BROOKFIELD Corp ON Acquires Shares of 282,000 KKR & Co. Inc. $KKR

Key Points

• Brookfield Corp. ON acquired 282,000 KKR shares during the first quarter, valued at approximately $26.1 million. Institutional investors collectively own 76.26% of KKR.
• KKR EVP Yael Cosset sold 30,000 shares for $1.764 million, reducing her direct position by 19%; company insiders own 23.20% of the stock.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $128.08, while KKR has authorized a $500 million share-repurchase program and raised its quarterly dividend to $0.195 per share.

BROOKFIELD Corp ON bought a new position in KKR & Co. Inc. (NYSE:KKR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 282,000 shares of the asset manager's stock, valued at approximately $26,085,000.

Several other institutional investors and hedge funds have also made changes to their positions in KKR. Washington Trust Advisors Inc. bought a new position in shares of KKR & Co. Inc. in the fourth quarter worth about $27,000. Elyxium Wealth LLC bought a new stake in KKR & Co. Inc. during the 4th quarter valued at about $27,000. SouthState Bank Corp lifted its holdings in KKR & Co. Inc. by 185.0% during the 4th quarter. SouthState Bank Corp now owns 228 shares of the asset manager's stock valued at $29,000 after buying an additional 148 shares in the last quarter. Garton & Associates Financial Advisors LLC purchased a new stake in KKR & Co. Inc. in the 4th quarter valued at about $29,000. Finally, MV Capital Management Inc. purchased a new stake in KKR & Co. Inc. in the 4th quarter valued at about $31,000. 76.26% of the stock is currently owned by institutional investors.

Insider Transactions at KKR & Co. Inc.

In other news, EVP Yael Cosset sold 30,000 shares of KKR & Co. Inc. stock in a transaction on Tuesday, July 14th. The stock was sold at an average price of $58.80, for a total value of $1,764,000.00. Following the transaction, the executive vice president directly owned 127,868 shares in the company, valued at approximately $7,518,638.40. This trade represents a 19.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 23.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on KKR. BMO Capital Markets dropped their target price on shares of KKR & Co. Inc. from $120.00 to $112.00 and set an "outperform" rating on the stock in a research note on Monday, July 13th. Morgan Stanley lowered their price target on KKR & Co. Inc. from $153.00 to $147.00 and set an "overweight" rating for the company in a report on Tuesday, July 21st. HSBC boosted their price target on KKR & Co. Inc. from $118.00 to $121.00 and gave the company a "buy" rating in a report on Monday, July 20th. Zacks Research upgraded KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a report on Thursday, May 28th. Finally, Weiss Ratings raised KKR & Co. Inc. from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, June 16th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $128.08.

KKR & Co. Inc. Trading Up 0.1%

NYSE:KKR opened at $99.48 on Monday. KKR & Co. Inc. has a one year low of $82.67 and a one year high of $153.87. 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 $89.32 billion, a P/E ratio of 33.84, a P/E/G ratio of 0.84 and a beta of 1.79. The firm has a 50-day simple moving average of $95.30 and a 200-day simple moving average of $100.20.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its quarterly earnings data on Friday, February 27th. The asset manager reported $1.24 earnings per share (EPS) for the quarter. The firm had revenue of $5.74 billion for the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. Equities analysts anticipate that KKR & Co. Inc. will post 5.54 EPS for the current fiscal year.

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

KKR & Co. Inc. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a dividend of $0.195 per share. This is a boost from KKR & Co. Inc.'s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.78 annualized dividend and a yield of 0.8%. KKR & Co. Inc.'s payout ratio is 26.53%.

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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