KKR & Co. Inc. (NYSE:KKR) EVP Yael Cosset Sells 30,000 Shares

KKR & Co. Inc. (NYSE:KKR) EVP Yael Cosset sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 14th. The shares were sold at an average price of $58.80, for a total value of $1,764,000.00. Following the sale, the executive vice president owned 127,868 shares of the company’s stock, valued at approximately $7,518,638.40. This represents a 19.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

KKR & Co. Inc. Stock Up 3.7%

KKR stock traded up $3.62 during mid-day trading on Wednesday, reaching $100.83. 4,133,543 shares of the company traded hands, compared to its average volume of 6,089,000. 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 firm’s 50 day moving average price is $95.45 and its 200 day moving average price is $101.95. The stock has a market cap of $90.53 billion, a price-to-earnings ratio of 34.32, a P/E/G ratio of 0.82 and a beta of 1.79. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $153.87.

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

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

KKR & Co. Inc. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued 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 yield of 0.8%. This is a positive change from KKR & Co. Inc.’s previous quarterly dividend of $0.18. KKR & Co. Inc.’s payout ratio is presently 26.53%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on KKR. Piper Sandler cut their target price on 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. BMO Capital Markets lowered their price target on shares of KKR & Co. Inc. from $120.00 to $112.00 and set an “outperform” rating on the stock in a research report on Monday. Oppenheimer cut their price target on KKR & Co. Inc. from $187.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, April 13th. Weiss Ratings upgraded KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, June 16th. Finally, Royal Bank Of Canada reduced their target price on KKR & Co. Inc. from $128.00 to $125.00 and set an “outperform” rating for the company in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, KKR & Co. Inc. presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.58.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in KKR. Vanguard Group Inc. increased its stake in shares of KKR & Co. Inc. by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 60,064,587 shares of the asset manager’s stock worth $7,657,034,000 after buying an additional 821,739 shares during the period. Principal Financial Group Inc. increased its holdings in KKR & Co. Inc. by 6.9% during the 1st quarter. Principal Financial Group Inc. now owns 19,507,741 shares of the asset manager’s stock valued at $1,804,470,000 after purchasing an additional 1,261,314 shares during the period. Geode Capital Management LLC lifted its holdings in KKR & Co. Inc. by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 14,995,742 shares of the asset manager’s stock worth $1,903,220,000 after buying an additional 146,285 shares during the period. Norges Bank bought a new stake in shares of KKR & Co. Inc. in the 4th quarter worth approximately $1,715,929,000. Finally, First Manhattan CO. LLC. increased its stake in shares of KKR & Co. Inc. by 0.8% during the fourth quarter. First Manhattan CO. LLC. now owns 8,597,044 shares of the asset manager’s stock valued at $1,095,951,000 after buying an additional 67,441 shares during the period. 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.