NewEdge Wealth LLC Takes $1.15 Million Position in KKR & Co. Inc. $KKR

Key Points

• NewEdge Wealth bought 12,537 KKR shares worth approximately $1.15 million during the second quarter. Institutional investors collectively own 76.26% of the company.
• Analyst sentiment remains positive: 12 analysts rate KKR a Buy and three rate it a Hold, resulting in a “Moderate Buy” consensus and an average price target of $127.75.
• KKR exceeded quarterly earnings expectations, reporting $1.63 EPS versus the $1.43 consensus estimate. The company also declared a $0.195 quarterly dividend and authorized a $500 million share-repurchase program.

NewEdge Wealth LLC purchased a new position in KKR & Co. Inc. (NYSE:KKR - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,537 shares of the asset manager's stock, valued at approximately $1,151,000.

Several other institutional investors also recently added to or reduced their stakes in KKR. Washington Trust Advisors Inc. purchased a new stake in KKR & Co. Inc. in the 4th quarter valued at about $27,000. Elyxium Wealth LLC bought a new stake in shares of KKR & Co. Inc. during the fourth quarter valued at approximately $27,000. SouthState Bank Corp raised its stake in shares of KKR & Co. Inc. by 185.0% during the fourth quarter. SouthState Bank Corp now owns 228 shares of the asset manager's stock valued at $29,000 after acquiring an additional 148 shares in the last quarter. Garton & Associates Financial Advisors LLC purchased a new stake in shares of KKR & Co. Inc. in the fourth quarter valued at approximately $29,000. Finally, MV Capital Management Inc. purchased a new stake in shares of KKR & Co. Inc. in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 76.26% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. 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 report on Wednesday, May 6th. BMO Capital Markets increased their price target on KKR & Co. Inc. from $112.00 to $118.00 and gave the stock an "outperform" rating in a research report on Monday, August 3rd. Oppenheimer cut their price target on KKR & Co. Inc. from $143.00 to $139.00 and set an "outperform" rating on the stock in a research note on Friday, July 17th. Keefe, Bruyette & Woods upgraded KKR & Co. Inc. to a "moderate buy" rating in a report on Monday, July 20th. Finally, HSBC upped their price objective on shares of KKR & Co. Inc. from $118.00 to $121.00 and gave the stock a "buy" rating in a research note on Monday, July 20th. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $127.75.

KKR & Co. Inc. Stock Performance

Shares of NYSE:KKR opened at $108.59 on Friday. The firm has a 50 day moving average of $100.09 and a 200 day moving average of $97.62. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $97.47 billion, a price-to-earnings ratio of 34.58, a price-to-earnings-growth ratio of 0.91 and a beta of 1.78. KKR & Co. Inc. has a 52 week low of $82.67 and a 52 week high of $152.10.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its earnings results on Thursday, July 30th. The asset manager reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.20. The business had revenue of $5.73 billion for the quarter, compared to analysts' expectations of $2.55 billion. KKR & Co. Inc. had a return on equity of 5.88% and a net margin of 14.41%.During the same quarter last year, the firm earned $1.18 EPS. On average, sell-side analysts predict 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 disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Monday, August 10th will be given a dividend of $0.195 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.78 dividend on an annualized basis and a yield of 0.7%. KKR & Co. Inc.'s dividend payout ratio (DPR) is presently 24.84%.

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

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.

Want to see what other hedge funds are holding KKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KKR & Co. Inc. (NYSE:KKR - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source