Corient Private Wealth LP Makes New $31.42 Million Investment in KKR & Co. Inc. $KKR

Key Points

• Corient Private Wealth LP initiated a $31.42 million position in KKR during the second quarter by purchasing 342,300 shares. Institutional investors collectively own 76.26% of the company.
• KKR exceeded quarterly expectations, reporting $1.63 in EPS versus the $1.43 consensus estimate and $5.73 billion in revenue versus $2.55 billion expected.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $130, while KKR pays a $0.195 quarterly dividend and has authorized a $500 million share-buyback program.

Corient Private Wealth LP purchased a new position in KKR & Co. Inc. (NYSE:KKR - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 342,300 shares of the asset manager's stock, valued at approximately $31,416,000.

Other large investors also recently made changes to their positions in the company. Brighton Jones LLC boosted its position in KKR & Co. Inc. by 109.6% during the fourth quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager's stock worth $689,000 after purchasing an additional 2,437 shares during the period. Bison Wealth LLC bought a new position in shares of KKR & Co. Inc. in the fourth quarter valued at approximately $218,000. Sivia Capital Partners LLC lifted its stake in shares of KKR & Co. Inc. by 13.1% in the second quarter. Sivia Capital Partners LLC now owns 2,050 shares of the asset manager's stock worth $273,000 after buying an additional 237 shares during the last quarter. United Bank acquired a new stake in shares of KKR & Co. Inc. in the second quarter worth $769,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of KKR & Co. Inc. during the 2nd quarter worth $4,826,000. Institutional investors own 76.26% of the company's stock.

KKR & Co. Inc. Price Performance

Shares of NYSE:KKR opened at $109.33 on Friday. KKR & Co. Inc. has a 1-year low of $82.67 and a 1-year high of $152.10. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.71. The business's 50 day moving average is $100.93 and its 200-day moving average is $97.67. The firm has a market capitalization of $98.14 billion, a PE ratio of 34.82, a PEG ratio of 0.92 and a beta of 1.78.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last issued its earnings results on Thursday, July 30th. The asset manager reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.20. The business had revenue of $5.73 billion for 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 period in the previous year, the business earned $1.18 EPS. Sell-side analysts predict that KKR & Co. Inc. will post 5.68 earnings per share for the current year.

KKR & Co. Inc. Dividend Announcement

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

KKR & Co. Inc. declared that its board has approved 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 reacquire up to 0.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on KKR. Weiss Ratings upgraded shares of KKR & Co. Inc. from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, June 16th. Argus upped their price target on shares of KKR & Co. Inc. from $115.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, August 4th. Morgan Stanley decreased their price target on shares of KKR & Co. Inc. from $153.00 to $147.00 and set an "overweight" rating for the company in a report on Tuesday, July 21st. TD Cowen raised their price target on KKR & Co. Inc. from $108.00 to $111.00 and gave the company a "hold" rating in a research report on Monday, August 3rd. Finally, HSBC raised their target price on KKR & Co. Inc. from $118.00 to $121.00 and gave the company a "buy" rating in a report on Monday, July 20th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $130.00.

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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