Ancora Advisors LLC Makes New Investment in KKR & Co. Inc. $KKR

Key Points

• Ancora Advisors purchased a new 42,298-share stake in KKR during the second quarter, valued at approximately $3.88 million. Institutional investors and hedge funds collectively own 76.26% of KKR’s outstanding stock.
• KKR reported quarterly earnings of $1.63 per share, beating analyst estimates of $1.43, while revenue reached $5.73 billion versus the $2.55 billion consensus estimate.
• Analysts maintain a generally positive view, with KKR carrying a “Moderate Buy” consensus rating and an average price target of $127.75. The company also authorized a $500 million share-repurchase program and pays a quarterly dividend of $0.195 per share.

Ancora Advisors LLC bought a new stake in KKR & Co. Inc. (NYSE:KKR - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 42,298 shares of the asset manager's stock, valued at approximately $3,882,000.

A number of other institutional investors have also modified their holdings of the stock. Brighton Jones LLC boosted its holdings in shares of KKR & Co. Inc. by 109.6% in the fourth quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager's stock valued at $689,000 after acquiring an additional 2,437 shares in the last quarter. Bison Wealth LLC purchased a new position in KKR & Co. Inc. during the fourth quarter worth about $218,000. Sivia Capital Partners LLC raised its holdings in KKR & Co. Inc. by 13.1% during the second quarter. Sivia Capital Partners LLC now owns 2,050 shares of the asset manager's stock worth $273,000 after purchasing an additional 237 shares in the last quarter. United Bank acquired a new stake in KKR & Co. Inc. in the second quarter valued at about $769,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in KKR & Co. Inc. in the second quarter valued at about $4,826,000. Institutional investors and hedge funds own 76.26% of the company's stock.

KKR & Co. Inc. Stock Performance

KKR opened at $108.60 on Thursday. The stock has a market cap of $97.48 billion, a P/E ratio of 34.59, a P/E/G ratio of 0.91 and a beta of 1.78. 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 stock's 50 day simple moving average is $100.68 and its 200 day simple moving average is $97.62. KKR & Co. Inc. has a 1-year low of $82.67 and a 1-year high of $152.10.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The asset manager reported $1.63 earnings per share 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 firm had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same period last year, the business posted $1.18 EPS. As a group, equities analysts anticipate that KKR & Co. Inc. will post 5.68 EPS for the current fiscal year.

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

KKR & Co. Inc. Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on KKR. Argus boosted their target price on KKR & Co. Inc. from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, August 4th. Oppenheimer reduced their price target on KKR & Co. Inc. from $143.00 to $139.00 and set an "outperform" rating for the company in a report on Friday, July 17th. TD Cowen lifted their price target on KKR & Co. Inc. from $108.00 to $111.00 and gave the company a "hold" rating in a research note on Monday, August 3rd. Barclays upped their price objective on KKR & Co. Inc. from $124.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. Finally, Keefe, Bruyette & Woods upgraded KKR & Co. Inc. to a "moderate buy" rating in a research report on Monday, July 20th. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $127.75.

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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