KKR & Co. Inc. (NYSE:KKR) Trading Up 6.1% – Here’s What Happened

KKR & Co. Inc. (NYSE:KKR)’s stock price shot up 6.1% during trading on Tuesday . The company traded as high as $109.50 and last traded at $110.1750. 1,702,797 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 5,873,632 shares. The stock had previously closed at $103.83.

Analyst Ratings Changes

Several research firms recently issued reports on KKR. BMO Capital Markets increased their target price on KKR & Co. Inc. from $112.00 to $118.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Zacks Research upgraded shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. Keefe, Bruyette & Woods raised shares of KKR & Co. Inc. to a “moderate buy” rating in a research report on Monday, July 20th. Weiss Ratings raised shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, June 16th. Finally, TD Cowen increased their target price on shares of KKR & Co. Inc. from $108.00 to $111.00 and gave the stock a “hold” rating in a report on Monday, August 3rd. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $127.75.

KKR & Co. Inc. Stock Down 0.1%

The stock has a market cap of $99.52 billion, a PE ratio of 35.31, a price-to-earnings-growth ratio of 0.95 and a beta of 1.78. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.71. The firm has a fifty day moving average of $97.95 and a 200 day moving average of $97.82.

KKR & Co. Inc. (NYSE:KKR) last released 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 firm had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the prior year, the firm earned $1.18 EPS. On average, equities research analysts anticipate that KKR & Co. Inc. will post 5.68 EPS for the current fiscal year.

KKR & Co. Inc. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Monday, August 10th will be issued a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, August 10th. KKR & Co. Inc.’s dividend payout ratio (DPR) is 24.84%.

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

Institutional Investors Weigh In On KKR & Co. Inc.

Hedge funds have recently modified their holdings of the stock. Washington Trust Advisors Inc. bought a new stake in shares of KKR & Co. Inc. during the 4th quarter valued at about $27,000. Elyxium Wealth LLC acquired a new stake in KKR & Co. Inc. in the 4th quarter valued at about $27,000. SouthState Bank Corp boosted its stake in shares of KKR & Co. Inc. by 185.0% during the 4th quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock worth $29,000 after acquiring an additional 148 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new stake in shares of KKR & Co. Inc. in the fourth quarter worth $29,000. Finally, MV Capital Management Inc. acquired a new stake in shares of KKR & Co. Inc. during the fourth quarter worth approximately $31,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

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.