KKR & Co. Inc. $KKR Shares Purchased by Meitav Investment House Ltd.

Key Points

• Meitav Investment House Ltd. increased its KKR stake by 58.4% in the first quarter, buying 346,035 more shares and bringing its total to 938,212 shares worth about $86.8 million.
• KKR shares recently traded lower at $95.26, leaving the stock below its 200-day moving average and near the low end of its 52-week range, despite a market cap of about $85.5 billion.
• The company approved a $500 million share buyback and recently raised its quarterly dividend to $0.195 per share, while analysts maintain a Moderate Buy consensus with an average price target of $134.53.

Meitav Investment House Ltd. raised its position in KKR & Co. Inc. (NYSE:KKR - Free Report) by 58.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 938,212 shares of the asset manager's stock after buying an additional 346,035 shares during the period. KKR & Co. Inc. makes up about 1.0% of Meitav Investment House Ltd.'s holdings, making the stock its 26th biggest holding. Meitav Investment House Ltd. owned approximately 0.11% of KKR & Co. Inc. worth $86,785,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Integrated Advisors Network LLC lifted its stake in shares of KKR & Co. Inc. by 62.5% in the first quarter. Integrated Advisors Network LLC now owns 47,064 shares of the asset manager's stock worth $4,353,000 after acquiring an additional 18,101 shares in the last quarter. Canvas Wealth Advisors LLC grew its stake in KKR & Co. Inc. by 133.4% during the 1st quarter. Canvas Wealth Advisors LLC now owns 4,342 shares of the asset manager's stock valued at $402,000 after purchasing an additional 2,482 shares in the last quarter. Grange Capital LLC increased its holdings in KKR & Co. Inc. by 93.7% during the 1st quarter. Grange Capital LLC now owns 28,946 shares of the asset manager's stock worth $2,678,000 after purchasing an additional 14,003 shares during the last quarter. Abel Hall LLC increased its holdings in KKR & Co. Inc. by 95.7% during the 1st quarter. Abel Hall LLC now owns 3,471 shares of the asset manager's stock worth $321,000 after purchasing an additional 1,697 shares during the last quarter. Finally, Lee Danner & Bass Inc. raised its position in shares of KKR & Co. Inc. by 1.0% in the 1st quarter. Lee Danner & Bass Inc. now owns 17,546 shares of the asset manager's stock valued at $1,623,000 after purchasing an additional 175 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

KKR & Co. Inc. Stock Performance

NYSE:KKR traded down $0.71 during trading hours on Tuesday, reaching $95.26. 750,032 shares of the stock were exchanged, compared to its average volume of 6,211,318. The stock has a market capitalization of $85.53 billion, a P/E ratio of 32.40, a P/E/G ratio of 0.81 and a beta of 1.79. The firm has a 50 day simple moving average of $96.12 and a 200-day simple moving average of $103.44. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.70. KKR & Co. Inc. has a 52 week low of $82.67 and a 52 week high of $153.87.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last issued 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 return on equity of 5.42% and a net margin of 13.94%.The business had revenue of $5.74 billion during the quarter. As a group, sell-side analysts forecast that KKR & Co. Inc. will post 5.51 earnings per share for the current fiscal year.

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

KKR & Co. Inc. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were paid a dividend of $0.195 per share. The ex-dividend date was Friday, May 15th. This is a positive change from KKR & Co. Inc.'s previous quarterly dividend of $0.18. This represents a $0.78 annualized dividend and a yield of 0.8%. KKR & Co. Inc.'s payout ratio is presently 26.53%.

Wall Street Analysts Forecast Growth

KKR has been the subject of several research analyst reports. TD Cowen reduced their target price 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. UBS Group lifted their price target on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Royal Bank Of Canada cut their price target on shares of KKR & Co. Inc. from $132.00 to $128.00 and set an "outperform" rating on the stock in a report on Wednesday, May 6th. Oppenheimer reduced their price objective on shares of KKR & Co. Inc. from $187.00 to $140.00 and set an "outperform" rating on the stock in a research note on Monday, April 13th. Finally, Zacks Research raised shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus 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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