Adell Harriman & Carpenter Inc. Cuts Stock Holdings in KKR & Co. Inc. $KKR

Adell Harriman & Carpenter Inc. lowered its position in KKR & Co. Inc. (NYSE:KKR) by 2.0% in the first quarter, Holdings Channel.com reports. The firm owned 264,552 shares of the asset manager’s stock after selling 5,314 shares during the quarter. KKR & Co. Inc. makes up about 1.5% of Adell Harriman & Carpenter Inc.’s holdings, making the stock its 20th largest position. Adell Harriman & Carpenter Inc.’s holdings in KKR & Co. Inc. were worth $24,471,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Asset Dedication LLC purchased a new position in shares of KKR & Co. Inc. during the 3rd quarter worth approximately $26,000. Washington Trust Advisors Inc. acquired a new stake in shares of KKR & Co. Inc. in the 4th quarter valued at approximately $27,000. Elyxium Wealth LLC purchased a new stake in shares of KKR & Co. Inc. in the fourth quarter valued at approximately $27,000. SouthState Bank Corp grew its holdings in KKR & Co. Inc. by 185.0% during the fourth quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock worth $29,000 after acquiring an additional 148 shares during the period. Finally, Garton & Associates Financial Advisors LLC acquired a new position in KKR & Co. Inc. during the fourth quarter worth $29,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on KKR. UBS Group raised their target price on KKR & Co. Inc. from $113.00 to $126.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Oppenheimer lowered their price target on shares of KKR & Co. Inc. from $187.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday, April 13th. BMO Capital Markets cut their price target on shares of KKR & Co. Inc. from $120.00 to $112.00 and set an “outperform” rating for the company in a report on Monday. Royal Bank Of Canada reduced their price objective on shares of KKR & Co. Inc. from $128.00 to $125.00 and set an “outperform” rating for the company in a research note on Monday. Finally, Zacks Research raised shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $130.58.

KKR & Co. Inc. Price Performance

KKR stock opened at $97.19 on Wednesday. KKR & Co. Inc. has a 1 year low of $82.67 and a 1 year high of $153.87. 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’s 50 day moving average price is $95.45 and its 200 day moving average price is $101.95. The firm has a market cap of $87.26 billion, a P/E ratio of 33.06, a PEG ratio of 0.82 and a beta of 1.79.

KKR & Co. Inc. (NYSE:KKR) last announced its earnings results on Friday, February 27th. The asset manager reported $1.24 EPS for the quarter. The firm had revenue of $5.74 billion for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%. On average, sell-side analysts expect that KKR & Co. Inc. will post 5.55 earnings per share for the current fiscal year.

KKR & Co. Inc. announced that its board has approved a share repurchase program on Tuesday, May 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the asset manager to buy up to 0.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

KKR & Co. Inc. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a dividend of $0.195 per share. The ex-dividend date of this dividend was Friday, May 15th. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.18. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.8%. KKR & Co. Inc.’s dividend payout ratio is 26.53%.

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.