Rockefeller Capital Management L.P. Buys 16,872 Shares of KKR & Co. Inc. $KKR

Rockefeller Capital Management L.P. lifted its position in KKR & Co. Inc. (NYSE:KKR) by 5.3% in the fourth quarter, Holdings Channel reports. The firm owned 332,693 shares of the asset manager’s stock after buying an additional 16,872 shares during the period. Rockefeller Capital Management L.P.’s holdings in KKR & Co. Inc. were worth $42,412,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Asset Dedication LLC purchased a new position in KKR & Co. Inc. during the 3rd quarter worth $26,000. GGM Financials LLC purchased a new stake in shares of KKR & Co. Inc. in the 3rd quarter worth $27,000. Washington Trust Advisors Inc. bought a new position in shares of KKR & Co. Inc. during the 4th quarter worth $27,000. Elyxium Wealth LLC purchased a new position in shares of KKR & Co. Inc. during the fourth quarter valued at $27,000. Finally, SouthState Bank Corp increased its stake in shares of KKR & Co. Inc. by 185.0% during the fourth quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock valued at $29,000 after buying an additional 148 shares during the period. Institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Stock Performance

Shares of KKR & Co. Inc. stock opened at $97.01 on Monday. The company has a market capitalization of $87.10 billion, a PE ratio of 33.00, a P/E/G ratio of 0.84 and a beta of 1.80. 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 50-day simple moving average of $97.86 and a two-hundred day simple moving average of $106.55. KKR & Co. Inc. has a one year low of $82.67 and a one year high of $153.87.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings results on Friday, February 27th. The asset manager reported $1.24 EPS for the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. The business had revenue of $5.74 billion during the quarter. Research analysts expect that KKR & Co. Inc. will post 5.53 EPS for the current fiscal year.

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

KKR & Co. Inc. Increases Dividend

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

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Barclays dropped their target price on shares of KKR & Co. Inc. from $127.00 to $122.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Piper Sandler reduced their price target on shares of KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. BMO Capital Markets lowered their price target on shares of KKR & Co. Inc. from $125.00 to $106.00 and set an “outperform” rating for the company in a research report on Tuesday, March 24th. UBS Group lifted their price objective on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, The Goldman Sachs Group reduced their price objective on shares of KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $134.53.

About KKR & Co. Inc.

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.