Deutsche Bank AG Takes $148.54 Million Position in KKR & Co. Inc. $KKR

Deutsche Bank AG acquired a new position in shares of KKR & Co. Inc. (NYSE:KKR) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 1,618,481 shares of the asset manager’s stock, valued at approximately $148,544,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in KKR. Washington Trust Advisors Inc. bought a new stake in KKR & Co. Inc. in the 4th quarter valued at $27,000. Elyxium Wealth LLC bought a new position in KKR & Co. Inc. during the 4th quarter worth about $27,000. SouthState Bank Corp increased its holdings in KKR & Co. Inc. by 185.0% during the 4th quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock worth $29,000 after purchasing an additional 148 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new stake in shares of KKR & Co. Inc. in the 4th quarter valued at about $29,000. Finally, MV Capital Management Inc. acquired a new stake in shares of KKR & Co. Inc. in the 4th quarter valued at about $31,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.

KKR & Co. Inc. Stock Up 2.9%

Shares of KKR stock opened at $110.32 on Thursday. 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 fifty day moving average price is $99.60 and its two-hundred day moving average price is $97.60. The firm has a market capitalization of $99.03 billion, a P/E ratio of 35.13, a PEG ratio of 0.92 and a beta of 1.78.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings results on Thursday, July 30th. The asset manager reported $1.63 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $5.73 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same period in the previous year, the firm posted $1.18 EPS. On average, equities analysts predict that KKR & Co. Inc. will post 5.68 EPS for the current fiscal year.

KKR & Co. Inc. Announces Dividend

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

KKR & Co. Inc. declared that its board has authorized a share buyback plan on Tuesday, May 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the asset manager to purchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Key KKR & Co. Inc. News

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

• Positive Sentiment: Expansion into Indian live entertainment: KKR agreed to acquire a minority stake in BookMyShow, India’s leading ticketing and live-entertainment platform. The investment gives KKR exposure to growth in concerts and events, including major international tours, and could generate future management and performance fees. Financial terms were not disclosed. KKR Invests in Indian Ticketing and Live Entertainment Platform BookMyShow
• Positive Sentiment: Potential UGI acquisition: Reports say KKR has offered approximately $9 billion to acquire UGI Corp., a U.S. natural-gas and electricity distributor. A successful transaction would materially expand KKR’s infrastructure and energy portfolio, though the offer is unsolicited and remains subject to negotiations and potential regulatory review. KKR makes $9 billion takeover bid for UGI
• Positive Sentiment: Additional healthcare opportunity: KKR reportedly emerged as the preferred bidder for a minority stake in Malaysia’s Avisena Healthcare, potentially valuing the company at about $370 million. The deal would add to KKR’s exposure to private healthcare in Asia, although it has not been finalized. KKR leads bidding race for minority stake in Malaysia’s Avisena
• Neutral Sentiment: Commentary highlighted KKR’s long-term investment platform and an 85 GF Score, but these are opinions and do not represent new company fundamentals. Broader market support from easing inflation and reduced interest-rate concerns may also benefit alternative-asset managers.
• Negative Sentiment: First Philippine Holdings reportedly rejected KKR’s initial bid for a stake in First Gen, showing that competitive bidding and execution risks could limit KKR’s ability to deploy capital in attractive infrastructure assets. FPH spurns KKR’s First Gen bid

Analyst Upgrades and Downgrades

A number of analysts have recently commented on KKR shares. BMO Capital Markets boosted their price target on KKR & Co. Inc. from $112.00 to $118.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Zacks Research upgraded KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. Barclays lifted their target price on KKR & Co. Inc. from $124.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Oppenheimer cut their target price on KKR & Co. Inc. from $143.00 to $139.00 and set an “outperform” rating on the stock in a research note on Friday, July 17th. Finally, Argus upped their price target on KKR & Co. Inc. from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.