Handelsbanken Fonder AB Buys 42,052 Shares of KKR & Co. Inc. $KKR

Key Points

• Handelsbanken Fonder AB increased its KKR stake by 17.8% in the fourth quarter, buying 42,052 additional shares and bringing its total holdings to 278,803 shares worth about $35.5 million.
• KKR has seen mixed analyst sentiment: Zacks downgraded the stock to strong sell, while other firms such as UBS and RBC maintained positive views. Overall, the stock carries a consensus Moderate Buy rating with an average price target of $134.53.
• The company raised its quarterly dividend to $0.195 per share and authorized a $500 million share repurchase program, even as the stock traded down 3.1% and recently opened at $92.95.

Handelsbanken Fonder AB grew its stake in KKR & Co. Inc. (NYSE:KKR - Free Report) by 17.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 278,803 shares of the asset manager's stock after acquiring an additional 42,052 shares during the period. Handelsbanken Fonder AB's holdings in KKR & Co. Inc. were worth $35,542,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of KKR. ESL Trust Services LLC acquired a new stake in KKR & Co. Inc. in the 3rd quarter valued at about $26,000. Asset Dedication LLC acquired a new stake in KKR & Co. Inc. in the 3rd quarter valued at about $26,000. GGM Financials LLC acquired a new stake in KKR & Co. Inc. in the 3rd quarter valued at about $27,000. Washington Trust Advisors Inc. acquired a new stake in KKR & Co. Inc. in the 4th quarter valued at about $27,000. Finally, Elyxium Wealth LLC acquired a new stake in KKR & Co. Inc. in the 4th quarter valued at about $27,000. Institutional investors own 76.26% of the company's stock.

Analyst Ratings Changes

KKR has been the subject of several research reports. Zacks Research downgraded shares of KKR & Co. Inc. from a "hold" rating to a "strong sell" rating in a research report on Monday, April 13th. Morgan Stanley cut their price objective on shares of KKR & Co. Inc. from $177.00 to $153.00 and set an "overweight" rating for the company in a research report on Tuesday, April 21st. TD Cowen cut 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 research report on Monday. UBS Group raised 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 report on Wednesday, May 6th. Finally, Royal Bank Of Canada cut their price objective on shares of KKR & Co. Inc. from $132.00 to $128.00 and set an "outperform" rating for the company in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $134.53.

KKR & Co. Inc. Stock Down 3.1%

NYSE KKR opened at $92.95 on Wednesday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.70. KKR & Co. Inc. has a 1-year low of $82.67 and a 1-year high of $153.87. The company has a 50 day moving average of $95.39 and a 200-day moving average of $110.42. The company has a market cap of $83.46 billion, a price-to-earnings ratio of 31.62, a PEG ratio of 0.85 and a beta of 1.85.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its quarterly earnings results 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 company had revenue of $5.74 billion during the quarter. On average, equities research analysts expect that KKR & Co. Inc. will post 5.46 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be given a $0.195 dividend. The ex-dividend date is Friday, May 15th. This is a positive change from KKR & Co. Inc.'s previous quarterly dividend of $0.19. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.8%. KKR & Co. Inc.'s dividend payout ratio (DPR) is presently 26.53%.

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

Insider Buying and Selling at KKR & Co. Inc.

In other KKR & Co. Inc. news, Director Timothy R. Barakett purchased 50,000 shares of the company's stock in a transaction dated Wednesday, March 4th. The stock was bought at an average cost of $94.47 per share, for a total transaction of $4,723,500.00. Following the completion of the transaction, the director owned 285,000 shares in the company, valued at approximately $26,923,950. This represents a 21.28% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 23.20% of the company's stock.

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.

Want to see what other hedge funds are holding KKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KKR & Co. Inc. (NYSE:KKR - Free Report).

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.