Midwest Trust Co Grows Stake in KKR & Co. Inc. $KKR

Key Points

• Midwest Trust Co increased its KKR stake by 10.8% in the first quarter, buying 13,816 more shares and bringing its total holdings to 141,805 shares worth about $13.1 million.
• Institutional interest in KKR remains high, with hedge funds and other investors now owning 76.26% of the company’s stock.
• KKR has also seen mixed analyst action, but the consensus remains Moderate Buy with an average price target of $131.85; the company also recently raised its quarterly dividend and authorized a $500 million share repurchase plan.

Midwest Trust Co boosted its position in KKR & Co. Inc. (NYSE:KKR - Free Report) by 10.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 141,805 shares of the asset manager's stock after purchasing an additional 13,816 shares during the period. Midwest Trust Co's holdings in KKR & Co. Inc. were worth $13,117,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in KKR. Brighton Jones LLC increased its holdings in KKR & Co. Inc. by 109.6% during the fourth quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager's stock valued at $689,000 after buying an additional 2,437 shares during the last quarter. Bison Wealth LLC purchased a new position in shares of KKR & Co. Inc. during the 4th quarter worth $218,000. Sivia Capital Partners LLC grew its position in shares of KKR & Co. Inc. by 13.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,050 shares of the asset manager's stock valued at $273,000 after acquiring an additional 237 shares during the period. United Bank bought a new stake in shares of KKR & Co. Inc. during the 2nd quarter valued at $769,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of KKR & Co. Inc. in the 2nd quarter worth $4,826,000. Hedge funds and other institutional investors own 76.26% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on KKR shares. Piper Sandler decreased 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. Weiss Ratings upgraded KKR & Co. Inc. from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, June 16th. UBS Group raised their price objective on KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. BMO Capital Markets lowered their price objective on KKR & Co. Inc. from $125.00 to $106.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 24th. Finally, Zacks Research upgraded KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, KKR & Co. Inc. currently has an average rating of "Moderate Buy" and an average target price of $131.85.

KKR & Co. Inc. Stock Performance

NYSE:KKR opened at $96.95 on Monday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.70. KKR & Co. Inc. has a 12-month low of $82.67 and a 12-month high of $153.87. The stock has a 50-day moving average price of $95.69 and a 200 day moving average price of $102.42. The stock has a market capitalization of $87.05 billion, a P/E ratio of 32.98, a P/E/G ratio of 0.82 and a beta of 1.79.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last posted its quarterly earnings results on Friday, February 27th. The asset manager reported $1.24 EPS for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%.The company had revenue of $5.74 billion for the quarter. Equities research analysts forecast that KKR & Co. Inc. will post 5.55 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were issued a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 0.8%. This is a boost from KKR & Co. Inc.'s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, May 15th. KKR & Co. Inc.'s payout ratio is presently 26.53%.

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.