Principal Financial Group Inc. Buys 1,261,314 Shares of KKR & Co. Inc. $KKR

Principal Financial Group Inc. raised its stake in KKR & Co. Inc. (NYSE:KKR) by 6.9% during the 1st quarter, Holdings Channel reports. The fund owned 19,507,741 shares of the asset manager’s stock after acquiring an additional 1,261,314 shares during the period. KKR & Co. Inc. makes up about 1.0% of Principal Financial Group Inc.’s investment portfolio, making the stock its 17th largest position. Principal Financial Group Inc.’s holdings in KKR & Co. Inc. were worth $1,804,470,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Asset Dedication LLC bought a new position in shares of KKR & Co. Inc. during the third quarter worth approximately $26,000. Washington Trust Advisors Inc. bought a new stake in KKR & Co. Inc. in the 4th quarter valued at $27,000. Elyxium Wealth LLC bought a new stake in KKR & Co. Inc. in the 4th quarter valued at $27,000. SouthState Bank Corp grew its holdings in KKR & Co. Inc. by 185.0% in the 4th quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock valued at $29,000 after buying an additional 148 shares in the last quarter. Finally, Garton & Associates Financial Advisors LLC acquired a new position in KKR & Co. Inc. in the 4th quarter valued at $29,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on KKR. Morgan Stanley lowered their price objective on KKR & Co. Inc. from $177.00 to $153.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. BMO Capital Markets decreased their price target on shares of KKR & Co. Inc. from $120.00 to $112.00 and set an “outperform” rating on the stock in a research note on Monday. Weiss Ratings raised shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, June 16th. The Goldman Sachs Group dropped their price objective on shares of KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. Finally, TD Cowen cut 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 report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $130.58.

KKR & Co. Inc. Price Performance

KKR & Co. Inc. stock opened at $97.08 on Tuesday. The stock’s fifty day moving average price is $95.54 and its two-hundred day moving average price is $102.18. KKR & Co. Inc. has a one year low of $82.67 and a one year high of $153.87. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a market cap of $87.17 billion, a PE ratio of 33.02, a price-to-earnings-growth ratio of 0.82 and a beta of 1.79.

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 firm had revenue of $5.74 billion during 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 expect that KKR & Co. Inc. will post 5.55 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

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

KKR & Co. Inc. announced that its Board of Directors has initiated a share repurchase program on Tuesday, May 5th that permits the company to buyback $500.00 million in outstanding 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 a sign that the company’s leadership believes its stock is undervalued.

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.