Daiichi Life Insurance Co. Ltd. Takes $3.05 Million Position in KKR & Co. Inc. $KKR

Daiichi Life Insurance Co. Ltd. purchased a new stake in KKR & Co. Inc. (NYSE:KKR) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 33,235 shares of the asset manager’s stock, valued at approximately $3,050,000.

Other institutional investors have also recently bought and sold shares of the company. Praxis Investment Management Inc. increased its position in shares of KKR & Co. Inc. by 0.9% in the fourth quarter. Praxis Investment Management Inc. now owns 10,006 shares of the asset manager’s stock worth $1,276,000 after acquiring an additional 94 shares in the last quarter. Horizon Bancorp Inc. IN lifted its position in shares of KKR & Co. Inc. by 3.8% in the 1st quarter. Horizon Bancorp Inc. IN now owns 2,622 shares of the asset manager’s stock valued at $243,000 after acquiring an additional 95 shares in the last quarter. Western Pacific Wealth Management LP lifted its position in shares of KKR & Co. Inc. by 34.8% in the 1st quarter. Western Pacific Wealth Management LP now owns 387 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 100 shares in the last quarter. Wernau Asset Management Inc. lifted its position in shares of KKR & Co. Inc. by 1.0% in the 1st quarter. Wernau Asset Management Inc. now owns 10,877 shares of the asset manager’s stock valued at $1,006,000 after acquiring an additional 104 shares in the last quarter. Finally, Mission Wealth Management LP boosted its stake in KKR & Co. Inc. by 0.5% in the 4th quarter. Mission Wealth Management LP now owns 20,567 shares of the asset manager’s stock worth $2,622,000 after purchasing an additional 110 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Stock Performance

KKR stock opened at $108.59 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.09 and a current ratio of 0.09. The stock has a market cap of $97.47 billion, a P/E ratio of 34.58, a P/E/G ratio of 0.92 and a beta of 1.78. The firm has a 50 day simple moving average of $100.09 and a 200 day simple moving average of $97.51. KKR & Co. Inc. has a 52 week low of $82.67 and a 52 week high of $152.10.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings data on Thursday, July 30th. The asset manager reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.20. KKR & Co. Inc. had a net margin of 14.41% and a return on equity of 5.88%. The firm had revenue of $5.73 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the prior year, the business earned $1.18 EPS. Research analysts anticipate that KKR & Co. Inc. will post 5.68 earnings per share for the current fiscal year.

KKR & Co. Inc. announced that its Board of Directors 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 purchase up to 0.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

KKR & Co. Inc. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Monday, August 10th will be issued a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, August 10th. KKR & Co. Inc.’s payout ratio is currently 24.84%.

Analysts Set New Price Targets

KKR has been the topic of several research analyst reports. UBS Group lifted their price objective on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Weiss Ratings upgraded KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, June 16th. Argus raised their target price on KKR & Co. Inc. from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Morgan Stanley lowered their price target 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. Finally, Barclays upped their price target on KKR & Co. Inc. from $124.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $127.75.

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.