Royal Bank Of Canada Initiates Coverage on KKR & Co. Inc. (NYSE:KKR)

Investment analysts at Royal Bank Of Canada began coverage on shares of KKR & Co. Inc. (NYSE:KKR) in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm set an “outperform” rating and a $137.00 price target on the asset manager’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 48.89% from the stock’s current price.

Other analysts have also recently issued reports about the company. HSBC raised KKR & Co. Inc. from a “hold” rating to a “buy” rating and set a $144.00 target price for the company in a research note on Wednesday, January 28th. Barclays cut their price objective on shares of KKR & Co. Inc. from $159.00 to $136.00 and set an “overweight” rating on the stock in a research report on Friday, February 6th. TD Cowen lowered shares of KKR & Co. Inc. from a “buy” rating to a “hold” rating and cut their price objective for the stock from $146.00 to $131.00 in a research report on Wednesday, January 14th. Oppenheimer decreased their target price on shares of KKR & Co. Inc. from $190.00 to $187.00 and set an “outperform” rating for the company in a research report on Friday, February 6th. Finally, UBS Group cut their price target on shares of KKR & Co. Inc. from $168.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, KKR & Co. Inc. presently has an average rating of “Moderate Buy” and an average price target of $152.40.

KKR & Co. Inc. Stock Down 9.1%

Shares of KKR opened at $92.01 on Tuesday. The business’s 50 day simple moving average is $120.13 and its 200-day simple moving average is $126.76. KKR & Co. Inc. has a one year low of $86.15 and a one year high of $153.87. The company has a market capitalization of $82.02 billion, a P/E ratio of 39.32, a PEG ratio of 0.80 and a beta of 1.99. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.09 and a quick ratio of 0.09.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings data on Thursday, February 5th. The asset manager reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). KKR & Co. Inc. had a net margin of 11.97% and a return on equity of 5.77%. The business had revenue of $5.93 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the previous year, the business posted $1.32 earnings per share. KKR & Co. Inc.’s revenue was up 76.1% compared to the same quarter last year. As a group, sell-side analysts predict that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

Insider Activity

In other KKR & Co. Inc. news, CEO Scott C. Nuttall purchased 125,000 shares of KKR & Co. Inc. stock in a transaction that occurred on Tuesday, February 17th. The stock was acquired at an average price of $102.66 per share, for a total transaction of $12,832,500.00. Following the completion of the acquisition, the chief executive officer owned 15,503,748 shares of the company’s stock, valued at approximately $1,591,614,769.68. This trade represents a 0.81% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Timothy R. Barakett purchased 50,000 shares of the stock in a transaction on Monday, February 9th. The shares were acquired at an average cost of $104.93 per share, for a total transaction of $5,246,500.00. Following the transaction, the director owned 235,000 shares of the company’s stock, valued at approximately $24,658,550. The trade was a 27.03% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have acquired 343,872 shares of company stock valued at $35,367,179. Company insiders own 39.34% of the company’s stock.

Hedge Funds Weigh In On KKR & Co. Inc.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of KKR & Co. Inc. in the fourth quarter valued at about $1,715,929,000. Strive Asset Management LLC bought a new position in KKR & Co. Inc. in the 3rd quarter valued at about $535,907,000. Viking Global Investors LP acquired a new stake in KKR & Co. Inc. during the third quarter worth approximately $352,038,000. Farallon Capital Management LLC bought a new stake in shares of KKR & Co. Inc. during the fourth quarter worth approximately $257,216,000. Finally, Close Asset Management Ltd grew its position in shares of KKR & Co. Inc. by 4,155.1% in the third quarter. Close Asset Management Ltd now owns 1,515,299 shares of the asset manager’s stock valued at $196,845,000 after purchasing an additional 1,479,688 shares during the last quarter. 76.26% of the stock is owned by institutional investors.

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.