Commerce Bank Invests $12.48 Million in KKR & Co. Inc. $KKR

Commerce Bank bought a new stake in KKR & Co. Inc. (NYSE:KKR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 135,978 shares of the asset manager’s stock, valued at approximately $12,480,000.

A number of other institutional investors and hedge funds have also made changes to their positions in KKR. Northwestern Mutual Wealth Management Co. purchased a new position in KKR & Co. Inc. during the second quarter worth about $6,445,000. Quantbot Technologies LP acquired a new stake in KKR & Co. Inc. in the second quarter valued at about $2,532,000. Varma Mutual Pension Insurance Co purchased a new stake in KKR & Co. Inc. in the 2nd quarter valued at approximately $11,778,000. Westpac Banking Corp purchased a new stake in KKR & Co. Inc. in the 2nd quarter valued at approximately $537,000. Finally, Sumitomo Life Insurance Co. acquired a new position in KKR & Co. Inc. during the 2nd quarter worth approximately $2,350,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KKR has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised KKR & Co. Inc. to a “moderate buy” rating in a research note on Monday, July 20th. UBS Group upped their price target on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. HSBC raised their price objective on shares of KKR & Co. Inc. from $118.00 to $121.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Zacks Research upgraded shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. Finally, Argus increased their target price on shares of KKR & Co. Inc. from $115.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.75.

KKR & Co. Inc. Stock Up 0.1%

KKR 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 company has a market cap of $97.47 billion, a price-to-earnings ratio of 34.58, a PEG ratio of 0.92 and a beta of 1.78. KKR & Co. Inc. has a one year low of $82.67 and a one year high of $152.10. The business’s fifty day moving average is $100.09 and its two-hundred day moving average is $97.51.

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

KKR & Co. Inc. announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the asset manager to buy up to 0.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

KKR & Co. Inc. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders 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 yield of 0.7%. The ex-dividend date is Monday, August 10th. KKR & Co. Inc.’s dividend payout ratio (DPR) is 24.84%.

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.