Capital Group Investment Management PTE. LTD. Purchases 15,927 Shares of KKR & Co. Inc. $KKR

Key Points

• Capital Group Investment Management PTE. LTD. increased its KKR stake by 729.9% in the fourth quarter, adding 15,927 shares to bring its total holdings to 18,109 shares valued at about $2.31 million.
• KKR stock was down 2.0%, opening at $93.51, well below its 200-day moving average of $108.17 and its 52-week high of $153.87.
• The company recently raised its quarterly dividend to $0.195 per share and approved a $500 million share buyback, while analysts currently rate the stock a consensus Moderate Buy with an average target price of $134.53.

Capital Group Investment Management PTE. LTD. grew its position in KKR & Co. Inc. (NYSE:KKR - Free Report) by 729.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,109 shares of the asset manager's stock after acquiring an additional 15,927 shares during the quarter. Capital Group Investment Management PTE. LTD.'s holdings in KKR & Co. Inc. were worth $2,309,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. SteelPeak Wealth LLC raised its holdings in shares of KKR & Co. Inc. by 3.2% in the 4th quarter. SteelPeak Wealth LLC now owns 2,549 shares of the asset manager's stock worth $325,000 after buying an additional 80 shares in the last quarter. Diversified Trust Co. raised its holdings in shares of KKR & Co. Inc. by 1.5% in the 4th quarter. Diversified Trust Co. now owns 5,562 shares of the asset manager's stock worth $709,000 after buying an additional 82 shares in the last quarter. Modera Wealth Management LLC raised its holdings in shares of KKR & Co. Inc. by 4.9% in the 4th quarter. Modera Wealth Management LLC now owns 1,789 shares of the asset manager's stock worth $228,000 after buying an additional 84 shares in the last quarter. Sound Income Strategies LLC raised its holdings in shares of KKR & Co. Inc. by 9.1% in the 4th quarter. Sound Income Strategies LLC now owns 1,084 shares of the asset manager's stock worth $143,000 after buying an additional 90 shares in the last quarter. Finally, Cornerstone Advisory LLC raised its holdings in shares of KKR & Co. Inc. by 3.0% in the 3rd quarter. Cornerstone Advisory LLC now owns 3,189 shares of the asset manager's stock worth $414,000 after buying an additional 92 shares in the last quarter. Institutional investors own 76.26% of the company's stock.

Analyst Ratings Changes

KKR has been the subject of a number of recent research reports. BMO Capital Markets dropped their target price on KKR & Co. Inc. from $125.00 to $106.00 and set an "outperform" rating for the company in a report on Tuesday, March 24th. UBS Group increased their target price on KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. The Goldman Sachs Group dropped their target price on KKR & Co. Inc. from $145.00 to $110.00 and set a "buy" rating for the company in a report on Tuesday, April 7th. Zacks Research raised KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a report on Thursday, May 28th. Finally, Oppenheimer dropped their target price on KKR & Co. Inc. from $187.00 to $140.00 and set an "outperform" rating for the company in a report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $134.53.

KKR & Co. Inc. Trading Down 2.0%

KKR stock opened at $93.51 on Friday. The business has a fifty day moving average price of $96.81 and a 200 day moving average price of $108.17. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $153.87. The stock has a market capitalization of $83.96 billion, a price-to-earnings ratio of 31.81, a P/E/G ratio of 0.81 and a beta of 1.79. 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. (NYSE:KKR - Get Free Report) last released its quarterly earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. The firm 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%. Analysts expect that KKR & Co. Inc. will post 5.51 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

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

KKR & Co. Inc. announced that its board has approved a stock buyback plan 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 plans are often a sign that the company's board believes its shares are 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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