KKR & Co. Inc. $KKR Shares Bought by Axxcess Wealth Management LLC

Key Points

• Axxcess Wealth Management LLC sharply increased its stake in KKR & Co. Inc. by 1,386.8% in the fourth quarter, ending with 24,532 shares worth about $3.13 million.
• KKR’s board approved a $500 million share repurchase program and also raised its quarterly dividend to $0.195 per share, or $0.78 annually, for a yield of about 0.8%.
• Analysts remain generally positive despite recent target cuts: the stock has a Moderate Buy consensus with an average price target of $134.53, while shares recently traded around $94.

Axxcess Wealth Management LLC boosted its position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 1,386.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 24,532 shares of the asset manager's stock after acquiring an additional 22,882 shares during the quarter. Axxcess Wealth Management LLC's holdings in KKR & Co. Inc. were worth $3,127,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ESL Trust Services LLC acquired a new position in KKR & Co. Inc. in the 3rd quarter worth approximately $26,000. Asset Dedication LLC acquired a new stake in KKR & Co. Inc. during the 3rd quarter valued at approximately $26,000. GGM Financials LLC purchased a new stake in shares of KKR & Co. Inc. in the 3rd quarter valued at $27,000. Washington Trust Advisors Inc. purchased a new stake in shares of KKR & Co. Inc. in the 4th quarter valued at $27,000. Finally, Elyxium Wealth LLC purchased a new stake in shares of KKR & Co. Inc. in the 4th quarter valued at $27,000. Institutional investors and hedge funds own 76.26% of the company's stock.

Insider Transactions at KKR & Co. Inc.

In related news, Director Timothy R. Barakett purchased 50,000 shares of the company's stock in a transaction that occurred on Wednesday, March 4th. The shares were purchased at an average price of $94.47 per share, with a total value of $4,723,500.00. Following the purchase, the director owned 285,000 shares of the company's stock, valued at $26,923,950. The trade was a 21.28% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 23.20% of the company's stock.

KKR & Co. Inc. Price Performance

KKR & Co. Inc. stock opened at $94.02 on Monday. The company's fifty day moving average price is $95.69 and its 200 day moving average price is $109.92. KKR & Co. Inc. has a 1 year low of $82.67 and a 1 year high of $153.87. The stock has a market capitalization of $84.42 billion, a P/E ratio of 31.98, a P/E/G ratio of 0.83 and a beta of 1.85. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.08 and a current ratio of 0.08.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $5.74 billion for the quarter. As a group, equities research analysts anticipate that KKR & Co. Inc. will post 5.46 earnings per share for the current fiscal year.

KKR & Co. Inc. announced that its Board of Directors has initiated a stock repurchase 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 reacquire 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.

KKR & Co. Inc. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be paid a $0.195 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $0.78 dividend on an annualized basis and a yield of 0.8%. This is an increase from KKR & Co. Inc.'s previous quarterly dividend of $0.19. KKR & Co. Inc.'s dividend payout ratio is 26.53%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Weiss Ratings downgraded shares of KKR & Co. Inc. from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday. Morgan Stanley lowered their price target on shares of KKR & Co. Inc. from $177.00 to $153.00 and set an "overweight" rating on the stock in a report on Tuesday, April 21st. Oppenheimer reduced their price objective on KKR & Co. Inc. from $187.00 to $140.00 and set an "outperform" rating for the company in a research note on Monday, April 13th. TD Cowen reduced their price objective on KKR & Co. Inc. from $106.00 to $104.00 and set a "hold" rating for the company in a research note on Monday, May 18th. Finally, Piper Sandler lowered their target price on KKR & Co. Inc. from $135.00 to $117.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average 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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