HSBC Boosts KKR & Co. Inc. (NYSE:KKR) Price Target to $121.00

KKR & Co. Inc. (NYSE:KKR) had its target price raised by analysts at HSBC from $118.00 to $121.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the asset manager’s stock. HSBC’s price target would suggest a potential upside of 19.88% from the stock’s current price.

Several other equities analysts also recently weighed in on KKR. UBS Group lifted their target price on KKR & Co. Inc. from $113.00 to $126.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Piper Sandler cut their target price on shares of KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. Zacks Research upgraded shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. Barclays boosted their target price on shares of KKR & Co. Inc. from $122.00 to $124.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. Finally, Royal Bank Of Canada cut their price target on shares of KKR & Co. Inc. from $128.00 to $125.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, KKR & Co. Inc. presently has an average rating of “Moderate Buy” and a consensus price target of $128.58.

KKR & Co. Inc. Stock Performance

Shares of KKR opened at $100.94 on Monday. 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 stock has a market cap of $90.63 billion, a P/E ratio of 34.33, a P/E/G ratio of 0.84 and a beta of 1.79. The business’s 50 day moving average price is $95.46 and its 200-day moving average price is $101.34. KKR & Co. Inc. has a 52 week low of $82.67 and a 52 week high of $153.87.

KKR & Co. Inc. (NYSE:KKR) last issued its earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share 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 during the quarter. Equities research analysts anticipate that KKR & Co. Inc. will post 5.58 earnings per share for the current fiscal year.

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

Insider Activity at KKR & Co. Inc.

In related news, EVP Yael Cosset sold 30,000 shares of KKR & Co. Inc. stock in a transaction dated Tuesday, July 14th. The stock was sold at an average price of $58.80, for a total value of $1,764,000.00. Following the completion of the sale, the executive vice president owned 127,868 shares of the company’s stock, valued at approximately $7,518,638.40. This trade represents a 19.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 23.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Border to Coast Pensions Partnership Ltd grew its stake in KKR & Co. Inc. by 14.5% in the 1st quarter. Border to Coast Pensions Partnership Ltd now owns 435,000 shares of the asset manager’s stock valued at $40,361,000 after acquiring an additional 55,000 shares during the period. Third View Private Wealth LLC acquired a new stake in shares of KKR & Co. Inc. in the fourth quarter valued at $3,126,000. Concurrent Investment Advisors LLC raised its holdings in shares of KKR & Co. Inc. by 125.6% in the 4th quarter. Concurrent Investment Advisors LLC now owns 19,728 shares of the asset manager’s stock valued at $2,515,000 after purchasing an additional 10,982 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of KKR & Co. Inc. by 152.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 174,004 shares of the asset manager’s stock worth $22,182,000 after buying an additional 105,070 shares during the last quarter. Finally, Brookstone Capital Management lifted its stake in KKR & Co. Inc. by 26.6% in the fourth quarter. Brookstone Capital Management now owns 125,779 shares of the asset manager’s stock valued at $16,034,000 after buying an additional 26,401 shares during the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

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.