Orrstown Financial Services Inc. Makes New Investment in KKR & Co. Inc. $KKR

Key Points

• Orrstown Financial Services Inc. acquired 2,016 shares of KKR & Co. Inc., valued at approximately $268,000, during the 2nd quarter, showcasing growing institutional interest in the asset manager.
• Recent analyst reports have upgraded KKR's stock price targets, with firms like Wells Fargo increasing its target to $156, indicating a bullish outlook on the company's performance.
• KKR & Co. Inc. recently raised its quarterly dividend to $0.185, reflecting an annual yield of 0.5%, demonstrating financial strength amid its ongoing earnings growth.

Orrstown Financial Services Inc. purchased a new position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,016 shares of the asset manager's stock, valued at approximately $268,000.

A number of other institutional investors also recently modified their holdings of the company. Bouvel Investment Partners LLC bought a new position in shares of KKR & Co. Inc. in the second quarter valued at approximately $6,603,000. Farther Finance Advisors LLC raised its stake in shares of KKR & Co. Inc. by 48.0% in the second quarter. Farther Finance Advisors LLC now owns 21,791 shares of the asset manager's stock valued at $2,899,000 after acquiring an additional 7,070 shares during the last quarter. CX Institutional raised its stake in shares of KKR & Co. Inc. by 68.9% in the second quarter. CX Institutional now owns 2,317 shares of the asset manager's stock valued at $308,000 after acquiring an additional 945 shares during the last quarter. AA Financial Advisors LLC raised its stake in shares of KKR & Co. Inc. by 25.1% in the second quarter. AA Financial Advisors LLC now owns 3,359 shares of the asset manager's stock valued at $447,000 after acquiring an additional 674 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of KKR & Co. Inc. by 260.5% in the second quarter. Assenagon Asset Management S.A. now owns 1,039,163 shares of the asset manager's stock valued at $138,240,000 after acquiring an additional 750,906 shares during the last quarter. Institutional investors own 76.26% of the company's stock.

KKR & Co. Inc. Stock Up 0.5%

KKR traded up $0.74 during trading on Tuesday, hitting $147.69. The company had a trading volume of 1,917,659 shares, compared to its average volume of 4,646,894. The company has a market capitalization of $131.59 billion, a PE ratio of 68.71, a PEG ratio of 1.64 and a beta of 1.93. KKR & Co. Inc. has a one year low of $86.15 and a one year high of $170.40. The firm's 50-day moving average price is $143.27 and its 200 day moving average price is $127.26. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.77.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The asset manager reported $1.18 EPS for the quarter, beating the consensus estimate of $1.14 by $0.04. The business had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.81 billion. KKR & Co. Inc. had a net margin of 12.95% and a return on equity of 6.30%. During the same period in the previous year, the firm posted $1.09 EPS. As a group, equities analysts expect that KKR & Co. Inc. will post 5.19 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th were given a dividend of $0.185 per share. This is a boost from KKR & Co. Inc.'s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.74 annualized dividend and a yield of 0.5%. KKR & Co. Inc.'s payout ratio is presently 34.42%.

Insider Buying and Selling

In other KKR & Co. Inc. news, Chairman George R. Roberts sold 809,906 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $144.25, for a total transaction of $116,828,940.50. Following the sale, the chairman directly owned 81,361,978 shares of the company's stock, valued at $11,736,465,326.50. The trade was a 0.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 39.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on KKR. Citizens Jmp cut shares of KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a research note on Monday, July 14th. Keefe, Bruyette & Woods raised their price target on shares of KKR & Co. Inc. from $155.00 to $162.00 and gave the company an "outperform" rating in a report on Monday, August 4th. HSBC lowered shares of KKR & Co. Inc. from a "buy" rating to a "hold" rating and set a $142.00 price target for the company. in a report on Wednesday, July 9th. Wall Street Zen raised shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Piper Sandler started coverage on shares of KKR & Co. Inc. in a report on Monday, June 30th. They issued an "overweight" rating and a $150.00 price target for the company. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $158.07.

KKR & Co. Inc. Profile

KKR & Co, Inc operates as an investment firm. It offers alternative asset management as well as capital markets and insurance solutions. The firm's business segments include Asset Management and Insurance Business. The Asset Management segment engages in providing private equity, real assets, credit and liquid strategies, capital markets, and principal activities.