Jupiter Topco LLC Makes New $5 Million Investment in KKR & Co. Inc. $KKR

Key Points

• Jupiter Topco LLC purchased 54,481 KKR shares worth approximately $5 million during the second quarter. Institutional investors collectively own 76.26% of KKR’s outstanding stock.
• Analysts remain broadly positive, with 12 Buy ratings and three Holds; KKR has a “Moderate Buy” consensus rating and an average price target of $130.
• KKR exceeded quarterly earnings expectations, reporting $1.63 in EPS versus $1.43 anticipated, while also authorizing a $500 million share-repurchase program and maintaining a $0.78 annualized dividend.

Jupiter Topco LLC bought a new stake in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 54,481 shares of the asset manager's stock, valued at approximately $4,998,000.

Several other hedge funds also recently modified their holdings of the business. Norges Bank acquired a new stake in KKR & Co. Inc. during the 4th quarter worth $1,715,929,000. Legal & General Group Plc acquired a new position in shares of KKR & Co. Inc. in the 2nd quarter valued at $470,778,000. Bank of New York Mellon Corp acquired a new position in shares of KKR & Co. Inc. in the 2nd quarter valued at $298,311,000. Viking Global Investors LP bought a new position in shares of KKR & Co. Inc. in the 3rd quarter worth $352,038,000. Finally, Temasek Holdings Private Ltd boosted its position in shares of KKR & Co. Inc. by 164.4% in the 1st quarter. Temasek Holdings Private Ltd now owns 3,522,797 shares of the asset manager's stock worth $325,859,000 after purchasing an additional 2,190,248 shares during the last quarter. Institutional investors own 76.26% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Barclays upped their price objective on KKR & Co. Inc. from $124.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, July 31st. Morgan Stanley decreased their target price on KKR & Co. Inc. from $153.00 to $147.00 and set an "overweight" rating for the company in a research report on Tuesday, July 21st. Argus upped their price target on KKR & Co. Inc. from $115.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, August 4th. UBS Group increased their price target on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Finally, BMO Capital Markets lifted their price objective on shares of KKR & Co. Inc. from $112.00 to $118.00 and gave the stock an "outperform" rating in a research note on Monday, August 3rd. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, KKR & Co. Inc. has an average rating of "Moderate Buy" and an average target price of $130.00.

KKR & Co. Inc. Stock Up 1.2%

KKR stock opened at $109.99 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a market capitalization of $98.73 billion, a P/E ratio of 35.03, a P/E/G ratio of 0.92 and a beta of 1.78. The business has a 50-day moving average of $101.42 and a 200-day moving average of $97.70. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $152.10.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The asset manager reported $1.63 earnings per share for the quarter, topping 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 firm had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the prior year, the firm posted $1.18 EPS. On average, sell-side analysts anticipate that KKR & Co. Inc. will post 5.68 earnings per share for the current fiscal year.

KKR & Co. Inc. announced that its board has initiated a share repurchase plan on Tuesday, May 5th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to buy up to 0.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

KKR & Co. Inc. Dividend Announcement

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

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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