State of New Jersey Common Pension Fund D Increases Stock Holdings in KKR & Co. Inc. $KKR

State of New Jersey Common Pension Fund D raised its position in KKR & Co. Inc. (NYSE:KKR) by 4.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 220,407 shares of the asset manager’s stock after buying an additional 9,083 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in KKR & Co. Inc. were worth $28,642,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in KKR. Covenant Asset Management LLC grew its position in shares of KKR & Co. Inc. by 1,424.8% in the 3rd quarter. Covenant Asset Management LLC now owns 29,826 shares of the asset manager’s stock worth $3,876,000 after acquiring an additional 27,870 shares in the last quarter. Allen Investment Management LLC lifted its stake in KKR & Co. Inc. by 165.0% during the third quarter. Allen Investment Management LLC now owns 247,375 shares of the asset manager’s stock worth $32,146,000 after purchasing an additional 154,009 shares during the last quarter. Stonegate Investment Group LLC acquired a new position in KKR & Co. Inc. in the third quarter worth $6,219,000. Generali Asset Management SPA SGR boosted its holdings in KKR & Co. Inc. by 132.5% in the third quarter. Generali Asset Management SPA SGR now owns 37,323 shares of the asset manager’s stock worth $4,850,000 after purchasing an additional 21,270 shares during the period. Finally, First Interstate Bank bought a new stake in KKR & Co. Inc. during the second quarter valued at $3,115,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

KKR & Co. Inc. Stock Up 0.5%

KKR opened at $101.64 on Monday. The stock’s 50 day moving average price is $124.51 and its 200 day moving average price is $128.60. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a market cap of $90.60 billion, a P/E ratio of 43.44, a P/E/G ratio of 0.79 and a beta of 1.99. KKR & Co. Inc. has a 12 month low of $86.15 and a 12 month high of $153.87.

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

KKR & Co. Inc. Announces Dividend

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

Insiders Place Their Bets

In other news, Director Timothy R. Barakett purchased 50,000 shares of the stock in a transaction dated Monday, February 9th. The shares were bought at an average cost of $104.93 per share, for a total transaction of $5,246,500.00. Following the transaction, the director owned 235,000 shares in the company, valued at $24,658,550. This trade represents a 27.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 39.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on KKR. TD Cowen lowered shares of KKR & Co. Inc. from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $146.00 to $131.00 in a research note on Wednesday, January 14th. Wall Street Zen raised KKR & Co. Inc. from a “sell” rating to a “hold” rating in a report on Sunday, January 25th. Morgan Stanley cut their price target 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. Barclays reduced their price objective on KKR & Co. Inc. from $159.00 to $136.00 and set an “overweight” rating for the company in a research report on Friday, February 6th. Finally, HSBC raised KKR & Co. Inc. from a “hold” rating to a “buy” rating and set a $144.00 target price on the stock in a research report on Wednesday, January 28th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, KKR & Co. Inc. has a consensus rating of “Moderate Buy” and a consensus price target of $156.57.

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.