Delta Global Management LP Has $13.53 Million Stock Position in KKR & Co. Inc. $KKR

Key Points

• Delta Global Management LP cut its KKR stake by 14.8% in the fourth quarter, selling 18,457 shares and leaving it with 106,120 shares valued at about $13.53 million.
• KKR reported solid recent results, posting $1.24 in quarterly EPS on $5.74 billion in revenue, while analysts expect $5.51 EPS for the current fiscal year.
• The company approved a $500 million share buyback and raised its quarterly dividend to $0.195 per share, bringing the annualized yield to about 0.8%.

Delta Global Management LP lowered its holdings in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 14.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 106,120 shares of the asset manager's stock after selling 18,457 shares during the period. Delta Global Management LP's holdings in KKR & Co. Inc. were worth $13,528,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in KKR & Co. Inc. by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 60,064,587 shares of the asset manager's stock worth $7,657,034,000 after purchasing an additional 821,739 shares during the period. Geode Capital Management LLC grew its stake in KKR & Co. Inc. by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 14,995,742 shares of the asset manager's stock worth $1,903,220,000 after purchasing an additional 146,285 shares during the period. Norges Bank acquired a new stake in KKR & Co. Inc. during the fourth quarter worth approximately $1,715,929,000. Capital Research Global Investors grew its stake in KKR & Co. Inc. by 0.4% during the fourth quarter. Capital Research Global Investors now owns 5,602,262 shares of the asset manager's stock worth $714,195,000 after purchasing an additional 23,483 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in KKR & Co. Inc. by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,866,227 shares of the asset manager's stock worth $620,347,000 after purchasing an additional 129,745 shares during the period. Institutional investors and hedge funds own 76.26% of the company's stock.

KKR & Co. Inc. Trading Up 1.8%

Shares of KKR & Co. Inc. stock opened at $97.98 on Tuesday. KKR & Co. Inc. has a 52 week low of $82.67 and a 52 week high of $153.87. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.08 and a current ratio of 0.08. The stock has a 50 day moving average price of $97.40 and a two-hundred day moving average price of $107.21. The stock has a market capitalization of $87.98 billion, a PE ratio of 33.33, a price-to-earnings-growth ratio of 0.83 and a beta of 1.80.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last posted its earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%.The company had revenue of $5.74 billion for the quarter. As a group, equities analysts anticipate that KKR & Co. Inc. will post 5.51 earnings per share for the current fiscal year.

KKR & Co. Inc. declared that its board has authorized a share buyback plan on Tuesday, May 5th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to reacquire up to 0.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

KKR & Co. Inc. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were issued a $0.195 dividend. This is a boost from KKR & Co. Inc.'s previous quarterly dividend of $0.19. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, May 15th. KKR & Co. Inc.'s dividend payout ratio is 26.53%.

Analyst Ratings Changes

KKR has been the subject of several recent analyst reports. BMO Capital Markets decreased their target price on KKR & Co. Inc. from $125.00 to $106.00 and set an "outperform" rating for the company in a research note on Tuesday, March 24th. Weiss Ratings cut KKR & Co. Inc. from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, May 21st. UBS Group raised their price objective on KKR & Co. Inc. from $113.00 to $126.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Morgan Stanley reduced their price objective on KKR & Co. Inc. from $177.00 to $153.00 and set an "overweight" rating for the company in a research note on Tuesday, April 21st. Finally, TD Cowen reduced their price objective on KKR & Co. Inc. from $106.00 to $104.00 and set a "hold" rating for the company in a research note on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $134.53.

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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