KKR & Co. Inc. $KKR Shares Acquired by Louisbourg Investments Inc.

Key Points

• Louisbourg Investments Inc. increased its stake in KKR & Co. Inc. by 80% in the first quarter, buying 25,270 additional shares and bringing its total to 56,845 shares worth about $5.26 million.
• Other institutional investors also adjusted positions in KKR, and hedge funds and other institutions now own 76.26% of the company’s stock, showing continued heavy institutional interest.
• KKR recently raised its quarterly dividend to $0.195 per share and authorized a $500 million share repurchase program, while analysts currently rate the stock a Moderate Buy with a consensus price target of $134.53.

Louisbourg Investments Inc. increased its position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 80.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,845 shares of the asset manager's stock after purchasing an additional 25,270 shares during the quarter. Louisbourg Investments Inc.'s holdings in KKR & Co. Inc. were worth $5,258,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Wernau Asset Management Inc. increased its stake in KKR & Co. Inc. by 1.0% during the first quarter. Wernau Asset Management Inc. now owns 10,877 shares of the asset manager's stock valued at $1,006,000 after purchasing an additional 104 shares during the last quarter. Border to Coast Pensions Partnership Ltd lifted its position in shares of KKR & Co. Inc. by 14.5% in the 1st quarter. Border to Coast Pensions Partnership Ltd now owns 435,000 shares of the asset manager's stock worth $40,361,000 after buying an additional 55,000 shares during the last quarter. Union Bancaire Privee UBP SA boosted its holdings in shares of KKR & Co. Inc. by 54.2% in the 1st quarter. Union Bancaire Privee UBP SA now owns 6,023 shares of the asset manager's stock valued at $518,000 after buying an additional 2,117 shares during the period. Waterway Wealth Management LLC boosted its stake in KKR & Co. Inc. by 7.1% in the first quarter. Waterway Wealth Management LLC now owns 16,724 shares of the asset manager's stock valued at $1,547,000 after acquiring an additional 1,111 shares during the period. Finally, GHP Investment Advisors Inc. acquired a new position in KKR & Co. Inc. during the 1st quarter valued at approximately $39,000. Institutional investors and hedge funds own 76.26% of the company's stock.

KKR & Co. Inc. Price Performance

Shares of KKR & Co. Inc. stock opened at $90.20 on Friday. KKR & Co. Inc. has a 52 week low of $82.67 and a 52 week high of $153.87. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.70. The stock has a market cap of $80.99 billion, a PE ratio of 30.68, a price-to-earnings-growth ratio of 0.78 and a beta of 1.79. The company's 50-day moving average price is $97.42 and its two-hundred day moving average price is $105.50.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its quarterly earnings data on Friday, February 27th. The asset manager reported $1.24 earnings per share (EPS) for the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. The company had revenue of $5.74 billion for the quarter. As a group, sell-side analysts anticipate that KKR & Co. Inc. will post 5.53 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a $0.195 dividend. This is an increase from KKR & Co. Inc.'s previous quarterly dividend of $0.18. This represents a $0.78 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, May 15th. KKR & Co. Inc.'s dividend payout ratio is currently 26.53%.

KKR & Co. Inc. announced that its board has authorized a stock repurchase program on Tuesday, May 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the asset manager to repurchase up to 0.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have commented on KKR. Royal Bank Of Canada decreased their target price on shares of KKR & Co. Inc. from $132.00 to $128.00 and set an "outperform" rating for the company in a research report on Wednesday, May 6th. Barclays decreased their target price on shares of KKR & Co. Inc. from $127.00 to $122.00 and set an "overweight" rating for the company in a research 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. Zacks Research upgraded shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 28th. Finally, The Goldman Sachs Group reduced their price target on shares of KKR & Co. Inc. from $145.00 to $110.00 and set a "buy" rating for the company in a research note on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, KKR & Co. Inc. has an average rating of "Moderate Buy" and a consensus price target of $134.53.

KKR & Co. Inc. Company 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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