KKR & Co. Inc. $KKR Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its position in shares of KKR & Co. Inc. (NYSE:KKR) by 5.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,319,916 shares of the asset manager’s stock after selling 69,637 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.15% of KKR & Co. Inc. worth $122,092,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Border to Coast Pensions Partnership Ltd raised its position in KKR & Co. Inc. by 14.5% during the first quarter. Border to Coast Pensions Partnership Ltd now owns 435,000 shares of the asset manager’s stock valued at $40,361,000 after buying an additional 55,000 shares during the period. Employees Retirement System of Texas grew its stake in KKR & Co. Inc. by 54.9% during the 3rd quarter. Employees Retirement System of Texas now owns 540,300 shares of the asset manager’s stock valued at $70,212,000 after acquiring an additional 191,600 shares in the last quarter. Prana Capital Management LP grew its stake in KKR & Co. Inc. by 291.4% during the 3rd quarter. Prana Capital Management LP now owns 584,911 shares of the asset manager’s stock valued at $76,009,000 after acquiring an additional 435,475 shares in the last quarter. Third View Private Wealth LLC purchased a new position in KKR & Co. Inc. during the 4th quarter valued at about $3,126,000. Finally, Lighthouse Investment Partners LLC increased its holdings in shares of KKR & Co. Inc. by 146.4% in the 3rd quarter. Lighthouse Investment Partners LLC now owns 94,661 shares of the asset manager’s stock valued at $12,301,000 after purchasing an additional 56,244 shares during the period. 76.26% of the stock is currently owned by institutional investors and hedge funds.

KKR & Co. Inc. Stock Up 0.7%

NYSE:KKR traded up $0.68 during mid-day trading on Friday, reaching $96.95. The stock had a trading volume of 2,839,186 shares, compared to its average volume of 4,302,104. The stock has a market cap of $87.05 billion, a P/E ratio of 32.98, a PEG ratio of 0.83 and a beta of 1.79. The business’s 50 day moving average is $95.69 and its 200 day moving average is $102.63. 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 fifty-two week low of $82.67 and a fifty-two week high of $153.87.

KKR & Co. Inc. (NYSE:KKR) last posted its earnings results 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 firm had revenue of $5.74 billion during the quarter. As a group, sell-side analysts predict that KKR & Co. Inc. will post 5.51 earnings per share for the current year.

KKR & Co. Inc. announced that its board has initiated a stock buyback program on Tuesday, May 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits 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 management believes its shares are undervalued.

KKR & Co. Inc. Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on KKR. Morgan Stanley reduced their price target on shares of KKR & Co. Inc. from $177.00 to $153.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. Barclays boosted their price objective on shares of KKR & Co. Inc. from $122.00 to $124.00 and gave the company an “overweight” rating in a research report on Friday. The Goldman Sachs Group cut their target price on shares of 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. Piper Sandler decreased their target price on shares of KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating for the company in a research note on Tuesday, April 7th. Finally, Oppenheimer lowered 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 report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $131.85.

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.