Palisade Capital Management LP Takes Position in KKR & Co. Inc. $KKR

Key Points

• Palisade Capital Management acquired 98,738 KKR shares in the second quarter, valued at approximately $9.1 million. Institutional investors collectively own 76.26% of KKR’s outstanding stock.
• KKR reported quarterly earnings of $1.63 per share, exceeding the $1.43 consensus estimate, while revenue reached $5.73 billion versus expectations of $2.55 billion.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $127.75. KKR also pays a $0.195 quarterly dividend and has authorized a $500 million share-repurchase program.

Palisade Capital Management LP acquired a new position in KKR & Co. Inc. (NYSE:KKR - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 98,738 shares of the asset manager's stock, valued at approximately $9,062,000.

A number of other institutional investors also recently bought and sold shares of the stock. Brighton Jones LLC raised its stake in shares of KKR & Co. Inc. by 109.6% in the fourth quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager's stock worth $689,000 after buying an additional 2,437 shares during the period. Bison Wealth LLC bought a new position in shares of KKR & Co. Inc. during the 4th quarter valued at approximately $218,000. Sivia Capital Partners LLC grew its stake in shares of KKR & Co. Inc. by 13.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,050 shares of the asset manager's stock valued at $273,000 after acquiring an additional 237 shares during the period. United Bank purchased a new stake in KKR & Co. Inc. in the 2nd quarter worth approximately $769,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in KKR & Co. Inc. in the 2nd quarter worth approximately $4,826,000. 76.26% of the stock is owned by institutional investors.

KKR & Co. Inc. Stock Up 0.3%

NYSE KKR opened at $107.66 on Wednesday. The stock's 50 day moving average is $100.45 and its 200 day moving average is $97.56. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.71. KKR & Co. Inc. has a 12 month low of $82.67 and a 12 month high of $152.10. The stock has a market cap of $96.64 billion, a PE ratio of 34.29, a P/E/G ratio of 0.91 and a beta of 1.78.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The asset manager reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.20. KKR & Co. Inc. had a return on equity of 5.88% and a net margin of 14.41%.The business had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the prior year, the company posted $1.18 EPS. Research analysts predict that KKR & Co. Inc. will post 5.68 EPS for the current fiscal year.

KKR & Co. Inc. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Monday, August 10th were given a dividend of $0.195 per share. The ex-dividend date was Monday, August 10th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.7%. KKR & Co. Inc.'s dividend payout ratio is currently 24.84%.

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on KKR shares. Zacks Research raised shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a report on Thursday, May 28th. UBS Group increased their price objective 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 decreased 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. Oppenheimer lowered their target price on shares of 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. Finally, BMO Capital Markets upped their target price on shares of KKR & Co. Inc. from $112.00 to $118.00 and gave the stock an "outperform" rating in a report on Monday, August 3rd. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $127.75.

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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