23,251 Shares in KKR & Co. Inc. $KKR Purchased by North Dakota State Investment Board

Key Points

• North Dakota State Investment Board opened a new position in KKR & Co. Inc. in the fourth quarter, buying 23,251 shares valued at about $2.96 million.
• Institutional interest in KKR remains high, with hedge funds and other investors making additional moves; overall, institutions own 76.26% of the stock.
• KKR has seen mixed analyst sentiment, but the consensus still leans Moderate Buy with a target price of $134.53, while the stock recently traded at $96.01 and the company also raised its quarterly dividend to $0.195 per share.

North Dakota State Investment Board bought a new position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 23,251 shares of the asset manager's stock, valued at approximately $2,964,000.

Several other hedge funds and other institutional investors have also modified their holdings of KKR. Brighton Jones LLC boosted its holdings in shares of KKR & Co. Inc. by 109.6% during the 4th quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager's stock worth $689,000 after buying an additional 2,437 shares during the period. Bison Wealth LLC bought a new stake in shares of KKR & Co. Inc. during the 4th quarter worth about $218,000. Sivia Capital Partners LLC boosted its holdings in shares of KKR & Co. Inc. by 13.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,050 shares of the asset manager's stock worth $273,000 after buying an additional 237 shares during the period. United Bank bought a new stake in shares of KKR & Co. Inc. during the 2nd quarter worth about $769,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of KKR & Co. Inc. during the 2nd quarter worth about $4,826,000. Institutional investors own 76.26% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on KKR. Royal Bank Of Canada reduced 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. Zacks Research cut shares of KKR & Co. Inc. from a "hold" rating to a "strong sell" rating in a research note on Monday, April 13th. The Goldman Sachs Group dropped their price objective on shares of KKR & Co. Inc. from $145.00 to $110.00 and set a "buy" rating for the company in a research note on Tuesday, April 7th. Barclays dropped their price objective on shares of KKR & Co. Inc. from $127.00 to $122.00 and set an "overweight" rating for the company in a research note on Wednesday, May 6th. Finally, Piper Sandler dropped their price objective on shares of KKR & Co. Inc. from $135.00 to $117.00 and set an "overweight" rating for the company in a research note on Tuesday, April 7th. One 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 company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $134.53.

KKR & Co. Inc. Price Performance

Shares of KKR & Co. Inc. stock opened at $96.01 on Tuesday. KKR & Co. Inc. has a twelve month low of $82.67 and a twelve month high of $153.87. 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 simple moving average of $95.36 and a two-hundred day simple moving average of $110.60. The stock has a market capitalization of $86.20 billion, a price-to-earnings ratio of 32.66, a price-to-earnings-growth ratio of 0.86 and a beta of 1.85.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last issued its quarterly earnings data on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. The business had revenue of $5.74 billion during the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. Analysts forecast that KKR & Co. Inc. will post 5.46 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be given a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, May 15th. This is a boost from KKR & Co. Inc.'s previous quarterly dividend of $0.19. KKR & Co. Inc.'s dividend payout ratio is presently 26.53%.

KKR & Co. Inc. declared that its Board of Directors has approved a stock repurchase plan on Tuesday, May 5th that permits the company to repurchase $500.00 million in 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 often a sign that the company's management believes its shares are undervalued.

Insider Activity at KKR & Co. Inc.

In other news, Director Timothy R. Barakett bought 50,000 shares of the company's stock in a transaction dated Wednesday, March 4th. The stock was bought at an average cost of $94.47 per share, for a total transaction of $4,723,500.00. Following the transaction, the director owned 285,000 shares of the company's stock, valued at $26,923,950. This represents a 21.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 23.20% of the company's stock.

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.

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