Royal Bank Of Canada Raises KKR & Co. Inc. (NYSE:KKR) Price Target to $134.00

KKR & Co. Inc. (NYSE:KKR) had its price objective raised by equities research analysts at Royal Bank Of Canada from $125.00 to $134.00 in a report released on Friday,Benzinga reports. The firm presently has an “outperform” rating on the asset manager’s stock. Royal Bank Of Canada’s price target indicates a potential upside of 32.56% from the stock’s previous close.

A number of other research firms also recently weighed in on KKR. HSBC upped their price target on KKR & Co. Inc. from $118.00 to $121.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Weiss Ratings upgraded shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, June 16th. Barclays lifted their price objective on shares of KKR & Co. Inc. from $124.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday. BMO Capital Markets dropped their price target on KKR & Co. Inc. from $120.00 to $112.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. Finally, Oppenheimer cut their price objective on shares of KKR & Co. Inc. from $143.00 to $139.00 and set an “outperform” rating for the company in a report on Friday, July 17th. 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 an average rating of “Moderate Buy” and a consensus price target of $129.75.

KKR & Co. Inc. Price Performance

Shares of KKR stock traded up $0.11 on Friday, reaching $101.09. The company had a trading volume of 3,939,684 shares, compared to its average volume of 5,907,579. KKR & Co. Inc. has a one year low of $82.67 and a one year high of $152.10. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $90.77 billion, a PE ratio of 34.39, a price-to-earnings-growth ratio of 0.84 and a beta of 1.79. The business’s 50-day moving average is $95.84 and its 200 day moving average is $99.29.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings data on Thursday, July 30th. The asset manager reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.20. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the business earned $1.18 EPS. Equities research analysts forecast that KKR & Co. Inc. will post 5.54 EPS for the current fiscal year.

KKR & Co. Inc. announced that its board has authorized a share buyback program on Tuesday, May 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the asset manager to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On KKR & Co. Inc.

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in KKR & Co. Inc. by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 60,064,587 shares of the asset manager’s stock valued at $7,657,034,000 after acquiring an additional 821,739 shares during the period. Principal Financial Group Inc. grew 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 valued at $1,804,470,000 after purchasing an additional 1,261,314 shares during the period. Geode Capital Management LLC grew 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 valued at $1,903,220,000 after purchasing an additional 146,285 shares during the period. Norges Bank purchased a new stake in KKR & Co. Inc. in the fourth quarter worth about $1,715,929,000. Finally, First Manhattan CO. LLC. increased its position in 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 worth $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.

Trending Headlines about KKR & Co. Inc.

Here are the key news stories impacting KKR & Co. Inc. this week:

• Positive Sentiment: Strong Q2 earnings: KKR reported second-quarter earnings of $1.63 per share, ahead of the $1.42–$1.43 analyst estimates and up from $1.18 a year earlier. Growth was driven by higher management fees, fundraising, transaction fees, and asset inflows across its asset-management and insurance businesses. KKR Q2 Earnings and Revenues Top Estimates
• Positive Sentiment: Favorable analyst revision: Barclays raised its price target for KKR from $124 to $135 and maintained an “overweight” rating. The new target implies substantial upside from the recent share price and may improve investor sentiment toward the stock.
• Neutral Sentiment: Quarterly dividend declared: KKR announced a dividend of $0.195 per share for shareholders of record on August 10, payable August 25. The payment equates to approximately $0.78 annualized and a dividend yield of about 0.8%, providing modest shareholder income. The stock’s ex-dividend date is August 10.
• Negative Sentiment: Revenue missed expectations: Quarterly revenue was $2.76 billion, below the $2.95 billion consensus estimate. Reports also noted higher expenses, which could temper the market’s reaction despite the earnings beat and continued growth in assets under management. KKR Earnings Report and Conference Call

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.