Banco Santander S.A. Purchases 40,024 Shares of KKR & Co. Inc. $KKR

Key Points

• Banco Santander S.A. boosted its stake in KKR & Co. Inc. by 27.6% in the fourth quarter, buying an additional 40,024 shares and bringing its total holding to 184,994 shares valued at about $23.6 million.
• KKR reported quarterly earnings of $1.24 per share on revenue of $5.74 billion, while analysts currently expect the company to earn $5.51 per share for the full year.
• The company raised its quarterly dividend to $0.195 per share and authorized a $500 million share repurchase plan, even as several analysts trimmed price targets; the stock has a consensus rating of Moderate Buy.

Banco Santander S.A. increased its position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 27.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 184,994 shares of the asset manager's stock after purchasing an additional 40,024 shares during the period. Banco Santander S.A.'s holdings in KKR & Co. Inc. were worth $23,583,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Asset Dedication LLC bought a new stake in KKR & Co. Inc. during the third quarter worth approximately $26,000. GGM Financials LLC bought a new position in KKR & Co. Inc. during the 3rd quarter valued at about $27,000. Washington Trust Advisors Inc. bought a new position in KKR & Co. Inc. during the 4th quarter valued at about $27,000. Elyxium Wealth LLC bought a new position in KKR & Co. Inc. during the 4th quarter valued at about $27,000. Finally, SouthState Bank Corp grew its holdings in KKR & Co. Inc. by 185.0% during the 4th quarter. SouthState Bank Corp now owns 228 shares of the asset manager's stock valued at $29,000 after purchasing an additional 148 shares during the last quarter. 76.26% of the stock is currently owned by institutional investors.

KKR & Co. Inc. Stock Up 1.1%

KKR & Co. Inc. stock opened at $96.37 on Friday. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $153.87. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.08 and a current ratio of 0.08. The firm has a 50 day moving average price of $97.27 and a 200 day moving average price of $107.45. The company has a market capitalization of $86.52 billion, a PE ratio of 32.78, a price-to-earnings-growth ratio of 0.82 and a beta of 1.79.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last posted its earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. The firm had revenue of $5.74 billion during the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. Research analysts expect that KKR & Co. Inc. will post 5.51 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

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

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

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Oppenheimer cut their price target on shares of KKR & Co. Inc. from $187.00 to $140.00 and set an "outperform" rating on the stock in a report on Monday, April 13th. Morgan Stanley cut their price target on shares of KKR & Co. Inc. from $177.00 to $153.00 and set an "overweight" rating on the stock in a report on Tuesday, April 21st. Barclays cut their price target on shares of KKR & Co. Inc. from $127.00 to $122.00 and set an "overweight" rating on the stock in a report on Wednesday, May 6th. Royal Bank Of Canada cut their price target on shares of KKR & Co. Inc. from $132.00 to $128.00 and set an "outperform" rating on the stock in a report on Wednesday, May 6th. Finally, TD Cowen cut their price target on shares of KKR & Co. Inc. from $106.00 to $104.00 and set a "hold" rating on the stock in a report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $134.53.

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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