KKR & Co. Inc. $KKR Shares Purchased by Bowen Hanes & Co. Inc.

Key Points

• Bowen Hanes & Co. Inc. more than doubled its KKR stake in the fourth quarter, increasing holdings by 115.2% to 119,195 shares worth about $15.2 million.
• KKR shares fell 4.0% to $90.71, leaving the stock well below its 200-day moving average and near its 52-week low of $82.67.
• The company recently raised its quarterly dividend to $0.195 per share and authorized a $500 million share repurchase plan, while analysts still maintain a consensus “Moderate Buy” rating with an average price target of $134.53.

Bowen Hanes & Co. Inc. increased its stake in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 115.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,195 shares of the asset manager's stock after purchasing an additional 63,815 shares during the period. Bowen Hanes & Co. Inc.'s holdings in KKR & Co. Inc. were worth $15,195,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. SteelPeak Wealth LLC raised its position in shares of KKR & Co. Inc. by 3.2% during the 4th quarter. SteelPeak Wealth LLC now owns 2,549 shares of the asset manager's stock worth $325,000 after purchasing an additional 80 shares during the last quarter. Diversified Trust Co. raised its position in shares of KKR & Co. Inc. by 1.5% during the 4th quarter. Diversified Trust Co. now owns 5,562 shares of the asset manager's stock worth $709,000 after purchasing an additional 82 shares during the last quarter. Modera Wealth Management LLC raised its position in shares of KKR & Co. Inc. by 4.9% during the 4th quarter. Modera Wealth Management LLC now owns 1,789 shares of the asset manager's stock worth $228,000 after purchasing an additional 84 shares during the last quarter. Sound Income Strategies LLC raised its position in shares of KKR & Co. Inc. by 9.1% during the 4th quarter. Sound Income Strategies LLC now owns 1,084 shares of the asset manager's stock worth $143,000 after purchasing an additional 90 shares during the last quarter. Finally, Cornerstone Advisory LLC raised its position in shares of KKR & Co. Inc. by 3.0% during the 3rd quarter. Cornerstone Advisory LLC now owns 3,189 shares of the asset manager's stock worth $414,000 after purchasing an additional 92 shares during the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

KKR & Co. Inc. Stock Down 4.0%

Shares of KKR & Co. Inc. stock opened at $90.71 on Thursday. The company has a fifty day moving average price of $96.63 and a 200 day moving average price of $108.45. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.70. KKR & Co. Inc. has a twelve month low of $82.67 and a twelve month high of $153.87. The stock has a market cap of $81.45 billion, a price-to-earnings ratio of 30.85, a price-to-earnings-growth ratio of 0.82 and a beta of 1.79.

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. 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 during the quarter. Equities research analysts forecast that KKR & Co. Inc. will post 5.51 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a dividend of $0.195 per share. This is a positive change from KKR & Co. Inc.'s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.78 dividend on an annualized basis and a yield of 0.9%. KKR & Co. Inc.'s dividend payout ratio is currently 26.53%.

KKR & Co. Inc. declared that its board has authorized a share repurchase plan on Tuesday, May 5th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the asset manager to purchase up to 0.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on KKR shares. Piper Sandler cut their price objective on KKR & Co. Inc. from $135.00 to $117.00 and set an "overweight" rating for the company in a research report on Tuesday, April 7th. Barclays cut their price target on KKR & Co. Inc. from $127.00 to $122.00 and set an "overweight" rating for the company in a report on Wednesday, May 6th. The Goldman Sachs Group cut their price target on KKR & Co. Inc. from $145.00 to $110.00 and set a "buy" rating for the company in a report on Tuesday, April 7th. Morgan Stanley cut their price target on KKR & Co. Inc. from $177.00 to $153.00 and set an "overweight" rating for the company in a report on Tuesday, April 21st. Finally, Royal Bank Of Canada cut their price target on KKR & Co. Inc. from $132.00 to $128.00 and set an "outperform" rating for the company in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, 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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