KKR & Co. Inc. (NYSE:KKR) Price Target Raised to $124.00 at Barclays

KKR & Co. Inc. (NYSE:KKR) had its target price raised by Barclays from $122.00 to $124.00 in a research report released on Friday morning,Benzinga reports. They currently have an overweight rating on the asset manager’s stock.

KKR has been the topic of several other research reports. TD Cowen cut their price target on shares of KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating on the stock in a report on Monday, May 18th. 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 research note on Wednesday, May 6th. Piper Sandler dropped their price objective on shares of KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. BMO Capital Markets cut their price objective on shares of KKR & Co. Inc. from $125.00 to $106.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 24th. Finally, Weiss Ratings raised shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $131.85.

KKR & Co. Inc. Stock Performance

KKR traded up $0.68 on Friday, reaching $96.95. 2,839,186 shares of the stock were exchanged, compared to its average volume of 4,302,104. The company’s 50-day moving average price is $95.69 and its 200 day moving average price is $102.63. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $153.87. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a market capitalization of $87.05 billion, a PE ratio of 32.98, a PEG ratio of 0.83 and a beta of 1.79.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings data 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 for the quarter. As a group, sell-side analysts forecast that KKR & Co. Inc. will post 5.51 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a $0.195 dividend. The ex-dividend date was Friday, May 15th. This represents a $0.78 annualized dividend and a yield of 0.8%. This is a boost from KKR & Co. Inc.’s previous quarterly dividend of $0.18. KKR & Co. Inc.’s payout ratio is currently 26.53%.

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

Hedge Funds Weigh In On KKR & Co. Inc.

Several large investors have recently made changes to their positions in the company. Hudson Value Partners LLC grew its position in KKR & Co. Inc. by 4.6% during the second quarter. Hudson Value Partners LLC now owns 9,655 shares of the asset manager’s stock valued at $886,000 after buying an additional 425 shares during the period. Tema ETFs LLC raised its position in shares of KKR & Co. Inc. by 5.4% in the second quarter. Tema ETFs LLC now owns 13,909 shares of the asset manager’s stock worth $1,277,000 after acquiring an additional 712 shares during the period. Canvas Wealth Advisors LLC raised its position in shares of KKR & Co. Inc. by 4.5% in the second quarter. Canvas Wealth Advisors LLC now owns 4,538 shares of the asset manager’s stock worth $416,000 after acquiring an additional 196 shares during the period. Handelsbanken Fonder AB boosted its stake in shares of KKR & Co. Inc. by 22.3% during the 2nd quarter. Handelsbanken Fonder AB now owns 331,880 shares of the asset manager’s stock worth $30,460,000 after acquiring an additional 60,571 shares in the last quarter. Finally, Fulton Bank N.A. boosted its stake in shares of KKR & Co. Inc. by 1.1% during the 2nd quarter. Fulton Bank N.A. now owns 16,231 shares of the asset manager’s stock worth $1,490,000 after acquiring an additional 179 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

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.