NewEdge Advisors LLC Sells 39,126 Shares of KKR & Co. Inc. $KKR

NewEdge Advisors LLC trimmed its stake in KKR & Co. Inc. (NYSE:KKR) by 37.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,649 shares of the asset manager’s stock after selling 39,126 shares during the period. NewEdge Advisors LLC’s holdings in KKR & Co. Inc. were worth $5,980,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of KKR & Co. Inc. in the fourth quarter valued at approximately $1,715,929,000. Viking Global Investors LP bought a new stake in KKR & Co. Inc. during the 3rd quarter valued at $352,038,000. Temasek Holdings Private Ltd raised its position in 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 purchasing an additional 2,190,248 shares in the last quarter. Farallon Capital Management LLC purchased a new stake in shares of KKR & Co. Inc. in the 4th quarter worth $257,216,000. Finally, Amundi lifted its holdings in shares of 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 period. 76.26% of the stock is currently owned by institutional investors.

KKR & Co. Inc. Price Performance

Shares of KKR opened at $103.65 on Tuesday. The company has a 50 day moving average of $97.21 and a two-hundred day moving average of $98.00. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.71. KKR & Co. Inc. has a twelve month low of $82.67 and a twelve month high of $152.10. The company has a market cap of $93.04 billion, a price-to-earnings ratio of 33.01, a price-to-earnings-growth ratio of 0.88 and a beta of 1.78.

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

KKR & Co. Inc. declared that its board has initiated a stock 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 reacquire up to 0.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

KKR & Co. Inc. Announces Dividend

The firm 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. This represents a $0.78 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, August 10th. KKR & Co. Inc.’s dividend payout ratio (DPR) is currently 24.84%.

Analyst Ratings Changes

KKR has been the topic of several research reports. Royal Bank Of Canada raised their price target on KKR & Co. Inc. from $125.00 to $134.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Zacks Research raised shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. Weiss Ratings upgraded shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, June 16th. Barclays raised their target price on shares of KKR & Co. Inc. from $124.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Finally, Oppenheimer reduced their price target on shares of KKR & Co. Inc. from $143.00 to $139.00 and set an “outperform” rating for the company in a report on Friday, July 17th. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $127.75.

About KKR & Co. Inc.

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.