KKR & Co. Inc. $KKR Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System trimmed its holdings in KKR & Co. Inc. (NYSE:KKR) by 2.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 902,674 shares of the asset manager’s stock after selling 23,218 shares during the quarter. California State Teachers Retirement System’s holdings in KKR & Co. Inc. were worth $83,497,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of KKR & Co. Inc. by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 60,064,587 shares of the asset manager’s stock worth $7,657,034,000 after purchasing an additional 821,739 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in KKR & Co. Inc. by 6.9% during the first quarter. Principal Financial Group Inc. now owns 19,507,741 shares of the asset manager’s stock worth $1,804,470,000 after buying an additional 1,261,314 shares in the last quarter. Geode Capital Management LLC boosted its holdings in KKR & Co. Inc. by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 14,995,742 shares of the asset manager’s stock worth $1,903,220,000 after buying an additional 146,285 shares in the last quarter. Norges Bank acquired a new position in KKR & Co. Inc. in the fourth quarter worth approximately $1,715,929,000. Finally, First Manhattan CO. LLC. increased its holdings in shares of KKR & Co. Inc. by 0.8% in the fourth quarter. First Manhattan CO. LLC. now owns 8,597,044 shares of the asset manager’s stock valued at $1,095,951,000 after buying an additional 67,441 shares in the last quarter. Institutional investors own 76.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on KKR shares. HSBC lifted their target price on KKR & Co. Inc. from $118.00 to $121.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Morgan Stanley cut their price objective on KKR & Co. Inc. from $153.00 to $147.00 and set an “overweight” rating on the stock in a report on Tuesday, July 21st. Weiss Ratings raised shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, June 16th. 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 report on Tuesday, April 7th. Finally, The Goldman Sachs Group dropped their target price on shares of KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, KKR & Co. Inc. has a consensus rating of “Moderate Buy” and a consensus price target of $128.08.

KKR & Co. Inc. Stock Performance

KKR stock opened at $99.31 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.08 and a current ratio of 0.08. The stock has a market cap of $89.17 billion, a P/E ratio of 33.78, a P/E/G ratio of 0.87 and a beta of 1.79. The firm has a 50 day simple moving average of $95.71 and a 200 day simple moving average of $99.52. KKR & Co. Inc. has a 52 week low of $82.67 and a 52 week high of $153.50.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings data on Tuesday, May 5th. The asset manager reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.13. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the prior year, the business earned $1.15 EPS. The company’s revenue for the quarter was up 38.8% compared to the same quarter last year. Research analysts anticipate that KKR & Co. Inc. will post 5.54 earnings per share 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. Stockholders of record on Friday, May 15th were paid a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a dividend 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 dividend payout ratio (DPR) is currently 26.53%.

KKR & Co. Inc. announced that its Board of Directors has initiated a stock buyback plan 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 stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

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.