Man Group plc Invests $5.97 Million in KKR & Co. Inc. $KKR

Man Group plc bought a new position in KKR & Co. Inc. (NYSE:KKR) during the second quarter, Holdings Channel reports. The fund bought 65,085 shares of the asset manager’s stock, valued at approximately $5,974,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Praxis Investment Management Inc. raised its holdings in KKR & Co. Inc. by 0.9% in the fourth quarter. Praxis Investment Management Inc. now owns 10,006 shares of the asset manager’s stock worth $1,276,000 after buying an additional 94 shares during the last quarter. Horizon Bancorp Inc. IN grew its holdings in shares of KKR & Co. Inc. by 3.8% in the first quarter. Horizon Bancorp Inc. IN now owns 2,622 shares of the asset manager’s stock worth $243,000 after acquiring an additional 95 shares during the period. Western Pacific Wealth Management LP grew its holdings in shares of KKR & Co. Inc. by 34.8% in the first quarter. Western Pacific Wealth Management LP now owns 387 shares of the asset manager’s stock worth $36,000 after acquiring an additional 100 shares during the period. Wernau Asset Management Inc. increased its position in KKR & Co. Inc. by 1.0% during the first quarter. Wernau Asset Management Inc. now owns 10,877 shares of the asset manager’s stock valued at $1,006,000 after acquiring an additional 104 shares during the last quarter. Finally, Mission Wealth Management LP lifted its holdings in KKR & Co. Inc. by 0.5% in the fourth quarter. Mission Wealth Management LP now owns 20,567 shares of the asset manager’s stock valued at $2,622,000 after acquiring an additional 110 shares during the period. Institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Stock Performance

KKR opened at $108.74 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.09 and a current ratio of 0.09. The stock has a market capitalization of $97.61 billion, a price-to-earnings ratio of 34.63, a PEG ratio of 0.92 and a beta of 1.78. The company has a fifty day moving average of $101.16 and a 200 day moving average of $97.74. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $152.10.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings results on Thursday, July 30th. The asset manager reported $1.63 earnings per share 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 business had revenue of $5.73 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter last year, the business posted $1.18 EPS. As a group, sell-side analysts forecast that KKR & Co. Inc. will post 5.68 earnings per share for the current fiscal 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 outstanding 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 typically an indication that the company’s board believes its stock is undervalued.

KKR & Co. Inc. Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 0.7%. KKR & Co. Inc.’s dividend payout ratio is currently 24.84%.

More KKR & Co. Inc. News

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

• Positive Sentiment: Strong analyst price-target increase: Oppenheimer raised its KKR price target from $139 to $166 and reiterated an “outperform” rating, implying substantial upside from recent levels. Benzinga analyst rating report
• Positive Sentiment: Expansion in private aviation infrastructure: Apollo-managed funds acquired a significant interest in Atlantic Aviation, while KKR-managed funds remain a substantial shareholder. The partnership could support Atlantic Aviation’s growth and preserve KKR’s exposure to a potentially attractive infrastructure platform. Apollo Funds and KKR Announce Strategic Partnership
• Positive Sentiment: New infrastructure investment: KKR and Apollo are partnering with Enbridge on approximately C$2.7 billion of expansions to the Westcoast natural-gas pipeline system in British Columbia, expanding KKR’s exposure to energy infrastructure and long-term contracted assets. Enbridge, KKR form joint venture
• Positive Sentiment: AI data-center exposure: KKR is investing in SK Telecom’s newly launched SK Horizon, an AI data-center infrastructure company. The deal gives KKR participation in the expanding demand for data-center capacity and digital infrastructure. SK Horizon investment announcement
• Neutral Sentiment: Antitrust case resolution: KKR agreed to a stipulation and order with the U.S. Department of Justice, potentially removing some uncertainty, although the settlement also highlights ongoing regulatory and legal risks. KKR reaches settlement in DOJ antitrust case
• Neutral Sentiment: Fixed-income appeal: An analysis described KKR’s “baby bonds” as offering potential capital appreciation, but this is an investment view on the company’s debt securities rather than a direct earnings catalyst for common stock. KKR baby bonds analysis
• Negative Sentiment: Reported fraud investigation: A law firm is seeking KKR investors to participate in a fraud investigation, creating potential litigation, reputational, and financial risks. The notice does not establish wrongdoing, but it may weigh on sentiment. KKR investor fraud investigation notice

Wall Street Analysts Forecast Growth

KKR has been the topic of a number of research reports. Argus raised their price objective on shares of KKR & Co. Inc. from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Oppenheimer upped their price objective on KKR & Co. Inc. from $139.00 to $166.00 and gave the stock an “outperform” rating in a research note on Thursday. UBS Group raised their target price on KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. 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. Finally, Zacks Research raised KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, KKR & Co. Inc. presently has an average rating of “Moderate Buy” and a consensus target price of $130.00.

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.