Midwest Trust Co Boosts Stake in KKR & Co. Inc. $KKR

Midwest Trust Co boosted its position in shares of KKR & Co. Inc. (NYSE:KKR) by 10.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 141,805 shares of the asset manager’s stock after acquiring an additional 13,816 shares during the period. Midwest Trust Co’s holdings in KKR & Co. Inc. were worth $13,117,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in KKR. Vanguard Group Inc. raised its holdings in shares of KKR & Co. Inc. by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 60,064,587 shares of the asset manager’s stock worth $7,657,034,000 after acquiring an additional 821,739 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of KKR & Co. Inc. by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 14,995,742 shares of the asset manager’s stock valued at $1,903,220,000 after purchasing an additional 146,285 shares in the last quarter. Norges Bank bought a new stake in KKR & Co. Inc. in the fourth quarter worth $1,715,929,000. First Manhattan CO. LLC. increased its position in KKR & Co. Inc. by 0.8% in the fourth quarter. First Manhattan CO. LLC. now owns 8,597,044 shares of the asset manager’s stock worth $1,095,951,000 after purchasing an additional 67,441 shares during the last quarter. Finally, Capital Research Global Investors raised its stake in KKR & Co. Inc. by 0.4% during the fourth quarter. Capital Research Global Investors now owns 5,602,262 shares of the asset manager’s stock valued at $714,195,000 after purchasing an additional 23,483 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Stock Performance

KKR & Co. Inc. stock opened at $96.95 on Monday. 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 P/E ratio of 32.98, a price-to-earnings-growth ratio of 0.82 and a beta of 1.79. KKR & Co. Inc. has a 1-year low of $82.67 and a 1-year high of $153.87. The company’s 50-day moving average is $95.69 and its 200 day moving average is $102.42.

KKR & Co. Inc. (NYSE:KKR) last announced its earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share (EPS) for the quarter. The business had revenue of $5.74 billion during the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%. Research analysts forecast that KKR & Co. Inc. will post 5.55 EPS for the current year.

KKR & Co. Inc. declared that its Board of Directors has approved a stock buyback plan on Tuesday, May 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the asset manager to buy up to 0.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

KKR & Co. Inc. Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have commented on KKR. Piper Sandler lowered their price objective on shares of KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. Weiss Ratings upgraded shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, June 16th. 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 report on Tuesday, March 24th. Oppenheimer dropped their price target on KKR & Co. Inc. from $187.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, April 13th. Finally, Royal Bank Of Canada decreased their price objective on KKR & Co. Inc. from $132.00 to $128.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, KKR & Co. Inc. currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.85.

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.