Swedbank AB Trims Stock Position in KKR & Co. Inc. $KKR

Swedbank AB lessened its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 18.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 77,064 shares of the asset manager’s stock after selling 17,374 shares during the period. Swedbank AB’s holdings in KKR & Co. Inc. were worth $7,128,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Asset Dedication LLC purchased a new position in shares of KKR & Co. Inc. during the third quarter valued at $26,000. Washington Trust Advisors Inc. bought a new position in KKR & Co. Inc. during the 4th quarter worth about $27,000. Elyxium Wealth LLC purchased a new position in KKR & Co. Inc. during the 4th quarter valued at about $27,000. SouthState Bank Corp increased its position in KKR & Co. Inc. by 185.0% during the 4th quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 148 shares during the period. Finally, Garton & Associates Financial Advisors LLC bought a new stake in shares of KKR & Co. Inc. in the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Stock Up 0.7%

NYSE:KKR traded up $0.68 during mid-day trading on Friday, hitting $96.95. 2,839,186 shares of the company’s stock traded hands, compared to its average volume of 4,302,104. The company has a fifty day moving average of $95.69 and a 200 day moving average of $102.63. 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 twelve month low of $82.67 and a twelve month high of $153.87. The company has a market capitalization of $87.05 billion, a P/E ratio of 32.98, a P/E/G ratio of 0.83 and a beta of 1.79.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%.The business had revenue of $5.74 billion during the quarter. On average, analysts forecast that KKR & Co. Inc. will post 5.51 EPS for the current year.

KKR & Co. Inc. announced that its board has authorized a stock repurchase program on Tuesday, May 5th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the asset manager to buy up to 0.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

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 given a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, May 15th. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.18. KKR & Co. Inc.’s payout ratio is 26.53%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Piper Sandler lowered their target price on KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. The Goldman Sachs Group reduced their price target on KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Oppenheimer decreased their price objective on KKR & Co. Inc. from $187.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, April 13th. BMO Capital Markets decreased their price objective on KKR & Co. Inc. from $125.00 to $106.00 and set an “outperform” rating for the company in a research note on Tuesday, March 24th. Finally, Zacks Research raised KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $131.85.

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.