Fisher Funds Management LTD Raises Stock Holdings in KKR & Co. Inc. $KKR

Key Points

• Fisher Funds Management LTD increased its stake in KKR & Co. Inc. by 9.3% in the first quarter, buying 36,269 more shares and bringing its total holdings to 427,156 shares worth about $39.5 million.
• KKR’s stock and fundamentals showed modest recent movement, with shares opening at $97.01 and the company reporting $1.24 EPS on $5.74 billion in quarterly revenue; analysts expect 5.53 EPS for the current fiscal year.
• Shareholder returns and capital actions include a new $500 million stock repurchase plan and a higher quarterly dividend of $0.195 per share, up from $0.18 previously.

Fisher Funds Management LTD increased its stake in KKR & Co. Inc. (NYSE:KKR - Free Report) by 9.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 427,156 shares of the asset manager's stock after purchasing an additional 36,269 shares during the period. KKR & Co. Inc. makes up approximately 1.2% of Fisher Funds Management LTD's portfolio, making the stock its 28th biggest holding. Fisher Funds Management LTD's holdings in KKR & Co. Inc. were worth $39,512,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of KKR. Asset Dedication LLC bought a new stake in KKR & Co. Inc. during the third quarter valued at approximately $26,000. GGM Financials LLC bought a new position in shares of KKR & Co. Inc. in the 3rd quarter worth $27,000. Washington Trust Advisors Inc. bought a new position in shares of KKR & Co. Inc. in the 4th quarter worth $27,000. Elyxium Wealth LLC bought a new position in shares of KKR & Co. Inc. in the 4th quarter worth $27,000. Finally, SouthState Bank Corp raised its position in shares of KKR & Co. Inc. by 185.0% during the 4th quarter. SouthState Bank Corp now owns 228 shares of the asset manager's stock valued at $29,000 after buying an additional 148 shares in the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

KKR & Co. Inc. Trading Up 0.0%

KKR stock opened at $97.01 on Monday. The company has a market capitalization of $87.10 billion, a PE ratio of 33.00, a price-to-earnings-growth ratio of 0.84 and a beta of 1.80. KKR & Co. Inc. has a one year low of $82.67 and a one year high of $153.87. The company's 50 day moving average price is $97.86 and its two-hundred day moving average price is $106.55. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.08 and a current ratio of 0.08.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its quarterly earnings data on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. The firm had revenue of $5.74 billion during the quarter. As a group, analysts predict that KKR & Co. Inc. will post 5.53 earnings per share for the current fiscal year.

KKR & Co. Inc. announced that its board has initiated a stock repurchase plan on Tuesday, May 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the asset manager to repurchase up to 0.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

KKR & Co. Inc. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, May 15th. This is a boost from KKR & Co. Inc.'s previous quarterly dividend of $0.18. KKR & Co. Inc.'s dividend payout ratio is 26.53%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. TD Cowen dropped their price objective on shares of KKR & Co. Inc. from $106.00 to $104.00 and set a "hold" rating for the company in a report on Monday, May 18th. The Goldman Sachs Group reduced their target price on KKR & Co. Inc. from $145.00 to $110.00 and set a "buy" rating on the stock in a research note on Tuesday, April 7th. Piper Sandler lowered their price target on KKR & Co. Inc. from $135.00 to $117.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 7th. Barclays dropped their price target on KKR & Co. Inc. from $127.00 to $122.00 and set an "overweight" rating for the company in a research note on Wednesday, May 6th. Finally, BMO Capital Markets cut their price objective on KKR & Co. Inc. from $125.00 to $106.00 and set an "outperform" rating for the company in a report on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, KKR & Co. Inc. presently has an average rating of "Moderate Buy" and a consensus target price of $134.53.

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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