Next Capital Management LLC Purchases New Holdings in KKR & Co. Inc. $KKR

Key Points

• Next Capital Management acquired 51,339 KKR shares worth approximately $4.7 million, making KKR its 21st-largest holding and representing 1.3% of its portfolio. Institutional investors collectively own 76.26% of KKR.
• Analysts remain broadly positive, with 12 Buy ratings and three Holds; the consensus rating is Moderate Buy with an average price target of $127.75.
• KKR beat quarterly earnings expectations with $1.63 EPS versus $1.43 expected and $5.73 billion in revenue. The company also announced a $0.195 quarterly dividend and authorized a $500 million share-repurchase program.

Next Capital Management LLC acquired a new position in KKR & Co. Inc. (NYSE:KKR - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 51,339 shares of the asset manager's stock, valued at approximately $4,712,000. KKR & Co. Inc. accounts for approximately 1.3% of Next Capital Management LLC's investment portfolio, making the stock its 21st biggest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of KKR & Co. Inc. by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 60,064,587 shares of the asset manager's stock worth $7,657,034,000 after purchasing an additional 821,739 shares in the last quarter. Principal Financial Group Inc. raised its stake in KKR & Co. Inc. by 6.9% during the first quarter. Principal Financial Group Inc. now owns 19,507,741 shares of the asset manager's stock valued at $1,804,470,000 after buying an additional 1,261,314 shares during the last quarter. Geode Capital Management LLC raised its stake in KKR & Co. Inc. by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 14,995,742 shares of the asset manager's stock valued at $1,903,220,000 after buying an additional 146,285 shares during the last quarter. Norges Bank bought a new stake in KKR & Co. Inc. in the fourth quarter worth $1,715,929,000. Finally, First Manhattan CO. LLC. boosted its holdings in KKR & Co. Inc. by 0.8% in the fourth quarter. First Manhattan CO. LLC. now owns 8,597,044 shares of the asset manager's stock worth $1,095,951,000 after acquiring an additional 67,441 shares in the last quarter. Institutional investors own 76.26% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on KKR. Royal Bank Of Canada increased their target price on KKR & Co. Inc. from $125.00 to $134.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. UBS Group upped their price target on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Morgan Stanley cut their price objective on shares of KKR & Co. Inc. from $153.00 to $147.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 21st. Barclays raised their price objective on shares of KKR & Co. Inc. from $124.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. Finally, HSBC upped their target price 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 investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $127.75.

KKR & Co. Inc. Price Performance

Shares of NYSE:KKR opened at $113.93 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.09 and a current ratio of 0.09. The firm has a market cap of $102.27 billion, a price-to-earnings ratio of 36.28, a price-to-earnings-growth ratio of 0.99 and a beta of 1.78. The business has a 50-day simple moving average of $98.75 and a two-hundred day simple moving average of $97.89. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $152.10.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced 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. KKR & Co. Inc. had a net margin of 14.41% and a return on equity of 5.88%. The firm had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter last year, the firm posted $1.18 EPS. On average, analysts expect that KKR & Co. Inc. will post 5.68 earnings per share for the current year.

KKR & Co. Inc. Announces Dividend

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

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

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