KKR & Co. Inc. $KKR Shares Sold by TIAA Trust National Association

Key Points

• TIAA Trust National Association cut its stake in KKR & Co. Inc. by 77% in the fourth quarter, selling 166,320 shares and leaving it with 49,645 shares worth about $6.33 million.
• KKR shares were up 2.6% to $95.67, while the stock remains below its 200-day moving average and far under its 52-week high of $153.87.
• The company recently raised its quarterly dividend to $0.195 per share and authorized a $500 million share repurchase program, while analysts maintain a consensus Moderate Buy rating with an average price target of $134.53.

TIAA Trust National Association lowered its position in KKR & Co. Inc. (NYSE:KKR - Free Report) by 77.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,645 shares of the asset manager's stock after selling 166,320 shares during the period. TIAA Trust National Association's holdings in KKR & Co. Inc. were worth $6,329,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of KKR. Norges Bank acquired a new stake in shares of KKR & Co. Inc. in the 4th quarter worth approximately $1,715,929,000. Strive Asset Management LLC acquired a new stake in shares of KKR & Co. Inc. in the 3rd quarter worth approximately $535,907,000. Viking Global Investors LP acquired a new stake in shares of KKR & Co. Inc. in the 3rd quarter worth approximately $352,038,000. Close Asset Management Ltd grew its holdings in shares of KKR & Co. Inc. by 4,155.1% in 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. grew its holdings in shares of KKR & Co. Inc. by 1.4% in 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. Institutional investors and hedge funds own 76.26% of the company's stock.

KKR & Co. Inc. Trading Up 2.6%

Shares of KKR opened at $95.67 on Wednesday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $85.89 billion, a P/E ratio of 32.54, a price-to-earnings-growth ratio of 0.81 and a beta of 1.79. The stock's fifty day simple moving average is $97.02 and its 200 day simple moving average is $107.83. KKR & Co. Inc. has a twelve month low of $82.67 and a twelve month high of $153.87.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last issued its earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. The business had revenue of $5.74 billion for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%. On average, equities research analysts forecast that KKR & Co. Inc. will post 5.51 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a $0.195 dividend. This is an increase 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 annualized dividend and a dividend yield of 0.8%. KKR & Co. Inc.'s dividend payout ratio is 26.53%.

KKR & Co. Inc. declared that its Board of Directors has authorized a stock repurchase program on Tuesday, May 5th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the asset manager to purchase up to 0.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have commented on KKR shares. UBS Group increased their target price on KKR & Co. Inc. from $113.00 to $126.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Morgan Stanley lowered their target price on KKR & Co. Inc. from $177.00 to $153.00 and set an "overweight" rating on the stock in a report on Tuesday, April 21st. Zacks Research upgraded KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a report on Thursday, May 28th. Piper Sandler lowered their target price on KKR & Co. Inc. from $135.00 to $117.00 and set an "overweight" rating on the stock in a report on Tuesday, April 7th. Finally, Barclays lowered their target price on KKR & Co. Inc. from $127.00 to $122.00 and set an "overweight" rating on the stock in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target 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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