Principle Wealth Partners LLC Purchases New Shares in KKR & Co. Inc. $KKR

Principle Wealth Partners LLC acquired a new stake in KKR & Co. Inc. (NYSE:KKR) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 5,030 shares of the asset manager’s stock, valued at approximately $462,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of KKR. Norges Bank bought a new position in shares of KKR & Co. Inc. in the fourth quarter valued at about $1,715,929,000. Bank of New York Mellon Corp acquired a new position in KKR & Co. Inc. during the 2nd quarter worth about $298,311,000. Viking Global Investors LP bought a new stake in KKR & Co. Inc. during the 3rd quarter worth about $352,038,000. Temasek Holdings Private Ltd grew its holdings 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 worth $325,859,000 after acquiring an additional 2,190,248 shares during the last quarter. Finally, Farallon Capital Management LLC acquired a new stake in KKR & Co. Inc. in the 4th quarter valued at about $257,216,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

KKR & Co. Inc. Stock Down 4.3%

Shares of NYSE KKR opened at $109.08 on Tuesday. The firm has a market capitalization of $97.91 billion, a PE ratio of 34.74, a price-to-earnings-growth ratio of 0.97 and a beta of 1.78. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.71. KKR & Co. Inc. has a 1 year low of $82.67 and a 1 year high of $152.10. The firm’s 50-day moving average is $99.07 and its 200-day moving average is $97.70.

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

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

KKR & Co. Inc. Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on KKR shares. Oppenheimer reduced their target price on shares of KKR & Co. Inc. from $143.00 to $139.00 and set an “outperform” rating on the stock in a research report on Friday, July 17th. Argus raised their price target on shares of KKR & Co. Inc. from $115.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. BMO Capital Markets boosted their price objective on shares of KKR & Co. Inc. from $112.00 to $118.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Weiss Ratings raised KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, June 16th. Finally, Royal Bank Of Canada increased their price objective on KKR & Co. Inc. from $125.00 to $134.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.