Clear Harbor Asset Management LLC Invests $1.03 Million in KKR & Co. Inc. $KKR

Key Points

• Clear Harbor Asset Management purchased 11,229 KKR shares in the second quarter, valued at approximately $1.03 million. Institutional investors collectively own 76.26% of the company.
• Analysts maintain a favorable outlook, with 12 Buy ratings and three Holds, resulting in a consensus “Moderate Buy” rating and an average price target of $127.75.
• KKR exceeded quarterly earnings expectations, reporting $1.63 in EPS versus $1.43 forecast, while declaring a $0.195 quarterly dividend and authorizing a $500 million share-repurchase program.

Clear Harbor Asset Management LLC bought a new position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 11,229 shares of the asset manager's stock, valued at approximately $1,031,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Washington Trust Advisors Inc. bought a new stake in KKR & Co. Inc. during the fourth quarter worth about $27,000. Elyxium Wealth LLC bought a new position in shares of KKR & Co. Inc. in the fourth quarter valued at approximately $27,000. SouthState Bank Corp raised its stake in shares of KKR & Co. Inc. by 185.0% in the fourth quarter. SouthState Bank Corp now owns 228 shares of the asset manager's stock valued at $29,000 after acquiring an additional 148 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in shares of KKR & Co. Inc. in the 4th quarter worth approximately $29,000. Finally, MV Capital Management Inc. acquired a new position in shares of KKR & Co. Inc. in the 4th quarter worth approximately $31,000. 76.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on KKR. Morgan Stanley dropped 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 objective on KKR & Co. Inc. from $118.00 to $121.00 and gave the stock a "buy" rating in a research note on Monday, July 20th. Barclays raised their target price on KKR & Co. Inc. from $124.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. BMO Capital Markets lifted their price target on KKR & Co. Inc. from $112.00 to $118.00 and gave the company an "outperform" rating in a report on Monday, August 3rd. Finally, TD Cowen upped their price target on shares of KKR & Co. Inc. from $108.00 to $111.00 and gave the stock a "hold" rating in a research report on Monday, August 3rd. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, KKR & Co. Inc. presently has a consensus rating of "Moderate Buy" and a consensus price target of $127.75.

KKR & Co. Inc. Trading Up 1.5%

KKR opened at $108.59 on Friday. The firm has a 50 day simple moving average of $100.09 and a 200 day simple moving average of $97.62. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $152.10. The company has a market cap of $97.47 billion, a price-to-earnings ratio of 34.58, a price-to-earnings-growth ratio of 0.93 and a beta of 1.78. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.09 and a quick ratio of 0.09.

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

KKR & Co. Inc. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Monday, August 10th will be given a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, August 10th. KKR & Co. Inc.'s dividend payout ratio (DPR) is currently 24.84%.

KKR & Co. Inc. announced that its board has approved a share repurchase plan on Tuesday, May 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the asset manager to buy up to 0.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its stock is undervalued.

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.

Want to see what other hedge funds are holding KKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KKR & Co. Inc. (NYSE:KKR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source