Royal Bank Of Canada Forecasts Strong Price Appreciation for KKR & Co. Inc. (NYSE:KKR) Stock

KKR & Co. Inc. (NYSE:KKR) had its target price boosted by stock analysts at Royal Bank Of Canada from $125.00 to $134.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the asset manager’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 32.56% from the company’s previous close.

Several other equities research analysts also recently commented on KKR. Weiss Ratings raised KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, June 16th. Keefe, Bruyette & Woods upgraded KKR & Co. Inc. to a “moderate buy” rating in a report on Monday, July 20th. Morgan Stanley reduced their price objective on shares of KKR & Co. Inc. from $153.00 to $147.00 and set an “overweight” rating for the company in a research note on Tuesday, July 21st. The Goldman Sachs Group decreased their target price on shares of KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Finally, Oppenheimer dropped 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 research report on Friday, July 17th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $129.75.

KKR & Co. Inc. Price Performance

NYSE:KKR traded up $0.11 during trading hours on Friday, reaching $101.09. 3,939,684 shares of the company’s stock were exchanged, compared to its average volume of 5,907,579. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $90.77 billion, a P/E ratio of 34.39, a price-to-earnings-growth ratio of 0.84 and a beta of 1.79. KKR & Co. Inc. has a 12 month low of $82.67 and a 12 month high of $152.10. The business’s 50-day simple moving average is $95.84 and its two-hundred day simple moving average is $99.29.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings data on Thursday, July 30th. The asset manager reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.20. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.95 billion. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%.During the same quarter in the prior year, the firm earned $1.18 EPS. Sell-side analysts expect that KKR & Co. Inc. will post 5.54 EPS for the current fiscal year.

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

Institutional Investors Weigh In On KKR & Co. Inc.

Institutional investors and hedge funds have recently made changes to their positions in the company. Brighton Jones LLC lifted its position in KKR & Co. Inc. by 109.6% during the 4th quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager’s stock worth $689,000 after buying an additional 2,437 shares in the last quarter. Bison Wealth LLC bought a new position in KKR & Co. Inc. during the 4th quarter worth approximately $218,000. Sivia Capital Partners LLC grew its holdings in shares of KKR & Co. Inc. by 13.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,050 shares of the asset manager’s stock valued at $273,000 after buying an additional 237 shares during the period. United Bank bought a new stake in shares of KKR & Co. Inc. in the second quarter worth about $769,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of KKR & Co. Inc. during the second quarter worth $4,826,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

Trending Headlines about KKR & Co. Inc.

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

• Positive Sentiment: Strong Q2 earnings: KKR reported second-quarter earnings of $1.63 per share, ahead of the $1.42–$1.43 analyst estimates and up from $1.18 a year earlier. Growth was driven by higher management fees, fundraising, transaction fees, and asset inflows across its asset-management and insurance businesses. KKR Q2 Earnings and Revenues Top Estimates
• Positive Sentiment: Favorable analyst revision: Barclays raised its price target for KKR from $124 to $135 and maintained an “overweight” rating. The new target implies substantial upside from the recent share price and may improve investor sentiment toward the stock.
• Neutral Sentiment: Quarterly dividend declared: KKR announced a dividend of $0.195 per share for shareholders of record on August 10, payable August 25. The payment equates to approximately $0.78 annualized and a dividend yield of about 0.8%, providing modest shareholder income. The stock’s ex-dividend date is August 10.
• Negative Sentiment: Revenue missed expectations: Quarterly revenue was $2.76 billion, below the $2.95 billion consensus estimate. Reports also noted higher expenses, which could temper the market’s reaction despite the earnings beat and continued growth in assets under management. KKR Earnings Report and Conference Call

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.