KKR & Co. Inc. (NYSE:KKR) Stock Price Target Lowered at Piper Sandler

Key Points

• Piper Sandler lowered KKR’s price target to $121 from $128 while maintaining an “overweight” rating, implying 38.85% upside from the prior close.
• Analyst sentiment remains broadly positive: 17 analysts rate KKR a Buy and four rate it Hold, producing a “Moderate Buy” consensus and average target of $124.21.
• KKR shares traded at $87.15, near the lower end of their 12-month range, despite the company recently beating quarterly earnings estimates with $1.63 in EPS versus $1.43 expected.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) had its target price lowered by research analysts at Piper Sandler from $128.00 to $121.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an "overweight" rating on the asset manager's stock. Piper Sandler's target price suggests a potential upside of 38.85% from the stock's previous close.

A number of other research analysts have also recently issued reports on the company. TD Cowen cut their price objective on KKR & Co. Inc. from $118.00 to $103.00 and set a "hold" rating for the company in a report on Monday, October 12th. Wells Fargo & Company started coverage on shares of KKR & Co. Inc. in a report on Friday, October 2nd. They issued an "equal weight" rating and a $97.00 target price on the stock. UBS Group lowered their target price on shares of KKR & Co. Inc. from $123.00 to $122.00 and set a "buy" rating on the stock in a report on Tuesday, October 13th. Argus increased their target price on shares of KKR & Co. Inc. from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, August 4th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of KKR & Co. Inc. from $111.00 to $116.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $124.21.

KKR & Co. Inc. Price Performance

Shares of KKR traded up $0.94 during mid-day trading on Monday, reaching $87.15. The company had a trading volume of 1,299,457 shares, compared to its average volume of 5,602,514. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.09 and a quick ratio of 0.09. The company has a market capitalization of $78.23 billion, a P/E ratio of 27.74, a P/E/G ratio of 0.72 and a beta of 1.83. KKR & Co. Inc. has a twelve month low of $82.67 and a twelve month high of $144.84. The company's 50-day moving average is $100.62 and its 200-day moving average is $98.49.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The asset manager reported $1.63 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the previous year, the firm earned $1.18 EPS. On average, equities analysts anticipate that KKR & Co. Inc. will post 6.49 EPS for the current year.

Insider Activity

In other KKR & Co. Inc. news, insider Dane Holmes sold 10,000 shares of the business's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $108.58, for a total value of $1,085,800.00. Following the completion of the transaction, the insider directly owned 8,513 shares of the company's stock, valued at approximately $924,341.54. The trade was a 54.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 23.20% of the stock is owned by corporate insiders.

Institutional Trading of KKR & Co. Inc.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Horizon Bancorp Inc. IN boosted its holdings in shares of KKR & Co. Inc. by 3.8% during the first quarter. Horizon Bancorp Inc. IN now owns 2,622 shares of the asset manager's stock worth $243,000 after acquiring an additional 95 shares during the period. Western Pacific Wealth Management LP increased its stake in shares of KKR & Co. Inc. by 34.8% during the first quarter. Western Pacific Wealth Management LP now owns 387 shares of the asset manager's stock worth $36,000 after purchasing an additional 100 shares during the period. Wernau Asset Management Inc. increased its stake in shares of KKR & Co. Inc. by 1.0% during the first quarter. Wernau Asset Management Inc. now owns 10,877 shares of the asset manager's stock worth $1,006,000 after purchasing an additional 104 shares during the period. Ausdal Financial Partners Inc. increased its stake in shares of KKR & Co. Inc. by 4.4% during the second quarter. Ausdal Financial Partners Inc. now owns 2,645 shares of the asset manager's stock worth $243,000 after purchasing an additional 112 shares during the period. Finally, Mayflower Financial Advisors LLC lifted its holdings in KKR & Co. Inc. by 4.0% during the 1st quarter. Mayflower Financial Advisors LLC now owns 2,907 shares of the asset manager's stock worth $269,000 after purchasing an additional 113 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company's stock.

About KKR & Co. Inc.

KKR & Co Inc is a global investment firm that manages alternative assets for institutional investors, sovereign wealth funds, family offices, financial advisers and individual investors. The company invests across a range of asset classes, including private equity, credit, infrastructure, real estate and other investment strategies.

KKR provides investment management and related services through funds, customized investment solutions and capital markets activities. Its platform supports companies and projects with capital, strategic guidance and operational expertise.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.