Barclays Increases KKR & Co. Inc. (NYSE:KKR) Price Target to $124.00

Key Points

• Barclays raised its price target on KKR & Co. Inc. from $122 to $124 and kept an overweight rating, implying about 29% upside from the prior close.
• Other analysts were mixed on KKR, with UBS lifting its target to $126 while RBC, Morgan Stanley and BMO all adjusted targets downward; the stock currently has a Moderate Buy consensus and an average target of $133.57.
• KKR recently authorized a $500 million share repurchase plan, and the company reported $1.24 EPS on $5.74 billion in revenue in its latest earnings release.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) had its price objective upped by equities researchers at Barclays from $122.00 to $124.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the asset manager's stock. Barclays's target price would indicate a potential upside of 29.00% from the stock's previous close.

Several other brokerages have also weighed in on KKR. UBS Group boosted their price objective on KKR & Co. Inc. from $113.00 to $126.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Royal Bank Of Canada reduced their target price on 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 KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 28th. Morgan Stanley lowered their price target on KKR & Co. Inc. from $177.00 to $153.00 and set an "overweight" rating for the company in a report on Tuesday, April 21st. Finally, BMO Capital Markets dropped 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 research note on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $133.57.

KKR & Co. Inc. Price Performance

Shares of NYSE:KKR opened at $96.12 on Friday. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.70. The company has a 50-day moving average price of $95.73 and a 200 day moving average price of $102.67. The company has a market cap of $86.31 billion, a P/E ratio of 32.69, a PEG ratio of 0.81 and a beta of 1.79. KKR & Co. Inc. has a 52 week low of $82.67 and a 52 week high of $153.87.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its earnings results on Friday, February 27th. The asset manager reported $1.24 EPS for the quarter. The firm had revenue of $5.74 billion during the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%. Research analysts predict 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 authorized a share repurchase plan on Tuesday, May 5th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the asset manager to purchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of KKR. Asset Dedication LLC acquired a new position in KKR & Co. Inc. in the 3rd quarter valued at approximately $26,000. Washington Trust Advisors Inc. bought a new position in KKR & Co. Inc. in the 4th quarter valued at $27,000. Elyxium Wealth LLC bought a new stake in KKR & Co. Inc. during the fourth quarter valued at $27,000. SouthState Bank Corp boosted its stake in KKR & Co. Inc. by 185.0% during 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. Finally, Garton & Associates Financial Advisors LLC purchased a new position in KKR & Co. Inc. in the 4th quarter worth approximately $29,000. 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 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.

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