Ally Financial Inc. Takes Position in KKR & Co. Inc. $KKR

Ally Financial Inc. bought a new position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 50,000 shares of the asset manager's stock, valued at approximately $4,589,000.

A number of other hedge funds also recently added to or reduced their stakes in KKR. Norges Bank purchased a new stake in shares of KKR & Co. Inc. during the fourth quarter worth approximately $1,715,929,000. Bank of New York Mellon Corp purchased a new stake in shares of KKR & Co. Inc. in the 2nd quarter valued at approximately $298,311,000. Viking Global Investors LP acquired a new stake in shares of KKR & Co. Inc. in the 3rd quarter valued at $352,038,000. Temasek Holdings Private Ltd raised its holdings in shares of KKR & Co. Inc. by 164.4% in the 1st quarter. Temasek Holdings Private Ltd now owns 3,522,797 shares of the asset manager's stock valued at $325,859,000 after purchasing an additional 2,190,248 shares in the last quarter. Finally, Farallon Capital Management LLC acquired a new stake in shares of KKR & Co. Inc. in the 4th quarter valued at $257,216,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KKR has been the topic of several recent analyst reports. Weiss Ratings raised KKR & Co. Inc. from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, June 16th. Royal Bank Of Canada lifted their price target on KKR & Co. Inc. from $125.00 to $134.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Oppenheimer lowered their price objective on KKR & Co. Inc. from $143.00 to $139.00 and set an "outperform" rating for the company in a research report on Friday, July 17th. Keefe, Bruyette & Woods upgraded KKR & Co. Inc. to a "moderate buy" rating in a report on Monday, July 20th. Finally, TD Cowen raised their target price on KKR & Co. Inc. from $108.00 to $111.00 and gave the stock a "hold" rating in a research report on Monday, August 3rd. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, KKR & Co. Inc. presently has an average rating of "Moderate Buy" and an average price target of $127.75.

KKR & Co. Inc. Price Performance

Shares of NYSE KKR opened at $108.59 on Monday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.71. KKR & Co. Inc. has a twelve month low of $82.67 and a twelve month high of $152.10. The stock has a 50 day moving average of $100.09 and a two-hundred day moving average of $97.51. The stock has a market cap of $97.47 billion, a P/E ratio of 34.58, a P/E/G ratio of 0.92 and a beta of 1.78.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its earnings results on Thursday, July 30th. The asset manager reported $1.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.20. The business had revenue of $5.73 billion for the quarter, compared to analyst estimates of $2.55 billion. KKR & Co. Inc. had a net margin of 14.41% and a return on equity of 5.88%. During the same period last year, the firm posted $1.18 earnings per share. On average, research analysts forecast that KKR & Co. Inc. will post 5.68 earnings per share for the current year.

KKR & Co. Inc. Announces Dividend

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

KKR & Co. Inc. declared that its Board of Directors has initiated a stock buyback plan on Tuesday, May 5th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to buy up to 0.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

KKR & Co. Inc. 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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