Cibc World Market Inc. Takes Position in KKR & Co. Inc. $KKR

Key Points

• Cibc World Market Inc. purchased 182,424 KKR shares in the second quarter, valued at approximately $16.7 million. Institutional investors collectively own 76.26% of KKR’s outstanding stock.
• KKR reported quarterly earnings of $1.63 per share, beating analysts’ $1.43 estimate, while revenue reached $5.73 billion versus the $2.55 billion consensus forecast.
• The company authorized a $500 million share buyback and declared a quarterly dividend of $0.195 per share. Analysts maintain a “Moderate Buy” consensus, with an average price target of $127.75 compared with the reported share price of $107.29.

Cibc World Market Inc. purchased a new position in KKR & Co. Inc. (NYSE:KKR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 182,424 shares of the asset manager's stock, valued at approximately $16,743,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in KKR. Brighton Jones LLC raised its holdings in shares of KKR & Co. Inc. by 109.6% in the 4th quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager's stock valued at $689,000 after acquiring an additional 2,437 shares in the last quarter. Bison Wealth LLC purchased a new position in shares of KKR & Co. Inc. during the fourth quarter worth about $218,000. Sivia Capital Partners LLC grew its holdings in shares of 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 purchasing an additional 237 shares in the last quarter. United Bank bought a new position in shares of KKR & Co. Inc. in the second quarter worth approximately $769,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of KKR & Co. Inc. in the second quarter worth approximately $4,826,000. Hedge funds and other institutional investors own 76.26% of the company's stock.

KKR & Co. Inc. Stock Performance

Shares of NYSE KKR opened at $107.29 on Tuesday. The stock has a market cap of $96.31 billion, a price-to-earnings ratio of 34.17, a P/E/G ratio of 0.92 and a beta of 1.78. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.71. KKR & Co. Inc. has a 1-year low of $82.67 and a 1-year high of $152.10. The stock's 50-day moving average is $100.27 and its 200 day moving average is $97.53.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its earnings results on Thursday, July 30th. The asset manager reported $1.63 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.20. KKR & Co. Inc. had a return on equity of 5.88% and a net margin of 14.41%.The company had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the previous year, the company posted $1.18 EPS. On average, sell-side analysts anticipate that KKR & Co. Inc. will post 5.68 EPS for the current fiscal year.

KKR & Co. Inc. declared that its board has approved a stock buyback plan on Tuesday, May 5th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the asset manager to reacquire up to 0.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its shares are undervalued.

KKR & Co. Inc. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Monday, August 10th will be issued a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, August 10th. KKR & Co. Inc.'s payout ratio is presently 24.84%.

Analyst Ratings Changes

A number of brokerages recently weighed in on KKR. Barclays raised their target price on shares of KKR & Co. Inc. from $124.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. Royal Bank Of Canada increased their price target on shares of KKR & Co. Inc. from $125.00 to $134.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Weiss Ratings upgraded shares of KKR & Co. Inc. from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, June 16th. HSBC lifted their price objective on shares of KKR & Co. Inc. from $118.00 to $121.00 and gave the stock a "buy" rating in a report on Monday, July 20th. Finally, UBS Group upped their target price on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $127.75.

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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