Bank of New York Mellon Corp Makes New Investment in KKR & Co. Inc. $KKR

Bank of New York Mellon Corp bought a new stake 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 (SEC). The institutional investor bought 3,250,288 shares of the asset manager's stock, valued at approximately $298,311,000. Bank of New York Mellon Corp owned about 0.36% of KKR & Co. Inc. at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of KKR & Co. Inc. by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 60,064,587 shares of the asset manager's stock worth $7,657,034,000 after purchasing an additional 821,739 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in KKR & Co. Inc. by 6.9% in the 1st quarter. Principal Financial Group Inc. now owns 19,507,741 shares of the asset manager's stock valued at $1,804,470,000 after purchasing an additional 1,261,314 shares in the last quarter. Geode Capital Management LLC lifted its holdings in KKR & Co. Inc. by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 14,995,742 shares of the asset manager's stock valued at $1,903,220,000 after purchasing an additional 146,285 shares in the last quarter. Norges Bank acquired a new stake in KKR & Co. Inc. during the 4th quarter worth $1,715,929,000. Finally, First Manhattan CO. LLC. boosted its stake in KKR & Co. Inc. by 0.8% during the 4th quarter. First Manhattan CO. LLC. now owns 8,597,044 shares of the asset manager's stock worth $1,095,951,000 after purchasing an additional 67,441 shares during the last quarter. Hedge funds and other institutional investors own 76.26% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented 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 company an "outperform" rating in a research report on Monday, August 3rd. TD Cowen increased their price objective on shares of KKR & Co. Inc. from $108.00 to $111.00 and gave the company a "hold" rating in a report on Monday, August 3rd. Zacks Research raised shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 28th. Oppenheimer cut 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. Finally, Argus lifted their price objective 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. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $127.75.

KKR & Co. Inc. Stock Up 1.5%

KKR stock opened at $108.59 on Friday. The firm has a market cap of $97.47 billion, a PE ratio of 34.58, a PEG ratio of 0.93 and a beta of 1.78. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.09 and a current ratio of 0.09. The firm's 50 day moving average price is $100.09 and its 200-day moving average price is $97.62. KKR & Co. Inc. has a one year low of $82.67 and a one year high of $152.10.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The asset manager reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.20. The company had revenue of $5.73 billion during 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 business posted $1.18 earnings per share. On average, equities research analysts anticipate that KKR & Co. Inc. will post 5.68 EPS for the current year.

KKR & Co. Inc. Dividend Announcement

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

KKR & Co. Inc. announced that its Board of Directors has initiated a stock repurchase 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 purchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

KKR & Co. Inc. Company 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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