Waverly Advisors LLC Grows Stake in KKR & Co. Inc. $KKR

Waverly Advisors LLC boosted its holdings in KKR & Co. Inc. (NYSE:KKR) by 44.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 113,145 shares of the asset manager’s stock after purchasing an additional 34,717 shares during the quarter. Waverly Advisors LLC’s holdings in KKR & Co. Inc. were worth $10,466,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of KKR & Co. Inc. in the 4th quarter valued at about $1,715,929,000. Viking Global Investors LP purchased a new stake in KKR & Co. Inc. in the third quarter valued at approximately $352,038,000. Temasek Holdings Private Ltd boosted its holdings 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 during the period. Farallon Capital Management LLC purchased a new position in shares of KKR & Co. Inc. during the fourth quarter worth approximately $257,216,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of KKR & Co. Inc. by 41.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,401,951 shares of the asset manager’s stock valued at $561,161,000 after acquiring an additional 1,295,099 shares during the period. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting KKR & Co. Inc.

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

• Positive Sentiment: KKR joined Blackstone and Brookfield in a roughly $16 billion agreement with Kuwait to lease and operate the country’s oil pipeline network. The transaction strengthens KKR’s energy-infrastructure portfolio and may support long-term management fees and investment returns. Blackstone, Brookfield and KKR sign $16 billion deal with Kuwait for oil pipeline network
• Positive Sentiment: KKR and Energy Capital Partners agreed to acquire Ireland-based DCC Energy for approximately $7.7 billion (about £5.75 billion). DCC’s board unanimously recommended the improved offer, giving KKR another sizable energy and infrastructure investment opportunity. Ireland’s DCC Energy agrees $7.7 billion takeover by KKR and Energy Capital
• Positive Sentiment: Analysts expect KKR’s second-quarter results to reflect higher assets under management, management fees and revenue. Strong fundraising, investment activity and fee-generating capital would reinforce the firm’s growth outlook. KKR & Co.’s Q2 Earnings Coming Up: Here’s What You Should Know
• Neutral Sentiment: Wall Street’s quarterly projections point investors toward key operating metrics beyond headline revenue and earnings. The July 30 report will be important for confirming whether recent deal activity is translating into fee growth and realizations. Insights Into KKR Q2 Wall Street Projections for Key Metrics
• Negative Sentiment: Higher expenses could limit the benefit of stronger AUM, management fees and revenue in the second quarter. Investors will also assess how KKR finances its new commitments and whether transaction costs weigh on near-term earnings. KKR Q2 earnings preview

Analysts Set New Price Targets

Several brokerages have issued reports on KKR. The Goldman Sachs Group lowered their price objective on shares of KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Piper Sandler lowered their price target on KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. Royal Bank Of Canada dropped their price target on KKR & Co. Inc. from $128.00 to $125.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. TD Cowen reduced their price objective on KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating for the company in a research note on Monday, May 18th. Finally, Barclays upped their price objective on KKR & Co. Inc. from $122.00 to $124.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, KKR & Co. Inc. presently has a consensus rating of “Moderate Buy” and an average target price of $128.08.

KKR & Co. Inc. Stock Up 2.4%

KKR stock opened at $101.76 on Tuesday. KKR & Co. Inc. has a one year low of $82.67 and a one year high of $153.87. The stock has a market capitalization of $91.37 billion, a PE ratio of 34.61, a price-to-earnings-growth ratio of 0.84 and a beta of 1.79. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.08 and a current ratio of 0.08. The company has a fifty day moving average of $95.42 and a 200-day moving average of $99.96.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share (EPS) for the quarter. The business 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, analysts expect that KKR & Co. Inc. will post 5.54 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were paid a dividend of $0.195 per share. This is a positive change from KKR & Co. Inc.’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.8%. KKR & Co. Inc.’s dividend payout ratio (DPR) is currently 26.53%.

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

Insider Activity

In other news, EVP Yael Cosset sold 30,000 shares of the firm’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 completion of the sale, the executive vice president directly owned 127,868 shares of the company’s stock, valued at $7,518,638.40. This trade represents a 19.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 23.20% of the company’s stock.

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.