Element Pointe Advisors LLC Acquires New Shares in KKR & Co. Inc. $KKR

Key Points

• Element Pointe Advisors acquired 10,635 KKR shares worth approximately $976,000 during the second quarter. Several other institutional investors also initiated positions, and institutions collectively own 76.26% of KKR.
• KKR reported quarterly earnings of $1.63 per share, exceeding the $1.43 consensus estimate, while revenue reached $5.73 billion versus expectations of $2.55 billion.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $127.75, compared with the stock’s reported price of $107.21. KKR also declared a $0.195 quarterly dividend and authorized a $500 million share-repurchase program.

Element Pointe Advisors LLC bought a new stake in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 10,635 shares of the asset manager's stock, valued at approximately $976,000.

A number of other institutional investors and hedge funds have also modified their holdings of KKR. Meeder Advisory Services Inc. purchased a new position in shares of KKR & Co. Inc. in the second quarter worth $932,000. Texas Capital Bank Wealth Management Services Inc purchased a new stake in shares of KKR & Co. Inc. during the second quarter valued at $234,000. Cornerstone Advisors LLC bought a new stake in KKR & Co. Inc. in the 2nd quarter worth about $10,879,000. B & T Capital Management DBA Alpha Capital Management purchased a new position in KKR & Co. Inc. in the 2nd quarter worth about $9,353,000. Finally, Pallas Capital Advisors LLC bought a new position in KKR & Co. Inc. during the 2nd quarter valued at about $612,000. Institutional investors own 76.26% of the company's stock.

KKR & Co. Inc. Trading Down 1.5%

KKR & Co. Inc. stock opened at $107.21 on Wednesday. KKR & Co. Inc. has a 52-week low of $82.67 and a 52-week high of $152.10. The company has a market cap of $96.24 billion, a P/E ratio of 34.14, a P/E/G ratio of 0.97 and a beta of 1.78. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.71. The business has a 50-day simple moving average of $99.30 and a two-hundred day simple moving average of $97.63.

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 for the quarter, topping the consensus estimate of $1.43 by $0.20. The firm had revenue of $5.73 billion for the quarter, compared to analysts' expectations 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 prior year, the business earned $1.18 EPS. Analysts predict that KKR & Co. Inc. will post 5.68 EPS for the current year.

KKR & Co. Inc. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Monday, August 10th will be given a $0.195 dividend. The ex-dividend date is 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 presently 24.84%.

KKR & Co. Inc. announced that its board has approved a stock repurchase program on Tuesday, May 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the asset manager to repurchase up to 0.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. UBS Group raised their price target on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Morgan Stanley decreased their price objective 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. 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. Zacks Research raised shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 28th. Finally, Royal Bank Of Canada boosted their target price on shares of KKR & Co. Inc. from $125.00 to $134.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $127.75.

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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