Danica Pension Livsforsikringsaktieselskab Purchases New Stake in KKR & Co. Inc. $KKR

Danica Pension Livsforsikringsaktieselskab acquired a new position in shares of KKR & Co. Inc. (NYSE:KKR) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 96,115 shares of the asset manager’s stock, valued at approximately $8,891,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Border to Coast Pensions Partnership Ltd lifted its stake in shares of KKR & Co. Inc. by 14.5% in the first quarter. Border to Coast Pensions Partnership Ltd now owns 435,000 shares of the asset manager’s stock valued at $40,361,000 after purchasing an additional 55,000 shares during the period. Third View Private Wealth LLC acquired a new position in KKR & Co. Inc. during the fourth quarter worth about $3,126,000. Concurrent Investment Advisors LLC grew its position in KKR & Co. Inc. by 125.6% during the fourth quarter. Concurrent Investment Advisors LLC now owns 19,728 shares of the asset manager’s stock worth $2,515,000 after buying an additional 10,982 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in KKR & Co. Inc. by 152.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 174,004 shares of the asset manager’s stock valued at $22,182,000 after buying an additional 105,070 shares in the last quarter. Finally, Brookstone Capital Management increased its holdings in KKR & Co. Inc. by 26.6% in the fourth quarter. Brookstone Capital Management now owns 125,779 shares of the asset manager’s stock valued at $16,034,000 after buying an additional 26,401 shares in the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

KKR & Co. Inc. Stock Performance

NYSE:KKR opened at $95.66 on Thursday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $85.89 billion, a P/E ratio of 32.54, a price-to-earnings-growth ratio of 0.82 and a beta of 1.79. The firm has a 50-day moving average price of $95.33 and a two-hundred day moving average price of $100.68. KKR & Co. Inc. has a twelve month low of $82.67 and a twelve month high of $153.87.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share (EPS) for the quarter. The company had revenue of $5.74 billion for the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. As a group, research analysts expect that KKR & Co. Inc. will post 5.54 earnings per share for the current fiscal year.

KKR & Co. Inc. declared that its board has authorized a share buyback program on Tuesday, May 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the asset manager to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership 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 given a dividend of $0.195 per share. The ex-dividend date was Friday, May 15th. This represents a $0.78 annualized dividend and a dividend yield of 0.8%. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.18. KKR & Co. Inc.’s payout ratio is presently 26.53%.

Insider Transactions at KKR & Co. Inc.

In related news, EVP Yael Cosset sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 14th. The stock was sold at an average price of $58.80, for a total value of $1,764,000.00. Following the sale, the executive vice president owned 127,868 shares of the company’s stock, valued at approximately $7,518,638.40. This represents a 19.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 23.20% of the company’s stock.

Analysts Set New Price Targets

KKR has been the topic of several research analyst reports. Piper Sandler decreased their price target on KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. UBS Group raised their price objective on KKR & Co. Inc. from $113.00 to $126.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Oppenheimer reduced their price objective on KKR & Co. Inc. from $143.00 to $139.00 and set an “outperform” rating for the company in a report on Friday, July 17th. Morgan Stanley decreased their target price on KKR & Co. Inc. from $153.00 to $147.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Zacks Research upgraded KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $128.08.

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.