Andra AP fonden Boosts Stock Holdings in KKR & Co. Inc. $KKR

Andra AP fonden raised its position in shares of KKR & Co. Inc. (NYSE:KKR) by 201.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,630 shares of the asset manager’s stock after acquiring an additional 38,530 shares during the quarter. Andra AP fonden’s holdings in KKR & Co. Inc. were worth $5,331,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Washington Trust Advisors Inc. purchased a new stake in shares of KKR & Co. Inc. during the fourth quarter worth $27,000. Elyxium Wealth LLC purchased a new position in shares of KKR & Co. Inc. in the fourth quarter worth about $27,000. SouthState Bank Corp lifted its stake in shares of KKR & Co. Inc. by 185.0% in the fourth quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock worth $29,000 after buying an additional 148 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in KKR & Co. Inc. during the fourth quarter worth about $29,000. Finally, MV Capital Management Inc. acquired a new position in KKR & Co. Inc. during the fourth quarter worth about $31,000. 76.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other KKR & Co. Inc. news, EVP Yael Cosset sold 30,000 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president owned 127,868 shares of the company’s stock, valued at $7,518,638.40. This trade represents a 19.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 23.20% of the stock is owned by insiders.

KKR & Co. Inc. Price Performance

KKR stock opened at $95.66 on Thursday. The business has a fifty day moving average of $95.33 and a two-hundred day moving average of $100.68. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.70. The stock has a market cap of $85.89 billion, a price-to-earnings ratio of 32.54, a price-to-earnings-growth ratio of 0.82 and a beta of 1.79. KKR & Co. Inc. has a 52-week low of $82.67 and a 52-week high of $153.87.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings results on Friday, February 27th. The asset manager reported $1.24 EPS for the quarter. The business had revenue of $5.74 billion for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%. As a group, research analysts anticipate that KKR & Co. Inc. will post 5.54 earnings per share for the current year.

KKR & Co. Inc. declared that its board has approved a stock repurchase program on Tuesday, May 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the asset manager to purchase up to 0.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

KKR & Co. Inc. Increases Dividend

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

Wall Street Analyst Weigh In

KKR has been the topic of a number of research reports. HSBC raised their target price on shares of KKR & Co. Inc. from $118.00 to $121.00 and gave the stock a “buy” rating in a research note on Monday. Zacks Research upgraded KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. Morgan Stanley cut their price target on KKR & Co. Inc. from $153.00 to $147.00 and set an “overweight” rating for the company in a report on Tuesday. TD Cowen reduced their price objective on 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. Finally, The Goldman Sachs Group lowered their price objective on KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, KKR & Co. Inc. has a consensus rating of “Moderate Buy” and an average price target of $128.08.

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.