Bowen Hanes & Co. Inc. Boosts Stake in KKR & Co. Inc. $KKR

Bowen Hanes & Co. Inc. raised its position in KKR & Co. Inc. (NYSE:KKR) by 115.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 119,195 shares of the asset manager’s stock after purchasing an additional 63,815 shares during the period. Bowen Hanes & Co. Inc.’s holdings in KKR & Co. Inc. were worth $15,195,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SteelPeak Wealth LLC boosted its position in KKR & Co. Inc. by 3.2% in the 4th quarter. SteelPeak Wealth LLC now owns 2,549 shares of the asset manager’s stock valued at $325,000 after buying an additional 80 shares during the last quarter. Diversified Trust Co. boosted its position in KKR & Co. Inc. by 1.5% in the 4th quarter. Diversified Trust Co. now owns 5,562 shares of the asset manager’s stock valued at $709,000 after buying an additional 82 shares during the last quarter. Modera Wealth Management LLC boosted its position in KKR & Co. Inc. by 4.9% in the 4th quarter. Modera Wealth Management LLC now owns 1,789 shares of the asset manager’s stock valued at $228,000 after buying an additional 84 shares during the last quarter. Sound Income Strategies LLC boosted its position in KKR & Co. Inc. by 9.1% in the 4th quarter. Sound Income Strategies LLC now owns 1,084 shares of the asset manager’s stock valued at $143,000 after buying an additional 90 shares during the last quarter. Finally, Cornerstone Advisory LLC boosted its position in KKR & Co. Inc. by 3.0% in the 3rd quarter. Cornerstone Advisory LLC now owns 3,189 shares of the asset manager’s stock valued at $414,000 after buying an additional 92 shares during the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on KKR shares. Weiss Ratings cut shares of KKR & Co. Inc. from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, May 21st. UBS Group increased their price target on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Zacks Research raised shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. Morgan Stanley reduced their price target on shares of KKR & Co. Inc. from $177.00 to $153.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. Finally, The Goldman Sachs Group reduced their price target 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. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, KKR & Co. Inc. has an average rating of “Moderate Buy” and an average price target of $134.53.

KKR & Co. Inc. Stock Performance

Shares of NYSE KKR opened at $90.71 on Thursday. 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 firm’s 50-day moving average price is $96.63 and its two-hundred day moving average price is $108.45. KKR & Co. Inc. has a 52-week low of $82.67 and a 52-week high of $153.87. The stock has a market capitalization of $81.45 billion, a P/E ratio of 30.85, a P/E/G ratio of 0.82 and a beta of 1.79.

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

KKR & Co. Inc. announced that its Board of Directors has approved a stock repurchase plan on Tuesday, May 5th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the asset manager to reacquire up to 0.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

KKR & Co. Inc. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were paid a $0.195 dividend. The ex-dividend date was Friday, May 15th. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.19. This represents a $0.78 annualized dividend and a dividend yield of 0.9%. KKR & Co. Inc.’s dividend payout ratio (DPR) is 26.53%.

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.