Edmond DE Rothschild Holding S.A. Acquires Shares of 35,655 KKR & Co. Inc. $KKR

Key Points

• Edmond DE Rothschild Holding acquired 35,655 KKR shares worth approximately $3.27 million during the second quarter. Institutional investors collectively own 76.26% of KKR’s outstanding stock.
• Analysts maintain a generally positive view, with 12 Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $127.75.
• KKR exceeded quarterly earnings expectations, reporting $1.63 in EPS versus $1.43 expected and $5.73 billion in revenue. The company also declared a $0.195 quarterly dividend and authorized a $500 million share-repurchase program.

Edmond DE Rothschild Holding S.A. bought a new position in KKR & Co. Inc. (NYSE:KKR - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 35,655 shares of the asset manager's stock, valued at approximately $3,272,000.

Other institutional investors have also modified their holdings of the company. Border to Coast Pensions Partnership Ltd raised its holdings in shares of KKR & Co. Inc. by 14.5% in the first quarter. Border to Coast Pensions Partnership Ltd now owns 435,000 shares of the asset manager's stock valued at $40,361,000 after acquiring an additional 55,000 shares in the last quarter. Andra AP fonden grew its holdings in KKR & Co. Inc. by 201.7% during the 1st quarter. Andra AP fonden now owns 57,630 shares of the asset manager's stock worth $5,331,000 after acquiring an additional 38,530 shares in the last quarter. Concurrent Investment Advisors LLC grew its holdings in KKR & Co. Inc. by 125.6% during the 4th quarter. Concurrent Investment Advisors LLC now owns 19,728 shares of the asset manager's stock worth $2,515,000 after acquiring an additional 10,982 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in KKR & Co. Inc. by 152.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 174,004 shares of the asset manager's stock valued at $22,182,000 after purchasing an additional 105,070 shares during the period. Finally, Next Capital Management LLC increased its position in KKR & Co. Inc. by 135.6% during the 1st quarter. Next Capital Management LLC now owns 47,771 shares of the asset manager's stock valued at $4,419,000 after purchasing an additional 27,498 shares during the period. 76.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on KKR shares. Morgan Stanley lowered 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 research report on Tuesday, July 21st. Barclays lifted their price objective on shares of KKR & Co. Inc. from $124.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, July 31st. Weiss Ratings raised shares of KKR & Co. Inc. from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, June 16th. HSBC upped their target price on KKR & Co. Inc. from $118.00 to $121.00 and gave the stock a "buy" rating in a report on Monday, July 20th. Finally, TD Cowen lifted their price target on KKR & Co. Inc. from $108.00 to $111.00 and gave the company a "hold" rating in a report on Monday, August 3rd. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $127.75.

KKR & Co. Inc. Stock Performance

KKR stock opened at $107.21 on Friday. The firm has a market cap of $96.24 billion, a price-to-earnings ratio of 34.14, a PEG ratio of 0.94 and a beta of 1.78. The firm has a 50-day simple moving average of $99.84 and a two-hundred day simple moving average of $97.55. KKR & Co. Inc. has a one year low of $82.67 and a one year high of $152.10. 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. (NYSE:KKR - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The asset manager reported $1.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.20. The firm had revenue of $5.73 billion for the quarter, compared to the consensus estimate 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 in the previous year, the firm earned $1.18 EPS. On average, equities analysts forecast that KKR & Co. Inc. will post 5.68 EPS for the current fiscal year.

KKR & Co. Inc. Announces Dividend

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

KKR & Co. Inc. declared that its Board of Directors has initiated a share repurchase program on Tuesday, May 5th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows 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 management believes its stock is undervalued.

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.

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