Bank of Nova Scotia Takes $11.92 Million Position in KKR & Co. Inc. $KKR

Bank of Nova Scotia purchased a new position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 129,792 shares of the asset manager's stock, valued at approximately $11,917,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KKR. Praxis Investment Management Inc. grew its holdings in KKR & Co. Inc. by 0.9% during the fourth quarter. Praxis Investment Management Inc. now owns 10,006 shares of the asset manager's stock worth $1,276,000 after acquiring an additional 94 shares during the period. Horizon Bancorp Inc. IN lifted its position in shares of KKR & Co. Inc. by 3.8% in the 1st quarter. Horizon Bancorp Inc. IN now owns 2,622 shares of the asset manager's stock valued at $243,000 after acquiring an additional 95 shares in the last quarter. Western Pacific Wealth Management LP lifted its holdings in shares of KKR & Co. Inc. by 34.8% in the first quarter. Western Pacific Wealth Management LP now owns 387 shares of the asset manager's stock valued at $36,000 after purchasing an additional 100 shares in the last quarter. Wernau Asset Management Inc. boosted its position in KKR & Co. Inc. by 1.0% during the 1st quarter. Wernau Asset Management Inc. now owns 10,877 shares of the asset manager's stock worth $1,006,000 after acquiring an additional 104 shares during the period. Finally, Mission Wealth Management LP boosted its holdings in shares of KKR & Co. Inc. by 0.5% during the fourth quarter. Mission Wealth Management LP now owns 20,567 shares of the asset manager's stock worth $2,622,000 after purchasing an additional 110 shares during the period. Institutional investors own 76.26% of the company's stock.

KKR & Co. Inc. Stock Down 1.1%

KKR opened at $107.29 on Tuesday. The firm has a market cap of $96.31 billion, a P/E ratio of 34.17, a price-to-earnings-growth ratio of 0.92 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 business has a 50 day moving average price of $100.27 and a 200 day moving average price of $97.53. KKR & Co. Inc. has a twelve month low of $82.67 and a twelve month high of $152.10.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The asset manager reported $1.63 EPS 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 company had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter last year, the company posted $1.18 earnings per share. Research analysts forecast that KKR & Co. Inc. will post 5.68 EPS for the current year.

KKR & Co. Inc. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Monday, August 10th will be given a dividend of $0.195 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.78 dividend on an annualized basis and a yield of 0.7%. KKR & Co. Inc.'s payout ratio is currently 24.84%.

KKR & Co. Inc. announced that its Board of Directors has initiated a stock buyback plan on Tuesday, May 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the asset manager to purchase up to 0.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on KKR. Oppenheimer lowered their target price on KKR & Co. Inc. from $143.00 to $139.00 and set an "outperform" rating on the stock in a research note on Friday, July 17th. BMO Capital Markets increased their price objective on KKR & Co. Inc. from $112.00 to $118.00 and gave the stock an "outperform" rating in a report on Monday, August 3rd. Argus increased their price objective on KKR & Co. Inc. from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, August 4th. UBS Group raised their price objective on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Finally, Barclays lifted their target price on shares of KKR & Co. Inc. from $124.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, KKR & Co. Inc. currently has a consensus rating of "Moderate Buy" and a consensus price target of $127.75.

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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