KKR & Co. Inc. $KKR Shares Bought by Rathbones Group PLC

Rathbones Group PLC raised its holdings in KKR & Co. Inc. (NYSE:KKR) by 20.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,810,812 shares of the asset manager’s stock after purchasing an additional 310,265 shares during the quarter. Rathbones Group PLC owned 0.20% of KKR & Co. Inc. worth $167,500,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Norges Bank purchased a new stake in KKR & Co. Inc. in the 4th quarter valued at about $1,715,929,000. Viking Global Investors LP acquired a new stake in KKR & Co. Inc. during the 3rd quarter worth approximately $352,038,000. Temasek Holdings Private Ltd raised its stake 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 valued at $325,859,000 after acquiring an additional 2,190,248 shares in the last quarter. Farallon Capital Management LLC acquired a new stake in KKR & Co. Inc. in the 4th quarter valued at about $257,216,000. Finally, Amundi boosted its stake in shares of KKR & Co. Inc. by 65.3% in the 1st quarter. Amundi now owns 3,726,040 shares of the asset manager’s stock valued at $344,659,000 after buying an additional 1,472,265 shares during the period. Institutional investors and hedge funds own 76.26% of the company’s stock.

KKR & Co. Inc. News Roundup

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

• Positive Sentiment: Quarterly earnings beat expectations: KKR reported second-quarter EPS of $1.63, ahead of the $1.42–$1.43 consensus and up from $1.18 a year earlier. Revenue reached $5.73 billion versus estimates of $2.95 billion. Growth was driven by higher assets under management, management fees, transaction fees, fundraising and inflows in its asset-management and insurance businesses. KKR Q2 Earnings and Revenues Top Estimates
• Positive Sentiment: Analysts raised price targets: Royal Bank of Canada increased its target from $125 to $134 and maintained an “outperform” rating, while Barclays raised its target from $124 to $135 and assigned an “overweight” rating. The new targets imply roughly 32% upside from the referenced share price, reinforcing confidence in KKR’s earnings and growth outlook. Analyst Price Target Updates
• Neutral Sentiment: Potential Integer Holdings acquisition: Reports say KKR is nearing a deal to acquire medical-device outsourcing company Integer Holdings. The transaction could expand KKR’s healthcare investment portfolio, although its eventual valuation, financing and execution risks remain unknown. KKR Nearing Deal to Acquire Integer Holdings
• Neutral Sentiment: Dividend declared: KKR announced a quarterly dividend of $0.195 per share, payable August 25 to shareholders of record August 10. The dividend provides continued shareholder income, though its approximately 0.8% annualized yield is unlikely to be a major share-price catalyst.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Zacks Research raised KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. Oppenheimer reduced their target price on shares of KKR & Co. Inc. from $143.00 to $139.00 and set an “outperform” rating on the stock in a report on Friday, July 17th. Royal Bank Of Canada lifted their price target on shares of KKR & Co. Inc. from $125.00 to $134.00 and gave the stock an “outperform” rating in a research note on Friday. HSBC boosted their price target on shares of KKR & Co. Inc. from $118.00 to $121.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Finally, BMO Capital Markets dropped their price objective on shares of KKR & Co. Inc. from $120.00 to $112.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, KKR & Co. Inc. currently has a consensus rating of “Moderate Buy” and an average target price of $129.75.

KKR & Co. Inc. Stock Performance

Shares of KKR & Co. Inc. stock opened at $101.69 on Monday. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.70. KKR & Co. Inc. has a 52 week low of $82.67 and a 52 week high of $152.10. The firm’s 50 day moving average is $95.99 and its two-hundred day moving average is $99.06. The firm has a market capitalization of $91.31 billion, a P/E ratio of 32.39, a P/E/G ratio of 0.86 and a beta of 1.78.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings data on Thursday, July 30th. The asset manager reported $1.63 earnings per share for the quarter, topping 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 5.89%. The business had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the previous year, the firm earned $1.18 EPS. Research analysts forecast that KKR & Co. Inc. will post 5.54 EPS for the current fiscal year.

KKR & Co. Inc. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Monday, August 10th will be paid a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, August 10th. KKR & Co. Inc.’s dividend payout ratio (DPR) is currently 24.84%.

KKR & Co. Inc. declared that its Board of Directors has initiated a stock repurchase program on Tuesday, May 5th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the asset manager to reacquire up to 0.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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.