TD Asset Management Inc Cuts Stock Holdings in KKR & Co. Inc. $KKR

TD Asset Management Inc trimmed its holdings in shares of KKR & Co. Inc. (NYSE:KKR) by 4.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 280,775 shares of the asset manager’s stock after selling 13,390 shares during the period. TD Asset Management Inc’s holdings in KKR & Co. Inc. were worth $35,793,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Cibc World Market Inc. boosted its holdings in shares of KKR & Co. Inc. by 261.1% during the fourth quarter. Cibc World Market Inc. now owns 172,474 shares of the asset manager’s stock worth $21,987,000 after purchasing an additional 124,713 shares during the period. Bowen Hanes & Co. Inc. boosted its holdings in shares of KKR & Co. Inc. by 115.2% during the fourth quarter. Bowen Hanes & Co. Inc. now owns 119,195 shares of the asset manager’s stock worth $15,195,000 after purchasing an additional 63,815 shares during the period. Jackson Hill Advisors LLC boosted its holdings in shares of KKR & Co. Inc. by 1.8% during the fourth quarter. Jackson Hill Advisors LLC now owns 142,000 shares of the asset manager’s stock worth $18,102,000 after purchasing an additional 2,500 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of KKR & Co. Inc. by 67.2% during the fourth quarter. CIBC Asset Management Inc now owns 167,527 shares of the asset manager’s stock worth $21,356,000 after purchasing an additional 67,304 shares during the period. Finally, Westpac Banking Corp boosted its holdings in shares of KKR & Co. Inc. by 62.1% during the fourth quarter. Westpac Banking Corp now owns 7,778 shares of the asset manager’s stock worth $992,000 after purchasing an additional 2,980 shares during the period. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on KKR. Morgan Stanley dropped their target price on shares of KKR & Co. Inc. from $177.00 to $153.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. Piper Sandler dropped their target price on shares of KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. Royal Bank Of Canada dropped their target price on shares of KKR & Co. Inc. from $132.00 to $128.00 and set an “outperform” rating for the company in a report on Wednesday, May 6th. UBS Group increased their target price on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, The Goldman Sachs Group dropped their target price on shares of KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $134.53.

KKR & Co. Inc. Stock Performance

Shares of KKR opened at $93.51 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.08 and a quick ratio of 0.08. KKR & Co. Inc. has a one year low of $82.67 and a one year high of $153.87. The company has a 50-day simple moving average of $96.81 and a two-hundred day simple moving average of $108.17. The firm has a market capitalization of $83.96 billion, a PE ratio of 31.81, a price-to-earnings-growth ratio of 0.81 and a beta of 1.79.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings data on Friday, February 27th. The asset manager reported $1.24 EPS for the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. The business had revenue of $5.74 billion during the quarter. On average, analysts anticipate that KKR & Co. Inc. will post 5.51 EPS for the current fiscal year.

KKR & Co. Inc. declared that its Board of Directors has authorized a share buyback plan on Tuesday, May 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the asset manager to buy up to 0.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

KKR & Co. Inc. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a $0.195 dividend. This represents a $0.78 annualized dividend and a yield of 0.8%. This is a boost from KKR & Co. Inc.’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, May 15th. KKR & Co. Inc.’s dividend payout ratio (DPR) is 26.53%.

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.