Daiichi Life Insurance Co. Ltd. Buys Shares of 33,235 KKR & Co. Inc. $KKR

Daiichi Life Insurance Co. Ltd. purchased a new position in shares of KKR & Co. Inc. (NYSE:KKR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 33,235 shares of the asset manager’s stock, valued at approximately $3,050,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KKR. Commerce Bank acquired a new stake in shares of KKR & Co. Inc. in the 2nd quarter worth approximately $12,480,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of KKR & Co. Inc. during the second quarter valued at approximately $6,445,000. Quantbot Technologies LP acquired a new position in shares of KKR & Co. Inc. during the second quarter valued at approximately $2,532,000. Varma Mutual Pension Insurance Co acquired a new position in shares of KKR & Co. Inc. during the second quarter valued at approximately $11,778,000. Finally, Westpac Banking Corp bought a new stake in KKR & Co. Inc. during the second quarter worth approximately $537,000. 76.26% of the stock is currently owned by institutional investors.

KKR & Co. Inc. Stock Up 0.1%

NYSE KKR opened at $108.59 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.09 and a quick ratio of 0.09. The company’s 50 day simple moving average is $100.09 and its 200 day simple moving average is $97.51. KKR & Co. Inc. has a 12 month low of $82.67 and a 12 month high of $152.10. The company has a market capitalization of $97.47 billion, a P/E ratio of 34.58, a PEG ratio of 0.92 and a beta of 1.78.

KKR & Co. Inc. (NYSE:KKR) last released its earnings results on Thursday, July 30th. The asset manager reported $1.63 EPS for the quarter, beating the consensus estimate of $1.43 by $0.20. The business had revenue of $5.73 billion during the quarter, compared to analyst estimates of $2.55 billion. KKR & Co. Inc. had a net margin of 14.41% and a return on equity of 5.88%. During the same period in the prior year, the business earned $1.18 earnings per share. Equities research analysts expect that KKR & Co. Inc. will post 5.68 earnings per share for the current fiscal year.

KKR & Co. Inc. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Monday, August 10th will be issued a $0.195 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.78 annualized dividend and a dividend yield of 0.7%. KKR & Co. Inc.’s dividend payout ratio is currently 24.84%.

KKR & Co. Inc. announced that its board has authorized a stock repurchase program on Tuesday, May 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the asset manager to repurchase up to 0.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

KKR has been the subject of a number of research analyst reports. Morgan Stanley cut their target price on KKR & Co. Inc. from $153.00 to $147.00 and set an “overweight” rating for the company in a research report on Tuesday, July 21st. UBS Group lifted their price target 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. Argus boosted their price objective on KKR & Co. Inc. from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Zacks Research upgraded KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. Finally, TD Cowen raised their target price on KKR & Co. Inc. from $108.00 to $111.00 and gave the company a “hold” rating in a research note on Monday, August 3rd. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $127.75.

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.