Connor Clark & Lunn Investment Management Ltd. Makes New Investment in KKR & Co. Inc. $KKR

Key Points

• Connor Clark & Lunn Investment Management acquired 60,168 KKR shares worth approximately $5.5 million during the second quarter. Institutional investors collectively own 76.26% of KKR’s outstanding stock.
• Analysts remain broadly positive, with 12 Buy ratings and three Holds producing a consensus “Moderate Buy” rating and a $130 price target. Oppenheimer, Barclays, HSBC and BMO Capital Markets recently raised their targets.
• KKR beat quarterly earnings expectations, reporting $1.63 EPS versus the $1.43 consensus and $5.73 billion in revenue. The company also maintains a $500 million share-repurchase authorization and pays a quarterly dividend of $0.195 per share.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 60,168 shares of the asset manager's stock, valued at approximately $5,522,000.

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on KKR shares. Oppenheimer boosted their price objective on KKR & Co. Inc. from $139.00 to $166.00 and gave the company an "outperform" rating in a research note on Thursday. Keefe, Bruyette & Woods upgraded KKR & Co. Inc. to a "moderate buy" rating in a research report on Monday, July 20th. HSBC increased their price objective on shares of KKR & Co. Inc. from $118.00 to $121.00 and gave the company a "buy" rating in a research report on Monday, July 20th. Barclays boosted their target price on KKR & Co. Inc. from $124.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Finally, BMO Capital Markets increased their price objective on shares of KKR & Co. Inc. from $112.00 to $118.00 and gave the stock an "outperform" rating in a research report on Monday, August 3rd. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, KKR & Co. Inc. presently has an average rating of "Moderate Buy" and a consensus target price of $130.00.

KKR & Co. Inc. Trading Up 0.8%

Shares of KKR & Co. Inc. stock opened at $109.33 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.09 and a current ratio of 0.09. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $152.10. The firm has a 50-day simple moving average of $100.93 and a two-hundred day simple moving average of $97.67. The company has a market cap of $98.14 billion, a P/E ratio of 34.82, a price-to-earnings-growth ratio of 0.92 and a beta of 1.78.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last posted its quarterly earnings data 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. 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 for the quarter, compared to analysts' expectations of $2.55 billion. During the same period in the previous year, the firm posted $1.18 EPS. As a group, equities analysts predict that KKR & Co. Inc. will post 5.68 earnings per share for the current fiscal year.

KKR & Co. Inc. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Monday, August 10th were given a $0.195 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.78 dividend on an annualized basis and a yield of 0.7%. KKR & Co. Inc.'s payout ratio is 24.84%.

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

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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