Algebris UK Ltd. Purchases New Stake in KKR & Co. Inc. $KKR

Key Points

• Algebris UK Ltd. disclosed a new fourth-quarter stake in KKR & Co. Inc., buying 157,103 shares valued at about $20.0 million. The position makes up 1.0% of its portfolio.
• KKR continues to attract institutional interest, with firms like Vanguard, Legal & General, Strive, and Viking also adding or building positions. Overall, 76.26% of KKR’s stock is held by institutional investors.
• The company recently announced a $500 million share buyback and raised its quarterly dividend to $0.195 per share. The stock also traded up 1.6% in the latest session, with analysts maintaining an average Moderate Buy rating and a consensus target of $134.53.

Algebris UK Ltd. acquired a new stake in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 157,103 shares of the asset manager's stock, valued at approximately $20,037,000. KKR & Co. Inc. makes up 1.0% of Algebris UK Ltd.'s portfolio, making the stock its 29th largest position.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in KKR & Co. Inc. by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 60,064,587 shares of the asset manager's stock valued at $7,657,034,000 after acquiring an additional 821,739 shares in the last quarter. Legal & General Group Plc lifted its stake in KKR & Co. Inc. by 1.4% during the 3rd quarter. Legal & General Group Plc now owns 4,642,005 shares of the asset manager's stock valued at $603,229,000 after acquiring an additional 65,695 shares in the last quarter. Strive Asset Management LLC bought a new position in KKR & Co. Inc. during the 3rd quarter valued at $535,907,000. Viking Global Investors LP bought a new position in KKR & Co. Inc. during the 3rd quarter valued at $352,038,000. Finally, CI Investments Inc. lifted its stake in KKR & Co. Inc. by 11.5% during the 3rd quarter. CI Investments Inc. now owns 1,745,345 shares of the asset manager's stock valued at $226,808,000 after acquiring an additional 179,793 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors.

Insider Transactions at KKR & Co. Inc.

In other news, Director Timothy R. Barakett acquired 50,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were acquired at an average cost of $94.47 per share, for a total transaction of $4,723,500.00. Following the purchase, the director owned 285,000 shares of the company's stock, valued at approximately $26,923,950. The trade was a 21.28% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 23.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on KKR shares. Royal Bank Of Canada dropped their price objective on KKR & Co. Inc. from $132.00 to $128.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 6th. TD Cowen dropped their price objective on KKR & Co. Inc. from $106.00 to $104.00 and set a "hold" rating on the stock in a research note on Monday. UBS Group raised their price objective on KKR & Co. Inc. from $113.00 to $126.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Weiss Ratings restated a "hold (c-)" rating on shares of KKR & Co. Inc. in a research note on Monday, May 4th. Finally, The Goldman Sachs Group dropped their price objective on KKR & Co. Inc. from $145.00 to $110.00 and set a "buy" rating on the stock in a research note on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $134.53.

KKR & Co. Inc. Trading Up 1.6%

NYSE KKR opened at $94.37 on Thursday. The stock has a market capitalization of $84.73 billion, a price-to-earnings ratio of 32.10, a PEG ratio of 0.82 and a beta of 1.85. KKR & Co. Inc. has a one year low of $82.67 and a one year high of $153.87. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.08 and a quick ratio of 0.08. The business's fifty day moving average is $95.46 and its 200-day moving average is $110.25.

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 company had revenue of $5.74 billion for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%. Equities research analysts predict that KKR & Co. Inc. will post 5.46 EPS for the current year.

KKR & Co. Inc. announced that its Board of Directors has initiated a share buyback 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 repurchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.

KKR & Co. Inc. Increases Dividend

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

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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