KKR opened at $97.04 on Tuesday. The stock has a market cap of $87.13 billion, a PE ratio of 33.01, a PEG ratio of 0.82 and a beta of 1.79. KKR & Co. Inc. has a 12 month low of $82.67 and a 12 month high of $153.87. The company’s 50-day moving average price is $95.37 and its 200-day moving average price is $100.90. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.70.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings data on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. The company 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%. Equities research analysts forecast that KKR & Co. Inc. will post 5.54 earnings per share for the current year.

KKR & Co. Inc. announced that its Board of Directors has authorized a stock repurchase program on Tuesday, May 5th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the asset manager to buy up to 0.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are 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 $0.195 dividend. The ex-dividend date was Friday, May 15th. This represents a $0.78 annualized dividend 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 dividend payout ratio (DPR) is presently 26.53%.

Insider Activity

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

Institutional Trading of KKR & Co. Inc.

Hedge funds have recently bought and sold shares of the stock. Brighton Jones LLC increased its holdings in shares of KKR & Co. Inc. by 109.6% in the 4th quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager’s stock valued at $689,000 after acquiring an additional 2,437 shares during the period. Bison Wealth LLC purchased a new stake in shares of KKR & Co. Inc. during the 4th quarter worth $218,000. Sivia Capital Partners LLC boosted its position in KKR & Co. Inc. by 13.1% during the second quarter. Sivia Capital Partners LLC now owns 2,050 shares of the asset manager’s stock valued at $273,000 after purchasing an additional 237 shares in the last quarter. United Bank bought a new stake in KKR & Co. Inc. during the second quarter valued at about $769,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in KKR & Co. Inc. in the second quarter valued at about $4,826,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Company 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.