Concurrent Investment Advisors LLC Acquires 52,170 Shares of KKR & Co. Inc. $KKR

Key Points

• Concurrent Investment Advisors increased its KKR stake by 138.8% in the second quarter, purchasing 52,170 additional shares and bringing its holdings to 89,759 shares worth approximately $8.24 million.
• KKR reported quarterly EPS of $1.63, exceeding analyst expectations of $1.43, while revenue reached $5.73 billion versus the $2.55 billion consensus estimate.
• Analyst sentiment remains favorable, with a “Moderate Buy” consensus and an average price target of $130; KKR also pays a quarterly dividend of $0.195 per share, yielding about 0.7%.

Concurrent Investment Advisors LLC grew its holdings in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 138.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 89,759 shares of the asset manager's stock after purchasing an additional 52,170 shares during the period. Concurrent Investment Advisors LLC's holdings in KKR & Co. Inc. were worth $8,238,000 at the end of the most recent quarter.

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

KKR & Co. Inc. Stock Performance

Shares of KKR stock opened at $107.81 on Friday. The stock has a market capitalization of $96.77 billion, a PE ratio of 34.33, a PEG ratio of 1.01 and a beta of 1.79. The business's 50 day simple moving average is $102.68 and its 200 day simple moving average is $97.87. 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. has a one year low of $82.67 and a one year high of $152.10.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The asset manager reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.20. The firm had revenue of $5.73 billion during the quarter, compared to analyst estimates of $2.55 billion. KKR & Co. Inc. had a net margin of 14.41% and a return on equity of 5.88%. During the same quarter last year, the business earned $1.18 EPS. As a group, research analysts forecast that KKR & Co. Inc. will post 5.66 earnings per share for the current year.

KKR & Co. Inc. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Monday, August 10th were paid a dividend of $0.195 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.78 annualized dividend and a yield of 0.7%. KKR & Co. Inc.'s dividend payout ratio (DPR) is currently 24.84%.

Analyst Ratings Changes

A number of research analysts have issued reports on KKR shares. Barclays boosted their target price on KKR & Co. Inc. from $124.00 to $135.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. HSBC upped their price objective on shares of KKR & Co. Inc. from $118.00 to $121.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. Keefe, Bruyette & Woods raised KKR & Co. Inc. to a "moderate buy" rating in a report on Monday, July 20th. Argus boosted their price objective on KKR & Co. Inc. from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, August 4th. Finally, BMO Capital Markets increased their target price on KKR & Co. Inc. from $112.00 to $118.00 and gave the company an "outperform" rating in a research report on Monday, August 3rd. Twelve 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 company currently has a consensus rating of "Moderate Buy" and an average price target of $130.00.

Insiders Place Their Bets

In other KKR & Co. Inc. news, insider Dane E. Holmes sold 10,000 shares of KKR & Co. Inc. stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $108.58, for a total value of $1,085,800.00. Following the completion of the sale, the insider directly owned 8,513 shares in the company, valued at approximately $924,341.54. The trade was a 54.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 23.20% of the company's stock.

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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