Jupiter Topco LLC Invests $5 Million in KKR & Co. Inc. $KKR

Jupiter Topco LLC acquired a new stake in KKR & Co. Inc. (NYSE:KKR) in the 2nd quarter, HoldingsChannel reports. The fund acquired 54,481 shares of the asset manager’s stock, valued at approximately $4,998,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Washington Trust Advisors Inc. bought a new stake in KKR & Co. Inc. during the fourth quarter worth $27,000. Elyxium Wealth LLC bought a new position in shares of KKR & Co. Inc. in the 4th quarter valued at about $27,000. SouthState Bank Corp increased its stake in shares of 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 during the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in shares of KKR & Co. Inc. during the 4th quarter worth about $29,000. Finally, MV Capital Management Inc. bought a new stake in shares of KKR & Co. Inc. in the 4th quarter valued at about $31,000. 76.26% of the stock is owned by institutional investors.

KKR & Co. Inc. Price Performance

KKR & Co. Inc. stock opened at $109.99 on Tuesday. The company has a market capitalization of $98.73 billion, a price-to-earnings ratio of 35.03, a PEG 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 12 month low of $82.67 and a 12 month high of $152.10. The stock’s 50 day moving average is $101.42 and its 200-day moving average is $97.70.

KKR & Co. Inc. (NYSE:KKR) last announced its earnings results on Thursday, July 30th. The asset manager reported $1.63 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.73 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter in the previous year, the business posted $1.18 earnings per share. Equities research analysts expect that KKR & Co. Inc. will post 5.68 EPS for the current year.

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

KKR & Co. Inc. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Monday, August 10th were issued 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 yield of 0.7%. KKR & Co. Inc.’s payout ratio is currently 24.84%.

Wall Street Analysts Forecast Growth

KKR has been the subject of several recent analyst reports. TD Cowen raised their target price on shares of KKR & Co. Inc. from $108.00 to $111.00 and gave the company a “hold” rating in a research note on Monday, August 3rd. Oppenheimer boosted their price target on KKR & Co. Inc. from $139.00 to $166.00 and gave the stock an “outperform” rating in a research report on Thursday, August 27th. Keefe, Bruyette & Woods upgraded KKR & Co. Inc. to a “moderate buy” rating in a research note on Monday, July 20th. UBS Group raised 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. Finally, Weiss Ratings upgraded KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, June 16th. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.