Synovus Financial Corp Purchases 9,748 Shares of KKR & Co. Inc. $KKR

Synovus Financial Corp grew its position in KKR & Co. Inc. (NYSE:KKR) by 68.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 23,970 shares of the asset manager’s stock after buying an additional 9,748 shares during the period. Synovus Financial Corp’s holdings in KKR & Co. Inc. were worth $3,115,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in KKR. Norges Bank acquired a new position in KKR & Co. Inc. in the second quarter valued at about $1,530,419,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of KKR & Co. Inc. by 454.1% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,381,342 shares of the asset manager’s stock valued at $183,760,000 after purchasing an additional 1,132,046 shares in the last quarter. Vanguard Group Inc. grew its position in shares of KKR & Co. Inc. by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 58,656,955 shares of the asset manager’s stock valued at $7,803,135,000 after purchasing an additional 1,099,263 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of KKR & Co. Inc. by 4.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 19,847,217 shares of the asset manager’s stock valued at $2,640,275,000 after purchasing an additional 765,457 shares during the period. Finally, Bain Capital Public Equity Management II LLC increased its stake in KKR & Co. Inc. by 166.1% during the 2nd quarter. Bain Capital Public Equity Management II LLC now owns 986,221 shares of the asset manager’s stock worth $131,197,000 after purchasing an additional 615,591 shares in the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

Insider Buying and Selling

In related news, Director Timothy R. Barakett purchased 50,000 shares of KKR & Co. Inc. stock in a transaction that occurred on Monday, February 9th. The stock was purchased at an average cost of $104.93 per share, with a total value of $5,246,500.00. Following the completion of the transaction, the director owned 235,000 shares of the company’s stock, valued at approximately $24,658,550. This trade represents a 27.03% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Scott C. Nuttall purchased 125,000 shares of the stock in a transaction on Tuesday, February 17th. The shares were bought at an average cost of $102.66 per share, for a total transaction of $12,832,500.00. Following the transaction, the chief executive officer directly owned 15,503,748 shares in the company, valued at approximately $1,591,614,769.68. The trade was a 0.81% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders bought 343,872 shares of company stock valued at $35,367,179. 39.34% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on KKR. TD Cowen lowered shares of KKR & Co. Inc. from a “buy” rating to a “hold” rating and cut their price target for the company from $146.00 to $131.00 in a research note on Wednesday, January 14th. Oppenheimer dropped their price objective on shares of KKR & Co. Inc. from $190.00 to $187.00 and set an “outperform” rating on the stock in a report on Friday, February 6th. Weiss Ratings raised shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, February 4th. Barclays dropped their price target on KKR & Co. Inc. from $159.00 to $136.00 and set an “overweight” rating on the stock in a research note on Friday, February 6th. Finally, Wall Street Zen upgraded KKR & Co. Inc. from a “sell” rating to a “hold” rating in a report on Sunday, January 25th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, KKR & Co. Inc. has a consensus rating of “Moderate Buy” and an average target price of $153.50.

KKR & Co. Inc. Stock Performance

Shares of KKR opened at $101.14 on Friday. The stock has a market capitalization of $90.15 billion, a price-to-earnings ratio of 43.22, a PEG ratio of 0.80 and a beta of 1.99. KKR & Co. Inc. has a 12 month low of $86.15 and a 12 month high of $153.87. The firm has a fifty day simple moving average of $120.99 and a 200 day simple moving average of $127.34. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.75.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings results on Thursday, February 5th. The asset manager reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.02). KKR & Co. Inc. had a net margin of 11.97% and a return on equity of 5.77%. The business had revenue of $5.93 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same quarter in the previous year, the firm posted $1.32 earnings per share. The firm’s quarterly revenue was up 76.1% on a year-over-year basis. Research analysts forecast that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

KKR & Co. Inc. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th will be issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 0.7%. The ex-dividend date is Tuesday, February 17th. KKR & Co. Inc.’s dividend payout ratio is presently 31.62%.

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.