ProShare Advisors LLC Acquires 7,076 Shares of KKR & Co. Inc. $KKR

ProShare Advisors LLC raised its holdings in KKR & Co. Inc. (NYSE:KKR) by 5.1% during the fourth quarter, HoldingsChannel reports. The firm owned 144,601 shares of the asset manager’s stock after acquiring an additional 7,076 shares during the quarter. ProShare Advisors LLC’s holdings in KKR & Co. Inc. were worth $18,434,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SteelPeak Wealth LLC lifted its position in shares of KKR & Co. Inc. by 3.2% during the 4th quarter. SteelPeak Wealth LLC now owns 2,549 shares of the asset manager’s stock worth $325,000 after buying an additional 80 shares during the last quarter. Diversified Trust Co. grew its position in KKR & Co. Inc. by 1.5% in the fourth quarter. Diversified Trust Co. now owns 5,562 shares of the asset manager’s stock valued at $709,000 after acquiring an additional 82 shares during the last quarter. Modera Wealth Management LLC grew its position in KKR & Co. Inc. by 4.9% in the fourth quarter. Modera Wealth Management LLC now owns 1,789 shares of the asset manager’s stock valued at $228,000 after acquiring an additional 84 shares during the last quarter. Sound Income Strategies LLC raised its stake 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 acquiring an additional 90 shares in the last quarter. Finally, Cornerstone Advisory LLC lifted its holdings in shares of KKR & Co. Inc. by 3.0% in the third quarter. Cornerstone Advisory LLC now owns 3,189 shares of the asset manager’s stock worth $414,000 after acquiring an additional 92 shares during the last quarter. Institutional investors own 76.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Oppenheimer reduced their price target on shares of KKR & Co. Inc. from $187.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday, April 13th. TD Cowen dropped their price objective on shares of KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating for the company in a research note on Monday. Zacks Research lowered shares of KKR & Co. Inc. from a “hold” rating to a “strong sell” rating in a research report on Monday, April 13th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of KKR & Co. Inc. in a research note on Monday, May 4th. Finally, Piper Sandler lowered their price target on shares of KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, KKR & Co. Inc. presently has an average rating of “Moderate Buy” and a consensus price target of $134.53.

KKR & Co. Inc. Stock Performance

NYSE:KKR opened at $94.37 on Thursday. The stock’s 50-day moving average is $95.46 and its 200-day moving average is $110.25. KKR & Co. Inc. has a 1-year low of $82.67 and a 1-year high of $153.87. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.70. The stock has a market cap of $84.73 billion, a P/E ratio of 32.10, a price-to-earnings-growth ratio of 0.82 and a beta of 1.85.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings data on Friday, February 27th. The asset manager reported $1.24 earnings per share (EPS) for the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. The business had revenue of $5.74 billion during the quarter. Equities research analysts anticipate that KKR & Co. Inc. will post 5.46 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be paid a dividend of $0.195 per share. The ex-dividend date of this dividend is Friday, May 15th. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.19. This represents a $0.78 annualized dividend and a dividend yield of 0.8%. KKR & Co. Inc.’s payout ratio is 26.53%.

KKR & Co. Inc. declared that its Board of Directors has initiated a stock buyback program on Tuesday, May 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the asset manager to repurchase up to 0.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at KKR & Co. Inc.

In other KKR & Co. Inc. news, Director Timothy R. Barakett purchased 50,000 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were bought at an average price of $94.47 per share, for a total transaction of $4,723,500.00. Following the completion of the acquisition, the director owned 285,000 shares in the company, valued at approximately $26,923,950. This trade represents a 21.28% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 23.20% of the company’s stock.

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.