Janus Henderson Group PLC Cuts Position in KKR & Co. Inc. $KKR

Janus Henderson Group PLC lessened its position in KKR & Co. Inc. (NYSE:KKR) by 38.0% during the first quarter, Holdings Channel reports. The fund owned 67,213 shares of the asset manager’s stock after selling 41,164 shares during the period. Janus Henderson Group PLC’s holdings in KKR & Co. Inc. were worth $6,220,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in KKR. Norges Bank bought a new stake in KKR & Co. Inc. during the fourth quarter worth about $1,715,929,000. Viking Global Investors LP bought a new position in shares of KKR & Co. Inc. during the 3rd quarter valued at about $352,038,000. Temasek Holdings Private Ltd raised its holdings in shares of KKR & Co. Inc. by 164.4% during the 1st quarter. Temasek Holdings Private Ltd now owns 3,522,797 shares of the asset manager’s stock valued at $325,859,000 after buying an additional 2,190,248 shares in the last quarter. Farallon Capital Management LLC purchased a new position in shares of KKR & Co. Inc. during the 4th quarter valued at about $257,216,000. Finally, Amundi lifted its position in KKR & Co. Inc. by 65.3% in the 1st quarter. Amundi now owns 3,726,040 shares of the asset manager’s stock worth $344,659,000 after buying an additional 1,472,265 shares during the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Stock Down 2.1%

Shares of KKR & Co. Inc. stock opened at $103.41 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.08 and a current ratio of 0.08. KKR & Co. Inc. has a 52-week low of $82.67 and a 52-week high of $152.10. The company’s 50 day moving average price is $96.90 and its 200-day moving average price is $98.34. The stock has a market capitalization of $92.85 billion, a price-to-earnings ratio of 32.93, a P/E/G ratio of 0.91 and a beta of 1.78.

KKR & Co. Inc. (NYSE:KKR) last posted its quarterly earnings results on Thursday, July 30th. The asset manager reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.20. The company 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 5.89%. During the same period in the prior year, the business posted $1.18 EPS. Equities research analysts forecast that KKR & Co. Inc. will post 5.66 EPS for the current year.

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

KKR & Co. Inc. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Monday, August 10th will be issued a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, August 10th. KKR & Co. Inc.’s dividend payout ratio is currently 24.84%.

KKR & Co. Inc. News Roundup

Here are the key news stories impacting KKR & Co. Inc. this week:

• Positive Sentiment: KKR agreed to acquire Medicover’s India hospital business for approximately €1.2 billion. The transaction expands KKR’s healthcare portfolio in India and could provide exposure to a growing medical-services market. Medicover to sell India hospital business to KKR for €1.2 billion
• Positive Sentiment: KKR closed its Global Infrastructure Investors V fund with $19.2 billion available for investment. The fundraising reinforces the firm’s ability to attract institutional capital and supports future fee-generating asset growth. KKR closes Global Infrastructure Investors V fund
• Positive Sentiment: KKR is reportedly taking medical-equipment maker Integer Holdings private in a roughly $5.7 billion transaction and is arranging about $2 billion of debt financing. The deal could increase KKR’s assets under management and future management-fee potential. KKR to take Integer Holdings private
• Positive Sentiment: Analysts raised their KKR price targets to $118 at BMO Capital Markets and $111 at TD Cowen, while Argus forecast strong appreciation. These revisions suggest improving analyst confidence in KKR’s earnings and growth outlook. BMO raises KKR price target
• Neutral Sentiment: A separate company, FS KKR Capital Corp. (NYSE: FSK), reported quarterly results and declared a $0.44 distribution. This is not an operating update for KKR & Co. Inc. and should have limited direct effect on KKR stock. FS KKR Capital quarterly results
• Negative Sentiment: Investors purchased a large volume of KKR put options, signaling increased demand for downside protection or bearish positioning. This may contribute to short-term pressure, although options activity is not a fundamental indicator. KKR put-option activity

Wall Street Analyst Weigh In

Several analysts have issued reports on KKR shares. TD Cowen upped their target price on KKR & Co. Inc. from $108.00 to $111.00 and gave the stock a “hold” rating in a research note on Monday. Zacks Research upgraded shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. UBS Group upped 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. Barclays increased their target price on shares of KKR & Co. Inc. from $124.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Finally, Royal Bank Of Canada lifted their target price on shares of KKR & Co. Inc. from $125.00 to $134.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, KKR & Co. Inc. has a consensus rating of “Moderate Buy” and an average 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.