Hsbc Holdings PLC Boosts Holdings in KKR & Co. Inc. $KKR

Key Points

• Hsbc Holdings PLC increased its stake in KKR & Co. Inc. by 3.2% during the first quarter, now owning 1,274,450 shares valued at approximately $146.7 million.
• Analysts have expressed optimism for KKR, with multiple upgrades and price target increases, leading to an average rating of "Moderate Buy" and a price target of $157.73.
• KKR recently announced a quarterly dividend of $0.185, reflecting an increase from the previous $0.18 dividend, with a yield of 0.5% for shareholders.

Hsbc Holdings PLC boosted its position in KKR & Co. Inc. (NYSE:KKR - Free Report) by 3.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,274,450 shares of the asset manager's stock after purchasing an additional 39,315 shares during the quarter. Hsbc Holdings PLC owned about 0.14% of KKR & Co. Inc. worth $146,737,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Lansforsakringar Fondforvaltning AB publ purchased a new stake in KKR & Co. Inc. in the 4th quarter worth approximately $31,029,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in KKR & Co. Inc. in the 4th quarter worth approximately $50,199,000. National Bank of Canada FI lifted its stake in KKR & Co. Inc. by 44.0% in the 1st quarter. National Bank of Canada FI now owns 778,692 shares of the asset manager's stock worth $90,078,000 after purchasing an additional 237,987 shares in the last quarter. Valeo Financial Advisors LLC raised its position in shares of KKR & Co. Inc. by 39.6% during the 1st quarter. Valeo Financial Advisors LLC now owns 7,076 shares of the asset manager's stock valued at $818,000 after buying an additional 2,006 shares in the last quarter. Finally, CWM LLC raised its position in shares of KKR & Co. Inc. by 4.6% during the 1st quarter. CWM LLC now owns 8,987 shares of the asset manager's stock valued at $1,039,000 after buying an additional 398 shares in the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on KKR shares. Wall Street Zen upgraded shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Oppenheimer raised their price objective on shares of KKR & Co. Inc. from $149.00 to $162.00 and gave the company an "outperform" rating in a research report on Monday, July 14th. Wells Fargo & Company raised their price objective on shares of KKR & Co. Inc. from $140.00 to $156.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Citigroup raised their price objective on shares of KKR & Co. Inc. from $160.00 to $170.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Piper Sandler started coverage on shares of KKR & Co. Inc. in a research report on Monday, June 30th. They set an "overweight" rating and a $150.00 price objective on the stock. Thirteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $157.73.

KKR & Co. Inc. Price Performance

Shares of KKR & Co. Inc. stock opened at $138.8340 on Wednesday. The firm has a market cap of $123.69 billion, a PE ratio of 64.57, a price-to-earnings-growth ratio of 1.52 and a beta of 1.87. KKR & Co. Inc. has a 12-month low of $86.15 and a 12-month high of $170.40. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.77. The company's fifty day simple moving average is $138.45 and its two-hundred day simple moving average is $126.70.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.04. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.81 billion. KKR & Co. Inc. had a net margin of 12.95% and a return on equity of 6.30%. During the same quarter last year, the firm earned $1.09 EPS. As a group, equities analysts expect that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th will be issued a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 0.5%. This is a positive change from KKR & Co. Inc.'s previous quarterly dividend of $0.18. KKR & Co. Inc.'s dividend payout ratio (DPR) is 34.42%.

Insiders Place Their Bets

In other KKR & Co. Inc. news, Chairman Henry R. Kravis sold 130,925 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $121.67, for a total value of $15,929,644.75. Following the sale, the chairman owned 73,006,022 shares of the company's stock, valued at $8,882,642,696.74. This trade represents a 0.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman George R. Roberts sold 809,906 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $144.25, for a total transaction of $116,828,940.50. Following the completion of the sale, the chairman directly owned 81,361,978 shares in the company, valued at approximately $11,736,465,326.50. This trade represents a 0.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,281,394 shares of company stock valued at $413,158,033 in the last quarter. Insiders own 39.34% of the company's stock.

KKR & Co. Inc. Company Profile

KKR & Co, Inc operates as an investment firm. It offers alternative asset management as well as capital markets and insurance solutions. The firm's business segments include Asset Management and Insurance Business. The Asset Management segment engages in providing private equity, real assets, credit and liquid strategies, capital markets, and principal activities.

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