BI Asset Management Fondsmaeglerselskab A S Grows Stock Position in KKR & Co. Inc. $KKR

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its KKR stake by 10.1% in the fourth quarter, ending with 298,664 shares valued at about $38.1 million.
• KKR reported strong recent financials, including quarterly EPS of $1.24 and revenue of $5.74 billion, while analysts expect $5.51 EPS for the full year.
• The company also raised its dividend to $0.195 per share quarterly and authorized a $500 million share buyback, signaling confidence in its stock.

BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 10.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 298,664 shares of the asset manager's stock after purchasing an additional 27,320 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in KKR & Co. Inc. were worth $38,074,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of KKR & Co. Inc. by 5.2% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,313,857 shares of the asset manager's stock valued at $170,736,000 after purchasing an additional 65,178 shares during the last quarter. Banco Santander S.A. lifted its holdings in shares of KKR & Co. Inc. by 5,405.9% during the third quarter. Banco Santander S.A. now owns 144,970 shares of the asset manager's stock valued at $18,839,000 after purchasing an additional 142,337 shares during the last quarter. Cumberland Partners Ltd lifted its holdings in shares of KKR & Co. Inc. by 816.2% during the third quarter. Cumberland Partners Ltd now owns 25,791 shares of the asset manager's stock valued at $3,352,000 after purchasing an additional 22,976 shares during the last quarter. B. Metzler seel. Sohn & Co. AG lifted its holdings in shares of KKR & Co. Inc. by 63.2% during the third quarter. B. Metzler seel. Sohn & Co. AG now owns 98,983 shares of the asset manager's stock valued at $12,862,000 after purchasing an additional 38,322 shares during the last quarter. Finally, Employees Retirement System of Texas raised its position in KKR & Co. Inc. by 54.9% during the third quarter. Employees Retirement System of Texas now owns 540,300 shares of the asset manager's stock valued at $70,212,000 after buying an additional 191,600 shares during the period. Hedge funds and other institutional investors own 76.26% of the company's stock.

KKR & Co. Inc. Stock Performance

Shares of KKR stock opened at $93.51 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.08 and a quick ratio of 0.08. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $153.87. The stock's 50-day moving average is $96.81 and its two-hundred day moving average is $108.17. The firm has a market cap of $83.96 billion, a P/E ratio of 31.81, a PEG ratio of 0.83 and a beta of 1.79.

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

KKR & Co. Inc. declared that its Board of Directors has authorized a stock repurchase program on Tuesday, May 5th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the asset manager to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.

KKR & Co. Inc. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a $0.195 dividend. This represents a $0.78 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Friday, May 15th. This is an increase from KKR & Co. Inc.'s previous quarterly dividend of $0.19. KKR & Co. Inc.'s payout ratio is currently 26.53%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Morgan Stanley dropped their price target on KKR & Co. Inc. from $177.00 to $153.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 21st. Barclays dropped their price target on KKR & Co. Inc. from $127.00 to $122.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 6th. BMO Capital Markets dropped their price target on KKR & Co. Inc. from $125.00 to $106.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 24th. UBS Group upped their price target on 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, Royal Bank Of Canada dropped their price target on KKR & Co. Inc. from $132.00 to $128.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has assigned a Sell 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 $134.53.

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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