Ieq Capital LLC Makes New $13.03 Million Investment in KKR & Co. Inc. $KKR

Key Points

• Ieq Capital acquired 142,000 KKR shares during the second quarter, valued at approximately $13.03 million. Hedge funds and institutional investors collectively own 76.26% of KKR.
• KKR reported quarterly earnings of $1.63 per share, exceeding the $1.43 analyst consensus, while revenue reached $5.73 billion versus expectations of $2.55 billion.
• Analysts maintain a favorable outlook, with a “Moderate Buy” consensus and an average price target of $127.75; KKR also declared a $0.195 quarterly dividend and authorized a $500 million share buyback.

Ieq Capital LLC acquired a new position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 142,000 shares of the asset manager's stock, valued at approximately $13,033,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Washington Trust Advisors Inc. acquired a new stake in shares of KKR & Co. Inc. during the fourth quarter worth $27,000. Elyxium Wealth LLC acquired a new stake in KKR & Co. Inc. during the fourth quarter worth about $27,000. SouthState Bank Corp increased its holdings in shares of 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 in the last quarter. Garton & Associates Financial Advisors LLC purchased a new position in KKR & Co. Inc. in the fourth quarter valued at $29,000. Finally, MV Capital Management Inc. purchased a new position in shares of KKR & Co. Inc. in the 4th quarter valued at about $31,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

KKR & Co. Inc. Trading Up 1.5%

NYSE KKR opened at $108.59 on Friday. The stock has a market capitalization of $97.47 billion, a PE ratio of 34.58, a price-to-earnings-growth ratio of 0.93 and a beta of 1.78. The firm has a 50 day moving average of $100.09 and a two-hundred day moving average of $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. 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 posted its quarterly earnings results on Thursday, July 30th. The asset manager reported $1.63 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.20. KKR & Co. Inc. had a return on equity of 5.88% and a net margin of 14.41%.The company had revenue of $5.73 billion for the quarter, compared to analysts' expectations of $2.55 billion. During the same period last year, the firm earned $1.18 earnings per share. As a group, research analysts expect that KKR & Co. Inc. will post 5.68 EPS for the current fiscal year.

KKR & Co. Inc. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Monday, August 10th will be paid a $0.195 dividend. This represents a $0.78 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, August 10th. KKR & Co. Inc.'s dividend payout ratio is currently 24.84%.

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on KKR. UBS Group boosted their price target on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Oppenheimer reduced their price objective on KKR & Co. Inc. from $143.00 to $139.00 and set an "outperform" rating on the stock in a research report on Friday, July 17th. Morgan Stanley reduced their target price on shares of 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. 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 note on Monday, August 3rd. Finally, Royal Bank Of Canada increased their price objective on shares of KKR & Co. Inc. from $125.00 to $134.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $127.75.

About KKR & Co. Inc.

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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