Avalon Trust Co Invests $991,000 in KKR & Co. Inc. $KKR

Avalon Trust Co bought a new position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,801 shares of the asset manager's stock, valued at approximately $991,000.

Several other hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new stake in KKR & Co. Inc. in the 4th quarter valued at $1,715,929,000. Viking Global Investors LP acquired a new position in shares of KKR & Co. Inc. during the third quarter worth about $352,038,000. Temasek Holdings Private Ltd lifted its stake in shares of KKR & Co. Inc. by 164.4% during the first quarter. Temasek Holdings Private Ltd now owns 3,522,797 shares of the asset manager's stock worth $325,859,000 after purchasing an additional 2,190,248 shares in the last quarter. Farallon Capital Management LLC purchased a new stake in shares of KKR & Co. Inc. in the fourth quarter worth about $257,216,000. Finally, Amundi boosted its position in shares of KKR & Co. Inc. by 65.3% in the first quarter. Amundi now owns 3,726,040 shares of the asset manager's stock worth $344,659,000 after buying an additional 1,472,265 shares during the period. Hedge funds and other institutional investors own 76.26% of the company's stock.

Analysts Set New Price Targets

KKR has been the topic of several analyst reports. Argus raised their target price on KKR & Co. Inc. from $115.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, August 4th. UBS Group upped their price target on KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Oppenheimer lowered their price objective on shares of 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. Weiss Ratings upgraded shares of KKR & Co. Inc. from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, June 16th. Finally, Royal Bank Of Canada lifted their price objective on shares of KKR & Co. Inc. from $125.00 to $134.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $127.75.

KKR & Co. Inc. Price Performance

Shares of NYSE KKR opened at $113.93 on Friday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.71. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $152.10. The business has a 50 day moving average price of $98.75 and a two-hundred day moving average price of $97.89. The firm has a market cap of $102.27 billion, a PE ratio of 36.28, a price-to-earnings-growth ratio of 0.97 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, beating analysts' consensus estimates of $1.43 by $0.20. The company had revenue of $5.73 billion for the quarter, compared to analyst estimates of $2.55 billion. KKR & Co. Inc. had a return on equity of 5.88% and a net margin of 14.41%.During the same period in the prior year, the company posted $1.18 EPS. Sell-side analysts expect that KKR & Co. Inc. will post 5.68 earnings per share for the current fiscal year.

KKR & Co. Inc. Dividend Announcement

The business 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 dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, August 10th. KKR & Co. Inc.'s dividend payout ratio is 24.84%.

KKR & Co. Inc. announced that its board has authorized a stock buyback program on Tuesday, May 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the asset manager to reacquire up to 0.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are 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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