Grange Capital LLC Purchases 14,003 Shares of KKR & Co. Inc. $KKR

Key Points

• Grange Capital LLC increased its stake in KKR & Co. Inc. by 93.7% in the first quarter, buying 14,003 additional shares and bringing its total to 28,946 shares worth about $2.68 million.
• KKR stock was up 2.3% and opened at $95.96, while the company remains well owned by institutions, which hold 76.26% of its shares.
• KKR recently raised its quarterly dividend to $0.195 per share and authorized a $500 million share buyback, signaling management’s confidence in the stock.

Grange Capital LLC grew its position in KKR & Co. Inc. (NYSE:KKR - Free Report) by 93.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,946 shares of the asset manager's stock after buying an additional 14,003 shares during the quarter. KKR & Co. Inc. accounts for 2.7% of Grange Capital LLC's holdings, making the stock its 15th largest holding. Grange Capital LLC's holdings in KKR & Co. Inc. were worth $2,678,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Asset Dedication LLC bought a new stake in shares of KKR & Co. Inc. in the third quarter valued at about $26,000. Washington Trust Advisors Inc. bought a new position in KKR & Co. Inc. during the 4th quarter worth about $27,000. Elyxium Wealth LLC bought a new position in KKR & Co. Inc. during the 4th quarter worth about $27,000. SouthState Bank Corp increased its position in 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 purchasing an additional 148 shares during the period. Finally, Garton & Associates Financial Advisors LLC purchased a new position in KKR & Co. Inc. during the 4th quarter valued at about $29,000. Institutional investors own 76.26% of the company's stock.

KKR & Co. Inc. Stock Up 2.3%

Shares of KKR stock opened at $95.96 on Tuesday. The stock's fifty day moving average price is $96.12 and its 200 day moving average price is $103.44. KKR & Co. Inc. has a 1-year low of $82.67 and a 1-year high of $153.87. The company has a market cap of $86.16 billion, a price-to-earnings ratio of 32.64, a price-to-earnings-growth ratio of 0.81 and a beta of 1.79. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.08 and a quick ratio of 0.08.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its quarterly earnings results on Friday, February 27th. The asset manager reported $1.24 EPS for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%.The company had revenue of $5.74 billion during the quarter. On average, research analysts expect that KKR & Co. Inc. will post 5.51 earnings per share for the current fiscal year.

KKR & Co. Inc. declared that its Board of Directors has initiated a share buyback plan on Tuesday, May 5th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the asset manager to buy up to 0.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

KKR & Co. Inc. Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Piper Sandler lowered their price target on shares of KKR & Co. Inc. from $135.00 to $117.00 and set an "overweight" rating for the company in a research report on Tuesday, April 7th. The Goldman Sachs Group cut their price objective on shares of KKR & Co. Inc. from $145.00 to $110.00 and set a "buy" rating on the stock in a report on Tuesday, April 7th. UBS Group boosted their price objective on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Barclays lowered their target price on KKR & Co. Inc. from $127.00 to $122.00 and set an "overweight" rating for the company in a report on Wednesday, May 6th. Finally, BMO Capital Markets dropped their target price on KKR & Co. Inc. from $125.00 to $106.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $134.53.

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.

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.