Healthcare of Ontario Pension Plan Trust Fund Buys 209,081 Shares of KKR & Co. Inc. $KKR

Key Points

• Healthcare of Ontario Pension Plan Trust Fund increased its KKR stake by 92.1% in the first quarter, buying 209,081 additional shares to bring its total to 436,213 shares worth about $40.35 million.
• Analyst sentiment remains positive overall, with KKR carrying a consensus rating of “Moderate Buy” and an average price target of $128.08. Recent moves were mixed, including a higher target from Barclays and a lower target from Morgan Stanley.
• KKR recently raised its quarterly dividend to $0.195 per share and authorized a $500 million stock buyback. The stock was trading at $99.48 and is well below its 52-week high of $153.87.

Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 92.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 436,213 shares of the asset manager's stock after acquiring an additional 209,081 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund's holdings in KKR & Co. Inc. were worth $40,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of KKR & Co. Inc. in the fourth quarter valued at about $1,715,929,000. Viking Global Investors LP bought a new position in shares of KKR & Co. Inc. during the third quarter valued at about $352,038,000. Temasek Holdings Private Ltd lifted its position in shares of KKR & Co. Inc. by 164.4% during the first quarter. Temasek Holdings Private Ltd now owns 3,522,797 shares of the asset manager's stock valued at $325,859,000 after purchasing an additional 2,190,248 shares in the last quarter. Farallon Capital Management LLC purchased a new position in KKR & Co. Inc. during the fourth quarter worth about $257,216,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in KKR & Co. Inc. by 41.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,401,951 shares of the asset manager's stock worth $561,161,000 after purchasing an additional 1,295,099 shares during the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on KKR. Barclays increased their price objective on shares of KKR & Co. Inc. from $122.00 to $124.00 and gave the company an "overweight" rating in a research note on Friday, July 10th. Morgan Stanley cut their target price on KKR & Co. Inc. from $153.00 to $147.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 21st. Keefe, Bruyette & Woods raised KKR & Co. Inc. to a "moderate buy" rating in a report on Monday, July 20th. TD Cowen decreased their price target on KKR & Co. Inc. from $106.00 to $104.00 and set a "hold" rating for the company in a research report on Monday, May 18th. Finally, Zacks Research upgraded KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a report on Thursday, May 28th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, KKR & Co. Inc. has a consensus rating of "Moderate Buy" and an average target price of $128.08.

KKR & Co. Inc. Price Performance

KKR opened at $99.48 on Friday. The firm has a market cap of $89.32 billion, a P/E ratio of 33.84, a PEG ratio of 0.84 and a beta of 1.79. The firm has a 50-day moving average of $95.30 and a 200 day moving average of $100.44. 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. has a fifty-two week low of $82.67 and a fifty-two week high of $153.87.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last posted its quarterly earnings data on Friday, February 27th. The asset manager reported $1.24 earnings per share (EPS) for the quarter. The business had revenue of $5.74 billion during the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. On average, research analysts expect that KKR & Co. Inc. will post 5.54 EPS for the current year.

KKR & Co. Inc. Increases Dividend

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

KKR & Co. Inc. announced that its Board of Directors has initiated a stock buyback 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 purchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its stock is undervalued.

Insider Activity at KKR & Co. Inc.

In related news, EVP Yael Cosset sold 30,000 shares of KKR & Co. Inc. stock in a transaction that occurred on Tuesday, July 14th. The shares were sold at an average price of $58.80, for a total value of $1,764,000.00. Following the sale, the executive vice president owned 127,868 shares of the company's stock, valued at approximately $7,518,638.40. The trade was a 19.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company 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.

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