KKR & Co. Inc. $KKR Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp lifted its holdings in shares of KKR & Co. Inc. (NYSE:KKR) by 20.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 273,872 shares of the asset manager’s stock after acquiring an additional 47,364 shares during the period. Van ECK Associates Corp’s holdings in KKR & Co. Inc. were worth $25,136,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of KKR & Co. Inc. in the 4th quarter valued at approximately $1,715,929,000. Legal & General Group Plc purchased a new stake in KKR & Co. Inc. during the 2nd quarter worth approximately $470,778,000. Bank of New York Mellon Corp acquired a new position in KKR & Co. Inc. during the 2nd quarter valued at approximately $298,311,000. Viking Global Investors LP acquired a new position in KKR & Co. Inc. during the 3rd quarter valued at approximately $352,038,000. Finally, Temasek Holdings Private Ltd raised its holdings in shares of KKR & Co. Inc. by 164.4% in the first quarter. Temasek Holdings Private Ltd now owns 3,522,797 shares of the asset manager’s stock worth $325,859,000 after buying an additional 2,190,248 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

KKR & Co. Inc. Trading Up 0.1%

Shares of KKR & Co. Inc. stock opened at $108.74 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.09 and a quick ratio of 0.09. The firm has a fifty day moving average price of $101.16 and a 200 day moving average price of $97.68. KKR & Co. Inc. has a 1 year low of $82.67 and a 1 year high of $152.10. The stock has a market cap of $97.61 billion, a PE ratio of 34.63, a price-to-earnings-growth ratio of 0.92 and a beta of 1.78.

KKR & Co. Inc. (NYSE:KKR) last posted its quarterly earnings results on Thursday, July 30th. The asset manager reported $1.63 EPS 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 company had revenue of $5.73 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period in the prior year, the company earned $1.18 earnings per share. Equities research analysts predict that KKR & Co. Inc. will post 5.68 earnings per share for the current year.

KKR & Co. Inc. declared that its Board of Directors has initiated a share buyback plan on Tuesday, May 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the asset manager to purchase up to 0.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

KKR & Co. Inc. Announces Dividend

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

Key KKR & Co. Inc. News

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

• Positive Sentiment: Strong analyst price-target increase: Oppenheimer raised its KKR price target from $139 to $166 and reiterated an “outperform” rating, implying substantial upside from recent levels. Benzinga analyst rating report
• Positive Sentiment: Expansion in private aviation infrastructure: Apollo-managed funds acquired a significant interest in Atlantic Aviation, while KKR-managed funds remain a substantial shareholder. The partnership could support Atlantic Aviation’s growth and preserve KKR’s exposure to a potentially attractive infrastructure platform. Apollo Funds and KKR Announce Strategic Partnership
• Positive Sentiment: New infrastructure investment: KKR and Apollo are partnering with Enbridge on approximately C$2.7 billion of expansions to the Westcoast natural-gas pipeline system in British Columbia, expanding KKR’s exposure to energy infrastructure and long-term contracted assets. Enbridge, KKR form joint venture
• Positive Sentiment: AI data-center exposure: KKR is investing in SK Telecom’s newly launched SK Horizon, an AI data-center infrastructure company. The deal gives KKR participation in the expanding demand for data-center capacity and digital infrastructure. SK Horizon investment announcement
• Neutral Sentiment: Antitrust case resolution: KKR agreed to a stipulation and order with the U.S. Department of Justice, potentially removing some uncertainty, although the settlement also highlights ongoing regulatory and legal risks. KKR reaches settlement in DOJ antitrust case
• Neutral Sentiment: Fixed-income appeal: An analysis described KKR’s “baby bonds” as offering potential capital appreciation, but this is an investment view on the company’s debt securities rather than a direct earnings catalyst for common stock. KKR baby bonds analysis
• Negative Sentiment: Reported fraud investigation: A law firm is seeking KKR investors to participate in a fraud investigation, creating potential litigation, reputational, and financial risks. The notice does not establish wrongdoing, but it may weigh on sentiment. KKR investor fraud investigation notice

Analyst Upgrades and Downgrades

KKR has been the subject of several research reports. Argus lifted their price objective on shares of KKR & Co. Inc. from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. UBS Group upped their target price on KKR & Co. Inc. from $113.00 to $126.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Oppenheimer raised their target price on KKR & Co. Inc. from $139.00 to $166.00 and gave the stock an “outperform” rating in a research note on Thursday. Morgan Stanley dropped their price target on KKR & Co. Inc. from $153.00 to $147.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 21st. Finally, BMO Capital Markets increased their price objective on KKR & Co. Inc. from $112.00 to $118.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, KKR & Co. Inc. presently has a consensus rating of “Moderate Buy” and an average target price of $130.00.

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.