Northwestern Mutual Wealth Management Co. Purchases 105,070 Shares of KKR & Co. Inc. $KKR

Key Points

• Northwestern Mutual Wealth Management boosted its KKR stake by 152.4% in the fourth quarter, buying 105,070 additional shares and bringing its total holding to 174,004 shares worth about $22.2 million.
• Several other institutional investors also increased or initiated positions in KKR, and institutions now own 76.26% of the company’s stock.
• KKR recently raised its quarterly dividend to $0.195 per share and authorized a $500 million share buyback, while analysts currently rate the stock a Moderate Buy with an average target price of $134.53.

Northwestern Mutual Wealth Management Co. increased its position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 152.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 174,004 shares of the asset manager's stock after purchasing an additional 105,070 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in KKR & Co. Inc. were worth $22,182,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bessemer Group Inc. lifted its position in KKR & Co. Inc. by 19.7% during the fourth quarter. Bessemer Group Inc. now owns 1,285,168 shares of the asset manager's stock worth $163,833,000 after purchasing an additional 211,222 shares during the period. Cornerstone Wealth Management LLC lifted its holdings in shares of KKR & Co. Inc. by 47.1% in the fourth quarter. Cornerstone Wealth Management LLC now owns 6,796 shares of the asset manager's stock worth $866,000 after acquiring an additional 2,175 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of KKR & Co. Inc. in the fourth quarter worth about $68,000. Allworth Financial LP lifted its holdings in shares of KKR & Co. Inc. by 24.1% in the fourth quarter. Allworth Financial LP now owns 8,476 shares of the asset manager's stock worth $1,080,000 after acquiring an additional 1,645 shares during the last quarter. Finally, Atria Investments Inc lifted its holdings in shares of KKR & Co. Inc. by 15.5% in the fourth quarter. Atria Investments Inc now owns 30,757 shares of the asset manager's stock worth $3,921,000 after acquiring an additional 4,123 shares during the last quarter. Institutional investors own 76.26% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Barclays dropped their target price on shares of KKR & Co. Inc. from $127.00 to $122.00 and set an "overweight" rating for the company in a report on Wednesday, May 6th. Wall Street Zen raised shares of KKR & Co. Inc. from a "sell" rating to a "hold" rating in a report on Sunday, January 25th. HSBC raised shares of KKR & Co. Inc. from a "hold" rating to a "buy" rating and set a $144.00 target price for the company in a report on Wednesday, January 28th. Zacks Research cut shares of KKR & Co. Inc. from a "hold" rating to a "strong sell" rating in a report on Monday, April 13th. Finally, UBS Group increased their target price on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $134.53.

Insiders Place Their Bets

In related news, Director Timothy R. Barakett acquired 50,000 shares of the company's stock in a transaction on Wednesday, March 4th. The shares were acquired at an average cost of $94.47 per share, for a total transaction of $4,723,500.00. Following the purchase, the director owned 285,000 shares in the company, valued at approximately $26,923,950. The trade was a 21.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 23.20% of the company's stock.

KKR & Co. Inc. Stock Performance

NYSE:KKR opened at $92.95 on Wednesday. The company has a market capitalization of $83.46 billion, a PE ratio of 31.62, a P/E/G ratio of 0.85 and a beta of 1.85. The company has a 50 day simple moving average of $95.39 and a two-hundred day simple moving average of $110.42. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.08 and a current ratio of 0.08. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $153.87.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. The business had revenue of $5.74 billion during the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. Research analysts anticipate that KKR & Co. Inc. will post 5.46 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be paid a dividend of $0.195 per share. This is a boost from KKR & Co. Inc.'s previous quarterly dividend of $0.19. The ex-dividend date is Friday, May 15th. This represents a $0.78 annualized dividend and a yield of 0.8%. KKR & Co. Inc.'s dividend payout ratio (DPR) is 26.53%.

KKR & Co. Inc. announced that its board has approved a share buyback program on Tuesday, May 5th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the asset manager to purchase up to 0.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors 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.

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