Marks Group Wealth Management Inc Has $1.64 Million Stake in KKR & Co. Inc. $KKR

Marks Group Wealth Management Inc lifted its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 173.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,831 shares of the asset manager’s stock after purchasing an additional 8,134 shares during the period. Marks Group Wealth Management Inc’s holdings in KKR & Co. Inc. were worth $1,636,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Asset Dedication LLC acquired a new position in KKR & Co. Inc. in the third quarter valued at approximately $26,000. GGM Financials LLC acquired a new position in KKR & Co. Inc. in the third quarter valued at approximately $27,000. Washington Trust Advisors Inc. acquired a new position in KKR & Co. Inc. in the fourth quarter valued at approximately $27,000. Elyxium Wealth LLC acquired a new position in KKR & Co. Inc. in the fourth quarter valued at approximately $27,000. Finally, SouthState Bank Corp lifted its holdings in KKR & Co. Inc. by 185.0% in the fourth quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock valued at $29,000 after buying an additional 148 shares during the period. 76.26% of the stock is currently owned by institutional investors and hedge funds.

KKR & Co. Inc. Stock Up 2.6%

Shares of NYSE:KKR opened at $95.67 on Wednesday. KKR & Co. Inc. has a 52 week low of $82.67 and a 52 week high of $153.87. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.08 and a current ratio of 0.08. The company has a market capitalization of $85.89 billion, a PE ratio of 32.54, a PEG ratio of 0.81 and a beta of 1.79. The company has a 50 day moving average price of $97.02 and a two-hundred day moving average price of $107.83.

KKR & Co. Inc. (NYSE:KKR) last issued its earnings results 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 firm had revenue of $5.74 billion during the quarter. Analysts forecast that KKR & Co. Inc. will post 5.51 earnings per share for the current year.

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

KKR & Co. Inc. Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on KKR. BMO Capital Markets cut their price objective on shares of KKR & Co. Inc. from $125.00 to $106.00 and set an “outperform” rating on the stock in a report on Tuesday, March 24th. TD Cowen cut their price objective on shares of KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating on the stock in a report on Monday, May 18th. Royal Bank Of Canada cut their price objective on shares of KKR & Co. Inc. from $132.00 to $128.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. Zacks Research upgraded shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. Finally, Morgan Stanley cut their price objective on shares of KKR & Co. Inc. from $177.00 to $153.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $134.53.

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.