Freestone Grove Partners LP Takes Position in KKR & Co. Inc. $KKR

Key Points

• Freestone Grove Partners LP purchased 594,658 KKR shares worth approximately $54.6 million, representing about 0.07% of the company. Institutional investors collectively own 76.26% of KKR.
• Analyst sentiment is positive, with 12 Buy ratings and three Holds; KKR has a consensus “Moderate Buy” rating and a $127.75 price target.
• KKR exceeded quarterly earnings expectations, reporting EPS of $1.63 versus the $1.43 consensus and revenue of $5.73 billion. The company also maintains a $500 million share-repurchase authorization and pays a quarterly dividend of $0.195.

Freestone Grove Partners LP purchased a new position in KKR & Co. Inc. (NYSE:KKR - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 594,658 shares of the asset manager's stock, valued at approximately $54,578,000. Freestone Grove Partners LP owned about 0.07% of KKR & Co. Inc. at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in KKR. Washington Trust Advisors Inc. acquired a new stake in KKR & Co. Inc. during the 4th quarter worth $27,000. Elyxium Wealth LLC purchased a new stake in shares of KKR & Co. Inc. during the fourth quarter worth $27,000. SouthState Bank Corp raised its position in shares of KKR & Co. Inc. by 185.0% in the fourth quarter. SouthState Bank Corp now owns 228 shares of the asset manager's stock valued at $29,000 after buying an additional 148 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new stake in shares of KKR & Co. Inc. in the fourth quarter valued at about $29,000. Finally, MV Capital Management Inc. purchased a new position in shares of KKR & Co. Inc. in the fourth quarter worth about $31,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KKR has been the topic of a number of recent research reports. Keefe, Bruyette & Woods upgraded shares of KKR & Co. Inc. to a "moderate buy" rating in a research report on Monday, July 20th. 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 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 note on Thursday, May 28th. Argus boosted their target price on KKR & Co. Inc. from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, August 4th. Finally, BMO Capital Markets upped their price target on KKR & Co. Inc. from $112.00 to $118.00 and gave the company an "outperform" rating in a research report on Monday, August 3rd. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $127.75.

KKR & Co. Inc. Stock Up 0.9%

NYSE KKR opened at $108.60 on Thursday. The business's fifty day simple moving average is $100.68 and its 200-day simple moving average is $97.62. 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 firm has a market cap of $97.48 billion, a PE ratio of 34.59, a P/E/G ratio of 0.91 and a beta of 1.78. KKR & Co. Inc. has a 52 week low of $82.67 and a 52 week high of $152.10.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The asset manager reported $1.63 earnings per share (EPS) for the quarter, beating 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 prior year, the firm posted $1.18 earnings per share. As a group, equities analysts anticipate that KKR & Co. Inc. will post 5.68 earnings per share for the current year.

KKR & Co. Inc. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Monday, August 10th were paid a $0.195 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.78 annualized dividend and a dividend yield of 0.7%. KKR & Co. Inc.'s dividend payout ratio is 24.84%.

KKR & Co. Inc. announced that its board has approved a stock buyback plan on Tuesday, May 5th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the asset manager to reacquire up to 0.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board believes its shares are undervalued.

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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