KKR & Co. Inc. $KKR Shares Acquired by Castleview Partners LLC

Key Points

• Castleview Partners LLC boosted its stake in KKR & Co. Inc. by 84.5% in the first quarter, ending with 36,761 shares valued at about $3.4 million.
• KKR’s stock was trading near $96.95, with a market cap of $87.05 billion; the shares have ranged from $82.67 to $153.87 over the past year.
• The company raised its quarterly dividend to $0.195 per share and also authorized a $500 million share repurchase plan, while analysts currently rate the stock a Moderate Buy with an average price target of $131.85.

Castleview Partners LLC increased its stake in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 84.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,761 shares of the asset manager's stock after buying an additional 16,837 shares during the quarter. KKR & Co. Inc. comprises approximately 1.7% of Castleview Partners LLC's investment portfolio, making the stock its 11th biggest holding. Castleview Partners LLC's holdings in KKR & Co. Inc. were worth $3,400,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC boosted its position in KKR & Co. Inc. by 109.6% in the fourth quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager's stock valued at $689,000 after buying an additional 2,437 shares during the last quarter. Bison Wealth LLC purchased a new stake in shares of KKR & Co. Inc. in the 4th quarter valued at $218,000. Sivia Capital Partners LLC increased its stake in shares of KKR & Co. Inc. by 13.1% in the second quarter. Sivia Capital Partners LLC now owns 2,050 shares of the asset manager's stock worth $273,000 after acquiring an additional 237 shares during the period. United Bank acquired a new position in KKR & Co. Inc. during the second quarter valued at $769,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in KKR & Co. Inc. in the second quarter valued at $4,826,000. 76.26% of the stock is owned by institutional investors and hedge funds.

KKR & Co. Inc. Price Performance

KKR traded up $0.68 on Friday, reaching $96.95. 2,839,186 shares of the company's stock were exchanged, compared to its average volume of 4,302,104. KKR & Co. Inc. has a twelve month low of $82.67 and a twelve month high of $153.87. The stock has a market cap of $87.05 billion, a PE ratio of 32.98, a P/E/G ratio of 0.84 and a beta of 1.79. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.08 and a quick ratio of 0.08. The stock's fifty day moving average price is $95.69 and its 200-day moving average price is $102.63.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last posted its quarterly earnings results on Friday, February 27th. The asset manager reported $1.24 EPS for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%.The firm had revenue of $5.74 billion during the quarter. Sell-side analysts expect that KKR & Co. Inc. will post 5.55 EPS for the current year.

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

KKR & Co. Inc. Increases Dividend

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

Analysts Set New Price Targets

KKR has been the topic of several analyst reports. TD Cowen dropped their target price on KKR & Co. Inc. from $106.00 to $104.00 and set a "hold" rating on the stock in a report on Monday, May 18th. UBS Group lifted their price objective on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Weiss Ratings raised shares of KKR & Co. Inc. from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, June 16th. Morgan Stanley reduced their price target on KKR & Co. Inc. from $177.00 to $153.00 and set an "overweight" rating for the company in a report on Tuesday, April 21st. Finally, Barclays boosted their price objective on KKR & Co. Inc. from $122.00 to $124.00 and gave the company an "overweight" rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $131.85.

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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