KKR & Co. Inc. $KKR Shares Bought by Brookstone Capital Management

Key Points

• Brookstone Capital Management increased its KKR stake by 40.4% in the first quarter, buying 50,795 additional shares and bringing its total holding to 176,574 shares valued at about $16.33 million.
• Other major institutions also adjusted positions, with firms like Vanguard and Geode adding shares; overall, 76.26% of KKR stock is owned by institutional investors and hedge funds.
• Analysts remain generally positive on KKR despite some target cuts, with a consensus “Moderate Buy” rating and average price target of $134.53; the company also recently raised its quarterly dividend and authorized a $500 million share buyback.

Brookstone Capital Management grew its stake in KKR & Co. Inc. (NYSE:KKR - Free Report) by 40.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 176,574 shares of the asset manager's stock after buying an additional 50,795 shares during the period. Brookstone Capital Management's holdings in KKR & Co. Inc. were worth $16,333,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in KKR & Co. Inc. by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 60,064,587 shares of the asset manager's stock worth $7,657,034,000 after acquiring an additional 821,739 shares during the last quarter. Geode Capital Management LLC grew its stake in KKR & Co. Inc. by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 14,995,742 shares of the asset manager's stock valued at $1,903,220,000 after purchasing an additional 146,285 shares during the last quarter. Norges Bank acquired a new position in shares of KKR & Co. Inc. in the fourth quarter valued at about $1,715,929,000. First Manhattan CO. LLC. raised its stake in shares of KKR & Co. Inc. by 0.8% in the fourth quarter. First Manhattan CO. LLC. now owns 8,597,044 shares of the asset manager's stock worth $1,095,951,000 after purchasing an additional 67,441 shares during the last quarter. Finally, Capital Research Global Investors raised its stake in shares of KKR & Co. Inc. by 0.4% in the fourth quarter. Capital Research Global Investors now owns 5,602,262 shares of the asset manager's stock worth $714,195,000 after purchasing an additional 23,483 shares during the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on KKR. Barclays reduced their price target 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. 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. UBS Group raised their target price on KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Weiss Ratings upgraded KKR & Co. Inc. from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, June 16th. Finally, Piper Sandler decreased their price target on KKR & Co. Inc. from $135.00 to $117.00 and set an "overweight" rating for the company in a report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, KKR & Co. Inc. presently has a consensus rating of "Moderate Buy" and an average target price of $134.53.

KKR & Co. Inc. Trading Up 0.0%

KKR stock opened at $97.01 on Monday. KKR & Co. Inc. has a 52-week low of $82.67 and a 52-week high of $153.87. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.70. The firm has a market cap of $87.10 billion, a P/E ratio of 33.00, a PEG ratio of 0.84 and a beta of 1.80. The company's 50-day simple moving average is $97.86 and its 200-day simple moving average is $106.55.

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

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

KKR & Co. Inc. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a $0.195 dividend. 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. The ex-dividend date was Friday, May 15th. KKR & Co. Inc.'s dividend payout ratio (DPR) is presently 26.53%.

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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