Pacer Advisors Inc. Sells 16,602 Shares of KKR & Co. Inc. $KKR

Key Points

• Pacer Advisors Inc. cut its stake in KKR & Co. Inc. by 23.5% in the fourth quarter, selling 16,602 shares and leaving it with 54,028 shares worth about $6.89 million.
• Institutional ownership in KKR remains high at 76.26%, and several other investors recently added positions, including Norges Bank, Strive Asset Management, Viking Global, and Farallon Capital Management.
• Analysts remain broadly positive despite some lower price targets: KKR has a Moderate Buy consensus rating with an average price target of $134.53. The company also approved a $500 million share buyback and raised its quarterly dividend to $0.195 per share.

Pacer Advisors Inc. decreased its position in KKR & Co. Inc. (NYSE:KKR - Free Report) by 23.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,028 shares of the asset manager's stock after selling 16,602 shares during the period. Pacer Advisors Inc.'s holdings in KKR & Co. Inc. were worth $6,887,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new stake in KKR & Co. Inc. during the 4th quarter worth about $1,715,929,000. Strive Asset Management LLC bought a new stake in shares of KKR & Co. Inc. during the 3rd quarter valued at about $535,907,000. Viking Global Investors LP acquired a new stake in KKR & Co. Inc. during the third quarter worth approximately $352,038,000. Farallon Capital Management LLC acquired a new stake in KKR & Co. Inc. during the fourth quarter worth approximately $257,216,000. Finally, Close Asset Management Ltd grew its stake in KKR & Co. Inc. by 4,155.1% during the third quarter. Close Asset Management Ltd now owns 1,515,299 shares of the asset manager's stock worth $196,845,000 after purchasing an additional 1,479,688 shares during the period. Institutional investors own 76.26% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KKR. Piper Sandler dropped their price target on KKR & Co. Inc. from $135.00 to $117.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 7th. Zacks Research raised shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 28th. Royal Bank Of Canada lowered their price objective on shares of KKR & Co. Inc. from $132.00 to $128.00 and set an "outperform" rating for the company in a research note on Wednesday, May 6th. Morgan Stanley dropped their target price on shares of KKR & Co. Inc. from $177.00 to $153.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 21st. Finally, Barclays cut their target price on shares of KKR & Co. Inc. from $127.00 to $122.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $134.53.

KKR & Co. Inc. Trading Up 0.0%

Shares of KKR & Co. Inc. stock opened at $97.01 on Monday. The stock has a fifty day simple moving average of $97.86 and a 200 day simple moving average of $106.55. KKR & Co. Inc. has a 12-month low of $82.67 and a 12-month high of $153.87. The company has a market capitalization of $87.10 billion, a P/E ratio of 33.00, a price-to-earnings-growth ratio of 0.84 and a beta of 1.80. 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. (NYSE:KKR - Get Free Report) last released 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 business had revenue of $5.74 billion during the quarter. On average, sell-side analysts anticipate that KKR & Co. Inc. will post 5.53 earnings per share for the current fiscal year.

KKR & Co. Inc. declared that its board has authorized a share repurchase plan on Tuesday, May 5th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the asset manager to purchase up to 0.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

KKR & Co. Inc. Increases Dividend

The company 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 is an increase from KKR & Co. Inc.'s previous quarterly dividend of $0.18. This represents a $0.78 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, May 15th. KKR & Co. Inc.'s dividend payout ratio is currently 26.53%.

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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