NewEdge Advisors LLC Decreases Stake in KKR & Co. Inc. $KKR

NewEdge Advisors LLC reduced its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 37.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,649 shares of the asset manager’s stock after selling 39,126 shares during the period. NewEdge Advisors LLC’s holdings in KKR & Co. Inc. were worth $5,980,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Praxis Investment Management Inc. increased its position in shares of KKR & Co. Inc. by 0.9% in the 4th quarter. Praxis Investment Management Inc. now owns 10,006 shares of the asset manager’s stock valued at $1,276,000 after acquiring an additional 94 shares during the period. Horizon Bancorp Inc. IN grew its stake in KKR & Co. Inc. by 3.8% during the 1st quarter. Horizon Bancorp Inc. IN now owns 2,622 shares of the asset manager’s stock valued at $243,000 after purchasing an additional 95 shares during the last quarter. Western Pacific Wealth Management LP grew its stake in KKR & Co. Inc. by 34.8% during the 1st quarter. Western Pacific Wealth Management LP now owns 387 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. Wernau Asset Management Inc. increased its holdings in shares of KKR & Co. Inc. by 1.0% in the first quarter. Wernau Asset Management Inc. now owns 10,877 shares of the asset manager’s stock valued at $1,006,000 after purchasing an additional 104 shares during the period. Finally, OLD National Bancorp IN raised its stake in shares of KKR & Co. Inc. by 1.6% in the fourth quarter. OLD National Bancorp IN now owns 6,711 shares of the asset manager’s stock worth $856,000 after purchasing an additional 106 shares during the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on KKR shares. BMO Capital Markets lifted their target price on KKR & Co. Inc. from $112.00 to $118.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. HSBC raised their price target on shares of KKR & Co. Inc. from $118.00 to $121.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Morgan Stanley decreased 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. Barclays upped their price objective on shares of KKR & Co. Inc. from $124.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Finally, UBS Group increased their price objective on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, KKR & Co. Inc. presently has an average rating of “Moderate Buy” and an average price target of $127.75.

KKR & Co. Inc. Trading Up 0.8%

KKR & Co. Inc. stock opened at $103.65 on Tuesday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.71. KKR & Co. Inc. has a 12 month low of $82.67 and a 12 month high of $152.10. The stock’s 50 day simple moving average is $97.21 and its two-hundred day simple moving average is $98.00. The firm has a market cap of $93.04 billion, a PE ratio of 33.01, a P/E/G ratio of 0.88 and a beta of 1.78.

KKR & Co. Inc. (NYSE:KKR) last posted its earnings results on Thursday, July 30th. The asset manager reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.20. The firm had revenue of $5.73 billion during the quarter, compared to analyst estimates of $2.55 billion. KKR & Co. Inc. had a net margin of 14.41% and a return on equity of 5.88%. During the same period in the previous year, the firm earned $1.18 EPS. Analysts anticipate that KKR & Co. Inc. will post 5.68 earnings per share for the current year.

KKR & Co. Inc. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Monday, August 10th will be given a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, August 10th. KKR & Co. Inc.’s dividend payout ratio (DPR) is currently 24.84%.

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

KKR & Co. Inc. 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.