Legal & General Group Plc Makes New $470.78 Million Investment in KKR & Co. Inc. $KKR

Legal & General Group Plc bought a new position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,129,423 shares of the asset manager's stock, valued at approximately $470,778,000. Legal & General Group Plc owned approximately 0.57% of KKR & Co. Inc. as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the company. Washington Trust Advisors Inc. purchased a new stake in KKR & Co. Inc. in the fourth quarter valued at approximately $27,000. Elyxium Wealth LLC purchased a new position in shares of KKR & Co. Inc. during the fourth quarter worth approximately $27,000. SouthState Bank Corp increased its holdings in shares of KKR & Co. Inc. by 185.0% in the 4th quarter. SouthState Bank Corp now owns 228 shares of the asset manager's stock valued at $29,000 after acquiring an additional 148 shares during the period. Garton & Associates Financial Advisors LLC purchased a new stake in KKR & Co. Inc. in the 4th quarter valued at $29,000. Finally, MV Capital Management Inc. acquired a new stake in KKR & Co. Inc. during the 4th quarter worth $31,000. 76.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Royal Bank Of Canada raised their price objective on shares of KKR & Co. Inc. from $125.00 to $134.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. TD Cowen raised 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. Keefe, Bruyette & Woods raised KKR & Co. Inc. to a "moderate buy" rating in a research report on Monday, July 20th. UBS Group lifted their target price on KKR & Co. Inc. from $113.00 to $126.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings raised KKR & Co. Inc. from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, June 16th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $127.75.

KKR & Co. Inc. Stock Up 0.3%

KKR stock opened at $107.66 on Wednesday. The stock has a market capitalization of $96.64 billion, a PE ratio of 34.29, a price-to-earnings-growth ratio of 0.91 and a beta of 1.78. The company has a fifty day moving average of $100.45 and a 200-day moving average of $97.56. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.09 and a current 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 issued its quarterly earnings results on Thursday, July 30th. The asset manager reported $1.63 earnings per share (EPS) for the quarter, topping 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 period in the previous year, the business posted $1.18 earnings per share. As a group, analysts expect that KKR & Co. Inc. will post 5.68 EPS for the current year.

KKR & Co. Inc. announced that its board has authorized a share buyback plan on Tuesday, May 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the asset manager to repurchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its shares are undervalued.

KKR & Co. Inc. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Monday, August 10th were given a dividend of $0.195 per share. The ex-dividend date was Monday, August 10th. This represents a $0.78 annualized dividend and a yield of 0.7%. KKR & Co. Inc.'s payout ratio is presently 24.84%.

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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