Lalia Capital LLC Invests $10.20 Million in KKR & Co. Inc. $KKR

Key Points

• Lalia Capital purchased 111,095 KKR shares worth approximately $10.2 million in the second quarter, making KKR about 5% of its portfolio. Institutional investors collectively own 76.26% of the company.
• KKR exceeded quarterly expectations, reporting $1.63 in EPS versus the $1.43 consensus estimate and $5.73 billion in revenue versus $2.55 billion expected.
• Analysts maintain a generally positive view, with a “Moderate Buy” consensus and an average price target of $127.75, while KKR also authorized a $500 million share buyback and announced a $0.195 quarterly dividend.

Lalia Capital LLC bought a new position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 111,095 shares of the asset manager's stock, valued at approximately $10,196,000. KKR & Co. Inc. makes up about 5.0% of Lalia Capital LLC's portfolio, making the stock its 10th biggest position.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of KKR & Co. Inc. in the fourth quarter valued at approximately $1,715,929,000. Bank of New York Mellon Corp bought a new position in KKR & Co. Inc. during the second quarter worth $298,311,000. Viking Global Investors LP acquired a new position in KKR & Co. Inc. in the third quarter valued at $352,038,000. Temasek Holdings Private Ltd lifted its holdings in KKR & Co. Inc. by 164.4% in the first quarter. Temasek Holdings Private Ltd now owns 3,522,797 shares of the asset manager's stock valued at $325,859,000 after buying an additional 2,190,248 shares during the period. Finally, Farallon Capital Management LLC bought a new stake in shares of KKR & Co. Inc. during the 4th quarter valued at about $257,216,000. 76.26% of the stock is currently owned by institutional investors.

KKR & Co. Inc. Price Performance

Shares of NYSE:KKR opened at $108.59 on Friday. The company's fifty day moving average price is $100.09 and its 200-day moving average price is $97.62. KKR & Co. Inc. has a one year low of $82.67 and a one year high of $152.10. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.09 and a quick ratio of 0.09. The firm has a market capitalization of $97.47 billion, a price-to-earnings ratio of 34.58, a PEG ratio of 0.91 and a beta of 1.78.

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

KKR & Co. Inc. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Monday, August 10th will be paid a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 10th. KKR & Co. Inc.'s payout ratio is 24.84%.

KKR & Co. Inc. announced that its board has authorized a share buyback program on Tuesday, May 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the asset manager to purchase up to 0.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

KKR has been the topic of several research analyst reports. Morgan Stanley cut their target price on shares of KKR & Co. Inc. from $153.00 to $147.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 21st. TD Cowen upped their price target on KKR & Co. Inc. from $108.00 to $111.00 and gave the stock a "hold" rating in a report on Monday, August 3rd. Argus upped their price objective on shares of KKR & Co. Inc. from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, August 4th. Barclays raised their target price on KKR & Co. Inc. from $124.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Finally, Zacks Research upgraded shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 28th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $127.75.

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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