KKR & Co. Inc. $KKR Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon trimmed its KKR stake by 4.6% in the fourth quarter, though it still held 3.44 million shares valued at about $437.9 million.
• Other institutional investors remained active in KKR, with Norges Bank, Strive Asset Management, Viking Global, and Vanguard all adding or maintaining large positions. Overall, 76.26% of KKR shares are owned by institutions and hedge funds.
• KKR has mixed analyst sentiment but a generally positive outlook, with an average “Moderate Buy” rating and a consensus price target of $134.53. The company also announced a $500 million share buyback and recently raised its quarterly dividend to $0.195 per share.

Bank of New York Mellon Corp reduced its position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,435,318 shares of the asset manager's stock after selling 165,739 shares during the period. Bank of New York Mellon Corp owned 0.39% of KKR & Co. Inc. worth $437,934,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of KKR. Norges Bank acquired a new stake in shares of KKR & Co. Inc. during the 4th quarter worth about $1,715,929,000. Strive Asset Management LLC purchased a new position in shares of KKR & Co. Inc. during the 3rd quarter worth about $535,907,000. Viking Global Investors LP purchased a new position in shares of KKR & Co. Inc. during the 3rd quarter worth about $352,038,000. Close Asset Management Ltd lifted its holdings in shares of KKR & Co. Inc. by 4,155.1% during the 3rd quarter. Close Asset Management Ltd now owns 1,515,299 shares of the asset manager's stock worth $196,845,000 after acquiring an additional 1,479,688 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of KKR & Co. Inc. by 1.4% during 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 period. 76.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KKR has been the topic of several recent analyst reports. Barclays cut their price objective on shares of KKR & Co. Inc. from $127.00 to $122.00 and set an "overweight" rating on the stock in a report on Wednesday, May 6th. Weiss Ratings lowered shares of KKR & Co. Inc. from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, May 21st. UBS Group increased their price objective on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. BMO Capital Markets cut their price target on shares of KKR & Co. Inc. from $125.00 to $106.00 and set an "outperform" rating on the stock in a report on Tuesday, March 24th. Finally, Piper Sandler cut their price target on shares of KKR & Co. Inc. from $135.00 to $117.00 and set an "overweight" rating on the stock in a report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $134.53.

KKR & Co. Inc. Stock Down 4.0%

KKR stock opened at $90.71 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.08 and a quick ratio of 0.08. KKR & Co. Inc. has a 1-year low of $82.67 and a 1-year high of $153.87. The firm has a fifty day moving average price of $96.63 and a two-hundred day moving average price of $108.45. The firm has a market cap of $81.45 billion, a price-to-earnings ratio of 30.85, a PEG ratio of 0.82 and a beta of 1.79.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its 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. Research analysts predict that KKR & Co. Inc. will post 5.51 EPS for the current year.

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

KKR & Co. Inc. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were issued a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a dividend yield of 0.9%. 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. KKR & Co. Inc.'s dividend payout ratio is presently 26.53%.

About KKR & Co. Inc.

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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