Evolve Private Wealth LLC Makes New $764,000 Investment in KKR & Co. Inc. $KKR

Evolve Private Wealth LLC bought a new position in shares of KKR & Co. Inc. (NYSE:KKR) during the 1st quarter, Holdings Channel reports. The firm bought 8,264 shares of the asset manager’s stock, valued at approximately $764,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in KKR & Co. Inc. by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 60,064,587 shares of the asset manager’s stock worth $7,657,034,000 after buying an additional 821,739 shares in the last quarter. Geode Capital Management LLC increased its position in KKR & Co. Inc. by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 14,995,742 shares of the asset manager’s stock valued at $1,903,220,000 after acquiring an additional 146,285 shares in the last quarter. Norges Bank bought a new position in shares of KKR & Co. Inc. in the fourth quarter worth about $1,715,929,000. First Manhattan CO. LLC. raised its stake in shares of KKR & Co. Inc. by 0.8% in the fourth quarter. First Manhattan CO. LLC. now owns 8,597,044 shares of the asset manager’s stock worth $1,095,951,000 after acquiring an additional 67,441 shares during the last quarter. Finally, Capital Research Global Investors lifted its position in shares of KKR & Co. Inc. by 0.4% during the fourth quarter. Capital Research Global Investors now owns 5,602,262 shares of the asset manager’s stock worth $714,195,000 after purchasing an additional 23,483 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Zacks Research raised shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. BMO Capital Markets reduced their price objective on KKR & Co. Inc. from $125.00 to $106.00 and set an “outperform” rating on the stock in a report on Tuesday, March 24th. Morgan Stanley decreased their price objective on KKR & Co. Inc. from $177.00 to $153.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. Barclays lowered their target price on KKR & Co. Inc. from $127.00 to $122.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Finally, TD Cowen cut their price target on KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating on the stock in a research note on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, KKR & Co. Inc. presently has a consensus rating of “Moderate Buy” and an average target price of $134.53.

KKR & Co. Inc. Price Performance

Shares of KKR stock opened at $91.30 on Thursday. The firm’s 50 day moving average price is $97.85 and its two-hundred day moving average price is $105.87. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.08 and a current ratio of 0.08. KKR & Co. Inc. has a 52-week low of $82.67 and a 52-week high of $153.87. The stock has a market cap of $81.97 billion, a PE ratio of 31.05, a PEG ratio of 0.81 and a beta of 1.79.

KKR & Co. Inc. (NYSE:KKR) last issued its earnings results on Friday, February 27th. The asset manager reported $1.24 EPS for the quarter. The company had revenue of $5.74 billion during the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. As a group, analysts forecast that KKR & Co. Inc. will post 5.53 EPS for the current year.

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 issued a $0.195 dividend. This is a boost from KKR & Co. Inc.’s previous quarterly dividend of $0.18. This represents a $0.78 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Friday, May 15th. KKR & Co. Inc.’s dividend payout ratio is currently 26.53%.

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

KKR & Co. Inc. 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.