Korea Investment CORP Invests $20.64 Million in KKR & Co. Inc. $KKR

Key Points

• Korea Investment Corp. purchased 224,938 KKR shares in the second quarter, valued at approximately $20.65 million. Institutional investors and hedge funds collectively own 76.26% of KKR’s outstanding stock.
• Analysts maintain a broadly positive outlook, with 12 Buy ratings and three Hold ratings, resulting in a consensus “Moderate Buy” rating and an average price target of $127.75.
• KKR beat quarterly earnings expectations with EPS of $1.63 versus the $1.43 consensus estimate. The company also announced a $0.195 quarterly dividend and authorized a $500 million share-repurchase program.

Korea Investment CORP bought a new stake in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 224,938 shares of the asset manager's stock, valued at approximately $20,645,000.

A number of other hedge funds have also recently bought and sold shares of KKR. Norges Bank bought a new position in shares of KKR & Co. Inc. during the 4th quarter valued at about $1,715,929,000. Bank of New York Mellon Corp acquired a new position in shares of KKR & Co. Inc. in the 2nd quarter worth approximately $298,311,000. Viking Global Investors LP bought a new stake in shares of KKR & Co. Inc. in the 3rd quarter worth approximately $352,038,000. Temasek Holdings Private Ltd raised its holdings in shares of KKR & Co. Inc. by 164.4% in the 1st 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. Finally, Farallon Capital Management LLC acquired a new stake in KKR & Co. Inc. during the fourth quarter valued at approximately $257,216,000. 76.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on KKR shares. UBS Group raised their target price 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 upped their price target on KKR & Co. Inc. from $112.00 to $118.00 and gave the company an "outperform" rating in a report on Monday, August 3rd. 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. Keefe, Bruyette & Woods raised KKR & Co. Inc. to a "moderate buy" rating in a research note on Monday, July 20th. Finally, Weiss Ratings upgraded KKR & Co. Inc. from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, June 16th. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $127.75.

KKR & Co. Inc. Stock Performance

Shares of KKR opened at $108.59 on Monday. The company has a 50-day moving average of $100.09 and a two-hundred day moving average of $97.51. The stock has a market cap of $97.47 billion, a price-to-earnings ratio of 34.58, a PEG ratio of 0.92 and a beta of 1.78. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.09 and a quick ratio of 0.09. KKR & Co. Inc. has a one year low of $82.67 and a one year high of $152.10.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The asset manager reported $1.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.20. The business had revenue of $5.73 billion for the quarter, compared to analyst estimates of $2.55 billion. KKR & Co. Inc. had a net margin of 14.41% and a return on equity of 5.88%. During the same quarter in the previous year, the business earned $1.18 earnings per share. On average, equities research analysts expect that KKR & Co. Inc. will post 5.68 earnings per share for the current year.

KKR & Co. Inc. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders 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 yield of 0.7%. The ex-dividend date is Monday, August 10th. KKR & Co. Inc.'s payout ratio is presently 24.84%.

KKR & Co. Inc. announced that its board has initiated a share 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 buy up to 0.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

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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