BI Asset Management Fondsmaeglerselskab A S Has $2.80 Million Holdings in KKR & Co. Inc. $KKR

Key Points

• BI Asset Management Fondsmaeglerselskab A S cut its KKR stake sharply in the first quarter, selling 268,410 shares and reducing its holdings by 89.9% to 30,254 shares worth about $2.8 million.
• Analysts remain broadly positive on KKR despite recent target-price cuts, with a consensus rating of “Moderate Buy” and an average price target of $134.53.
• KKR recently raised its quarterly dividend to $0.195 per share and approved a $500 million share buyback program, signaling continued capital returns to shareholders.

BI Asset Management Fondsmaeglerselskab A S decreased its holdings in KKR & Co. Inc. (NYSE:KKR - Free Report) by 89.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 30,254 shares of the asset manager's stock after selling 268,410 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in KKR & Co. Inc. were worth $2,798,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of KKR & Co. Inc. by 109.6% in the fourth quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager's stock valued at $689,000 after purchasing an additional 2,437 shares in the last quarter. Bison Wealth LLC bought a new stake in KKR & Co. Inc. during the fourth quarter worth $218,000. Sivia Capital Partners LLC grew its holdings in KKR & Co. Inc. by 13.1% during the second quarter. Sivia Capital Partners LLC now owns 2,050 shares of the asset manager's stock worth $273,000 after buying an additional 237 shares in the last quarter. United Bank purchased a new stake in KKR & Co. Inc. in the 2nd quarter valued at $769,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in KKR & Co. Inc. in the 2nd quarter valued at $4,826,000. Institutional investors and hedge funds own 76.26% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on KKR shares. Piper Sandler cut their price objective on shares of KKR & Co. Inc. from $135.00 to $117.00 and set an "overweight" rating on the stock in a report on Tuesday, April 7th. BMO Capital Markets lowered their target price on shares of KKR & Co. Inc. from $125.00 to $106.00 and set an "outperform" rating for the company in a report on Tuesday, March 24th. Zacks Research raised shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 28th. Morgan Stanley dropped 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 research report on Tuesday, April 21st. Finally, The Goldman Sachs Group reduced their price objective on shares of KKR & Co. Inc. from $145.00 to $110.00 and set a "buy" rating for the company in a research report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $134.53.

KKR & Co. Inc. Price Performance

KKR opened at $93.66 on Wednesday. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $153.87. The firm has a 50-day moving average of $97.99 and a 200 day moving average of $106.13. 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 market cap of $84.09 billion, a P/E ratio of 31.86, a PEG ratio of 0.84 and a beta of 1.79.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its quarterly earnings data on Friday, February 27th. The asset manager reported $1.24 EPS for the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. The business had revenue of $5.74 billion for the quarter. On average, research analysts expect that KKR & Co. Inc. will post 5.53 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a $0.195 dividend. The ex-dividend date was Friday, May 15th. This is a positive change from KKR & Co. Inc.'s previous quarterly dividend of $0.18. This represents a $0.78 annualized dividend and a yield of 0.8%. KKR & Co. Inc.'s dividend payout ratio (DPR) is currently 26.53%.

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

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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