Perigon Wealth Management LLC Purchases New Position in KKR & Co. Inc. $KKR

Perigon Wealth Management LLC acquired a new position in shares of KKR & Co. Inc. (NYSE:KKR) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 5,355 shares of the asset manager’s stock, valued at approximately $491,000.

Several other hedge funds also recently modified their holdings of KKR. Washington Trust Advisors Inc. acquired a new position in shares of KKR & Co. Inc. in the 4th quarter worth approximately $27,000. Elyxium Wealth LLC bought a new position in KKR & Co. Inc. in the 4th quarter valued at $27,000. SouthState Bank Corp boosted its stake in KKR & Co. Inc. by 185.0% in the fourth quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock worth $29,000 after purchasing an additional 148 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in KKR & Co. Inc. in the fourth quarter worth $29,000. Finally, MV Capital Management Inc. bought a new stake in shares of KKR & Co. Inc. during the fourth quarter worth $31,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

KKR & Co. Inc. Stock Up 2.9%

NYSE:KKR opened at $110.32 on Thursday. The company has a quick ratio of 0.09, a current 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 fifty day simple moving average is $99.60 and its 200-day simple moving average is $97.60. The firm has a market capitalization of $99.03 billion, a P/E ratio of 35.13, a P/E/G ratio of 0.92 and a beta of 1.78.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings data on Thursday, July 30th. The asset manager reported $1.63 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $2.55 billion. During the same quarter in the prior year, the company posted $1.18 earnings per share. Equities research analysts expect that KKR & Co. Inc. will post 5.68 earnings per share for the current year.

KKR & Co. Inc. declared that its Board of Directors has initiated a share buyback plan on Tuesday, May 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the asset manager to reacquire up to 0.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

KKR & Co. Inc. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Monday, August 10th will be paid a $0.195 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.7%. KKR & Co. Inc.’s dividend payout ratio is 24.84%.

Analyst Ratings Changes

A number of research analysts recently issued reports on KKR shares. Weiss Ratings raised KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, June 16th. Morgan Stanley decreased their price objective on shares of KKR & Co. Inc. from $153.00 to $147.00 and set an “overweight” rating on the stock in a report on Tuesday, July 21st. Keefe, Bruyette & Woods raised shares of KKR & Co. Inc. to a “moderate buy” rating in a research note on Monday, July 20th. HSBC upped their target price on shares of KKR & Co. Inc. from $118.00 to $121.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Finally, Argus increased their price target on shares of KKR & Co. Inc. from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $127.75.

More KKR & Co. Inc. News

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

• Positive Sentiment: Expansion into Indian live entertainment: KKR agreed to acquire a minority stake in BookMyShow, India’s leading ticketing and live-entertainment platform. The investment gives KKR exposure to growth in concerts and events, including major international tours, and could generate future management and performance fees. Financial terms were not disclosed. KKR Invests in Indian Ticketing and Live Entertainment Platform BookMyShow
• Positive Sentiment: Potential UGI acquisition: Reports say KKR has offered approximately $9 billion to acquire UGI Corp., a U.S. natural-gas and electricity distributor. A successful transaction would materially expand KKR’s infrastructure and energy portfolio, though the offer is unsolicited and remains subject to negotiations and potential regulatory review. KKR makes $9 billion takeover bid for UGI
• Positive Sentiment: Additional healthcare opportunity: KKR reportedly emerged as the preferred bidder for a minority stake in Malaysia’s Avisena Healthcare, potentially valuing the company at about $370 million. The deal would add to KKR’s exposure to private healthcare in Asia, although it has not been finalized. KKR leads bidding race for minority stake in Malaysia’s Avisena
• Neutral Sentiment: Commentary highlighted KKR’s long-term investment platform and an 85 GF Score, but these are opinions and do not represent new company fundamentals. Broader market support from easing inflation and reduced interest-rate concerns may also benefit alternative-asset managers.
• Negative Sentiment: First Philippine Holdings reportedly rejected KKR’s initial bid for a stake in First Gen, showing that competitive bidding and execution risks could limit KKR’s ability to deploy capital in attractive infrastructure assets. FPH spurns KKR’s First Gen bid

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.