Assenagon Asset Management S.A. Purchases 1,090,403 Shares of KKR & Co. Inc. $KKR

Key Points

• Assenagon Asset Management nearly doubled its KKR stake in the second quarter, purchasing 1,090,403 additional shares to hold 2.21 million shares valued at approximately $202.5 million.
• KKR reported quarterly EPS of $1.63, beating estimates of $1.43, while revenue reached $5.73 billion versus the $2.55 billion consensus estimate.
• Investor sentiment remains broadly positive: analysts have a “Moderate Buy” consensus and an average price target of $127.75, while KKR is expanding through acquisitions and recently secured a $19.2 billion infrastructure fund.

Assenagon Asset Management S.A. raised its position in KKR & Co. Inc. (NYSE:KKR - Free Report) by 97.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,206,445 shares of the asset manager's stock after buying an additional 1,090,403 shares during the quarter. Assenagon Asset Management S.A. owned 0.25% of KKR & Co. Inc. worth $202,508,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Balefire LLC boosted its position in shares of KKR & Co. Inc. by 25.9% in the second quarter. Balefire LLC now owns 10,334 shares of the asset manager's stock valued at $948,000 after acquiring an additional 2,128 shares during the period. GAMMA Investing LLC increased its position in KKR & Co. Inc. by 21.7% during the second quarter. GAMMA Investing LLC now owns 13,772 shares of the asset manager's stock worth $1,264,000 after acquiring an additional 2,454 shares during the period. Avior Wealth Management LLC increased its position in KKR & Co. Inc. by 4.0% during the second quarter. Avior Wealth Management LLC now owns 14,936 shares of the asset manager's stock worth $1,371,000 after acquiring an additional 578 shares during the period. Canandaigua National Bank & Trust Co. bought a new position in KKR & Co. Inc. during the second quarter worth about $920,000. Finally, Boltwood Capital Management raised its stake in KKR & Co. Inc. by 4.5% in the 2nd quarter. Boltwood Capital Management now owns 3,469 shares of the asset manager's stock worth $318,000 after purchasing an additional 150 shares in the last quarter. Institutional investors own 76.26% of the company's stock.

More KKR & Co. Inc. News

Here are the key news stories impacting KKR & Co. Inc. this week:

• Positive Sentiment: KKR agreed to acquire Medicover’s India hospital business for approximately €1.2 billion. The transaction expands KKR’s healthcare portfolio in India and could provide exposure to a growing medical-services market. Medicover to sell India hospital business to KKR for €1.2 billion
• Positive Sentiment: KKR closed its Global Infrastructure Investors V fund with $19.2 billion available for investment. The fundraising reinforces the firm’s ability to attract institutional capital and supports future fee-generating asset growth. KKR closes Global Infrastructure Investors V fund
• Positive Sentiment: KKR is reportedly taking medical-equipment maker Integer Holdings private in a roughly $5.7 billion transaction and is arranging about $2 billion of debt financing. The deal could increase KKR’s assets under management and future management-fee potential. KKR to take Integer Holdings private
• Positive Sentiment: Analysts raised their KKR price targets to $118 at BMO Capital Markets and $111 at TD Cowen, while Argus forecast strong appreciation. These revisions suggest improving analyst confidence in KKR’s earnings and growth outlook. BMO raises KKR price target
• Neutral Sentiment: A separate company, FS KKR Capital Corp. NYSE: FSK, reported quarterly results and declared a $0.44 distribution. This is not an operating update for KKR & Co. Inc. and should have limited direct effect on KKR stock. FS KKR Capital quarterly results
• Negative Sentiment: Investors purchased a large volume of KKR put options, signaling increased demand for downside protection or bearish positioning. This may contribute to short-term pressure, although options activity is not a fundamental indicator. KKR put-option activity

KKR & Co. Inc. Stock Down 2.1%

KKR stock opened at $103.41 on Friday. KKR & Co. Inc. has a 52 week low of $82.67 and a 52 week high of $152.10. The business has a 50-day simple moving average of $96.90 and a 200 day simple moving average of $98.34. 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 market cap of $92.85 billion, a PE ratio of 32.93, a price-to-earnings-growth ratio of 0.91 and a beta of 1.78.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its quarterly earnings data 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. KKR & Co. Inc. had a net margin of 14.41% and a return on equity of 5.89%. The firm had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the prior year, the company posted $1.18 earnings per share. Sell-side analysts anticipate that KKR & Co. Inc. will post 5.66 EPS for the current fiscal year.

KKR & Co. Inc. announced that its board has authorized a stock repurchase program 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 programs are typically a sign that the company's board of directors believes its shares are undervalued.

KKR & Co. Inc. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Monday, August 10th will be issued a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, August 10th. KKR & Co. Inc.'s dividend payout ratio is 24.84%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on KKR shares. BMO Capital Markets increased their target price on shares of KKR & Co. Inc. from $112.00 to $118.00 and gave the stock an "outperform" rating in a research report on Monday. TD Cowen raised their target price on shares of KKR & Co. Inc. from $108.00 to $111.00 and gave the stock a "hold" rating in a report on Monday. Royal Bank Of Canada lifted their price target on shares of KKR & Co. Inc. from $125.00 to $134.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. UBS Group increased their price target on KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Finally, Argus raised their price objective on KKR & Co. Inc. from $115.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $127.75.

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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