EP Wealth Advisors LLC Buys New Holdings in KKR & Co. Inc. $KKR

Key Points

• EP Wealth Advisors acquired 80,171 KKR shares in the second quarter, valued at approximately $7.36 million. Institutional investors and hedge funds collectively own 76.26% of KKR.
• Analysts maintain a generally positive outlook, 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 with $1.63 in EPS versus $1.43 estimated and reported $5.73 billion in revenue. The company also declared a $0.195 quarterly dividend and authorized a $500 million share-buyback program.

EP Wealth Advisors LLC bought a new position in KKR & Co. Inc. (NYSE:KKR - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 80,171 shares of the asset manager's stock, valued at approximately $7,358,000.

Other institutional investors have also recently bought and sold shares of the company. Border to Coast Pensions Partnership Ltd raised its holdings in shares of KKR & Co. Inc. by 14.5% in the 1st quarter. Border to Coast Pensions Partnership Ltd now owns 435,000 shares of the asset manager's stock worth $40,361,000 after buying an additional 55,000 shares in the last quarter. Andra AP fonden lifted its position in shares of 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 buying an additional 38,530 shares during the period. Concurrent Investment Advisors LLC boosted its stake in KKR & Co. Inc. by 125.6% in the 4th quarter. Concurrent Investment Advisors LLC now owns 19,728 shares of the asset manager's stock valued at $2,515,000 after buying an additional 10,982 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in KKR & Co. Inc. by 152.4% in 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 buying an additional 105,070 shares in the last quarter. Finally, Next Capital Management LLC grew its position in KKR & Co. Inc. by 135.6% in the first quarter. Next Capital Management LLC now owns 47,771 shares of the asset manager's stock valued at $4,419,000 after acquiring an additional 27,498 shares during the period. Institutional investors and hedge funds own 76.26% of the company's stock.

Wall Street Analyst Weigh In

KKR has been the subject of several recent analyst reports. Barclays increased their price objective on KKR & Co. Inc. from $124.00 to $135.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. TD Cowen upped their target price on shares of KKR & Co. Inc. from $108.00 to $111.00 and gave the stock a "hold" rating in a report on Monday, August 3rd. Morgan Stanley dropped their target price 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. Oppenheimer cut their price target on shares of KKR & Co. Inc. from $143.00 to $139.00 and set an "outperform" rating for the company in a report on Friday, July 17th. Finally, HSBC lifted their price target on shares of 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 assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $127.75.

KKR & Co. Inc. Trading Up 1.5%

Shares of KKR opened at $108.59 on Friday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.71. KKR & Co. Inc. has a 12-month low of $82.67 and a 12-month high of $152.10. The firm has a market capitalization of $97.47 billion, a PE ratio of 34.58, a price-to-earnings-growth ratio of 0.91 and a beta of 1.78. The stock's fifty day simple moving average is $100.09 and its 200-day simple moving average is $97.62.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its earnings results on Thursday, July 30th. The asset manager reported $1.63 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.20. KKR & Co. Inc. had a net margin of 14.41% and a return on equity of 5.88%. The firm had revenue of $5.73 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the previous year, the business earned $1.18 EPS. As a group, research analysts predict that KKR & Co. Inc. will post 5.68 earnings per share 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. Stockholders of record on Monday, August 10th will be given a dividend of $0.195 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.7%. KKR & Co. Inc.'s dividend payout ratio (DPR) is currently 24.84%.

KKR & Co. Inc. announced that its Board of Directors has initiated 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 buy up to 0.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are 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.

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