Corient Private Wealth LP Purchases Shares of 342,300 KKR & Co. Inc. $KKR

Corient Private Wealth LP purchased a new position in shares of KKR & Co. Inc. (NYSE:KKR) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 342,300 shares of the asset manager’s stock, valued at approximately $31,416,000.

Several other institutional investors have also recently bought and sold shares of KKR. Washington Trust Advisors Inc. acquired a new stake in shares of KKR & Co. Inc. in the fourth quarter valued at $27,000. Elyxium Wealth LLC acquired a new position in KKR & Co. Inc. during the 4th quarter worth about $27,000. SouthState Bank Corp lifted its position 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 buying an additional 148 shares in the last quarter. Garton & Associates Financial Advisors LLC bought a new stake in KKR & Co. Inc. during the 4th quarter worth about $29,000. Finally, MV Capital Management Inc. bought a new stake in KKR & Co. Inc. during the 4th quarter worth about $31,000. Institutional investors own 76.26% of the company’s stock.

Wall Street Analyst Weigh In

KKR has been the subject of a number of research analyst reports. Morgan Stanley dropped their target price on shares of KKR & Co. Inc. from $153.00 to $147.00 and set an “overweight” rating for the company in a research note on Tuesday, July 21st. 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. Keefe, Bruyette & Woods raised shares of KKR & Co. Inc. to a “moderate buy” rating in a report on Monday, July 20th. TD Cowen upped their price objective on KKR & Co. Inc. from $108.00 to $111.00 and gave the stock a “hold” rating in a report on Monday, August 3rd. Finally, UBS Group increased their price objective on KKR & Co. Inc. from $113.00 to $126.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $130.00.

KKR & Co. Inc. Stock Up 0.8%

Shares of NYSE KKR opened at $109.33 on Friday. The firm has a market capitalization of $98.14 billion, a PE ratio of 34.82, a price-to-earnings-growth ratio of 0.92 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 $100.93 and its 200-day moving average is $97.67.

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. announced that its Board of Directors has authorized a share repurchase plan on Tuesday, May 5th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the asset manager to purchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

KKR & Co. Inc. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Monday, August 10th were paid a $0.195 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.7%. KKR & Co. Inc.’s dividend payout ratio is 24.84%.

KKR & Co. Inc. 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.