KKR & Co. Inc. $KKR Shares Bought by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC increased its stake in KKR & Co. Inc. by 8.7% in the fourth quarter, adding 109,714 shares to bring its total to 1,370,234 shares worth about $174.96 million.
• KKR reported Q4 EPS of $1.24 on revenue of $5.74 billion, and analysts expect the company to earn 5.53 EPS for the current fiscal year.
• The company approved a $500 million share repurchase plan and raised its quarterly dividend to $0.195 per share, up from $0.18 previously.

Hsbc Holdings PLC lifted its stake in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 8.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,370,234 shares of the asset manager's stock after acquiring an additional 109,714 shares during the quarter. Hsbc Holdings PLC owned 0.15% of KKR & Co. Inc. worth $174,955,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Asset Dedication LLC acquired a new position in shares of KKR & Co. Inc. in the 3rd quarter valued at $26,000. GGM Financials LLC purchased a new position in KKR & Co. Inc. in the 3rd quarter worth about $27,000. Washington Trust Advisors Inc. acquired a new stake in KKR & Co. Inc. during the 4th quarter worth about $27,000. Elyxium Wealth LLC purchased a new stake in KKR & Co. Inc. during the fourth quarter valued at about $27,000. Finally, SouthState Bank Corp lifted its stake in KKR & Co. Inc. by 185.0% during the fourth quarter. SouthState Bank Corp now owns 228 shares of the asset manager's stock valued at $29,000 after buying an additional 148 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

KKR & Co. Inc. Trading Up 0.0%

NYSE:KKR opened at $97.01 on Friday. The stock has a market cap of $87.10 billion, a PE ratio of 33.00, a price-to-earnings-growth ratio of 0.84 and a beta of 1.79. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $153.87. 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 50-day moving average is $97.86 and its two-hundred day moving average is $106.65.

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

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

KKR & Co. Inc. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were paid a $0.195 dividend. The ex-dividend date was Friday, May 15th. This represents a $0.78 annualized dividend and a 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%.

Wall Street Analyst Weigh In

KKR has been the topic of several analyst reports. Morgan Stanley dropped their target price on shares of KKR & Co. Inc. from $177.00 to $153.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 21st. 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 report on Tuesday, April 7th. Zacks Research raised shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 28th. Barclays decreased their price objective on shares of KKR & Co. Inc. from $127.00 to $122.00 and set an "overweight" rating for the company in a research note on Wednesday, May 6th. Finally, BMO Capital Markets cut their target price on shares of KKR & Co. Inc. from $125.00 to $106.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $134.53.

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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