KKR & Co. Inc. $KKR Shares Bought by PensionDanmark Pensionsforsikringsaktieselskab

Key Points

• PensionDanmark increased its KKR position by 11% in the second quarter, purchasing 10,400 additional shares and bringing its holdings to 104,570 shares valued at approximately $9.6 million. Institutional investors and hedge funds collectively own 76.26% of KKR.
• KKR reported quarterly earnings of $1.63 per share, exceeding the $1.43 analyst consensus, while revenue reached $5.73 billion versus expectations of $2.55 billion. The company also authorized a $500 million share-buyback program.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $127.75, above the stock’s reported $102.68 opening price; KKR also declared a quarterly dividend of $0.195 per share.

PensionDanmark Pensionsforsikringsaktieselskab raised its position in KKR & Co. Inc. (NYSE:KKR - Free Report) by 11.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 104,570 shares of the asset manager's stock after buying an additional 10,400 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab's holdings in KKR & Co. Inc. were worth $9,597,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of KKR & Co. Inc. during the 4th quarter valued at about $1,715,929,000. Viking Global Investors LP acquired a new position in KKR & Co. Inc. in the 3rd quarter worth about $352,038,000. Temasek Holdings Private Ltd boosted its position in KKR & Co. Inc. by 164.4% during the first quarter. Temasek Holdings Private Ltd now owns 3,522,797 shares of the asset manager's stock worth $325,859,000 after purchasing an additional 2,190,248 shares in the last quarter. Farallon Capital Management LLC purchased a new position in KKR & Co. Inc. during the fourth quarter worth approximately $257,216,000. Finally, Amundi grew its holdings in KKR & Co. Inc. by 65.3% in the first quarter. Amundi now owns 3,726,040 shares of the asset manager's stock valued at $344,659,000 after purchasing an additional 1,472,265 shares during the period. Institutional investors and hedge funds own 76.26% of the company's stock.

KKR & Co. Inc. Stock Down 0.6%

Shares of KKR opened at $102.68 on Friday. KKR & Co. Inc. has a one year low of $82.67 and a one year high of $152.10. The stock has a market capitalization of $92.19 billion, a price-to-earnings ratio of 32.70, a PEG ratio of 0.88 and a beta of 1.78. The stock has a 50 day moving average price of $97.04 and a 200 day moving average price of $98.37. 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 posted its quarterly earnings results on Thursday, July 30th. The asset manager reported $1.63 EPS for the quarter, beating the consensus estimate of $1.43 by $0.20. KKR & Co. Inc. had a return on equity of 5.89% and a net margin of 14.41%.The firm had revenue of $5.73 billion during the quarter, compared to analysts' expectations of $2.55 billion. During the same quarter last year, the firm earned $1.18 earnings per share. Equities research analysts forecast that KKR & Co. Inc. will post 5.68 earnings per share for the current fiscal year.

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

KKR & Co. Inc. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Monday, August 10th will be given a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Monday, August 10th. KKR & Co. Inc.'s dividend payout ratio (DPR) is currently 24.84%.

Analyst Ratings Changes

A number of research firms have recently commented on KKR. Oppenheimer cut their price objective on KKR & Co. Inc. from $143.00 to $139.00 and set an "outperform" rating for the company in a research report on Friday, July 17th. Weiss Ratings upgraded KKR & Co. Inc. from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, June 16th. TD Cowen lifted their price target on shares of KKR & Co. Inc. from $108.00 to $111.00 and gave the company a "hold" rating in a research note on Monday, August 3rd. Zacks Research raised shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a report on Thursday, May 28th. Finally, BMO Capital Markets upped their price objective on shares of KKR & Co. Inc. from $112.00 to $118.00 and gave the stock an "outperform" rating in a research report on Monday, August 3rd. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $127.75.

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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