Border to Coast Pensions Partnership Ltd Buys 55,000 Shares of KKR & Co. Inc. $KKR

Key Points

• Border to Coast Pensions Partnership Ltd increased its KKR stake by 14.5% in the first quarter, buying 55,000 additional shares and bringing its total holdings to 435,000 shares valued at about $40.36 million.
• Several other major institutional investors also held large positions in KKR, and institutions overall own 76.26% of the company’s stock.
• KKR shares were down 2.6% to $90.20, while the company recently boosted its quarterly dividend to $0.195 per share and authorized a $500 million share buyback.

Border to Coast Pensions Partnership Ltd grew its stake in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 14.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 435,000 shares of the asset manager's stock after buying an additional 55,000 shares during the period. Border to Coast Pensions Partnership Ltd's holdings in KKR & Co. Inc. were worth $40,361,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its stake in 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 valued at $7,657,034,000 after acquiring an additional 821,739 shares during the period. Geode Capital Management LLC raised 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 acquiring an additional 146,285 shares in the last quarter. Norges Bank bought a new stake in shares of KKR & Co. Inc. in the 4th quarter worth approximately $1,715,929,000. First Manhattan CO. LLC. lifted its position in shares of KKR & Co. Inc. by 0.8% in 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 acquiring an additional 67,441 shares during the period. Finally, Capital Research Global Investors grew its holdings in shares of KKR & Co. Inc. by 0.4% during the 4th quarter. Capital Research Global Investors now owns 5,602,262 shares of the asset manager's stock worth $714,195,000 after purchasing an additional 23,483 shares in the last quarter. Institutional investors own 76.26% of the company's stock.

KKR & Co. Inc. Stock Down 2.6%

NYSE KKR opened at $90.20 on Friday. KKR & Co. Inc. has a 1-year low of $82.67 and a 1-year high of $153.87. The company has a market capitalization of $80.99 billion, a price-to-earnings ratio of 30.68, a PEG ratio of 0.78 and a beta of 1.79. The stock's 50 day moving average is $97.42 and its two-hundred day moving average is $105.50. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.70.

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 (EPS) for the quarter. The business had revenue of $5.74 billion during the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%. Equities analysts forecast that KKR & Co. Inc. will post 5.53 earnings per share for the current fiscal year.

KKR & Co. Inc. announced that its Board of Directors has authorized a stock buyback program on Tuesday, May 5th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the asset manager to purchase up to 0.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

KKR & Co. Inc. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a dividend of $0.195 per share. The ex-dividend date of this dividend was Friday, May 15th. This is a boost from KKR & Co. Inc.'s previous quarterly dividend of $0.18. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.9%. KKR & Co. Inc.'s dividend payout ratio (DPR) is 26.53%.

Analyst Upgrades and Downgrades

KKR has been the topic of a number of research reports. Oppenheimer lowered their price objective on KKR & Co. Inc. from $187.00 to $140.00 and set an "outperform" rating on the stock in a research report on Monday, April 13th. Royal Bank Of Canada reduced their target price on KKR & Co. Inc. from $132.00 to $128.00 and set an "outperform" rating for the company in a research report on Wednesday, May 6th. Piper Sandler decreased their price target on shares of KKR & Co. Inc. from $135.00 to $117.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 7th. Weiss Ratings raised shares of KKR & Co. Inc. from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, June 16th. Finally, BMO Capital Markets lowered their price target on shares of KKR & Co. Inc. from $125.00 to $106.00 and set an "outperform" rating on the stock in a report on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, KKR & Co. Inc. presently has a consensus rating of "Moderate Buy" and a consensus target price of $134.53.

KKR & Co. Inc. 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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