Partners Group Holding AG Has $52.01 Million Stock Position in KKR & Co. Inc. $KKR

Key Points

• Partners Group Holding AG trimmed its KKR stake by 5.1% in the fourth quarter, but still held 408,003 shares valued at about $52.0 million, making KKR its 7th-largest position.
• KKR shares were down 3.1% to $92.95, well below their 200-day average of $110.42, while the company reported Q4 earnings of $1.24 per share on revenue of $5.74 billion.
• The company authorized a $500 million share repurchase program and raised its quarterly dividend to $0.195 per share, while analysts maintained a Moderate Buy consensus with a $134.53 price target.

Partners Group Holding AG decreased its holdings in KKR & Co. Inc. (NYSE:KKR - Free Report) by 5.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 408,003 shares of the asset manager's stock after selling 21,805 shares during the quarter. KKR & Co. Inc. accounts for approximately 3.5% of Partners Group Holding AG's holdings, making the stock its 7th largest position. Partners Group Holding AG's holdings in KKR & Co. Inc. were worth $52,012,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of KKR. Strive Asset Management LLC bought a new position in shares of KKR & Co. Inc. in the third quarter worth $535,907,000. Viking Global Investors LP bought a new position in shares of KKR & Co. Inc. in the third quarter worth $352,038,000. Close Asset Management Ltd lifted its holdings in shares of KKR & Co. Inc. by 4,155.1% in the third quarter. Close Asset Management Ltd now owns 1,515,299 shares of the asset manager's stock valued at $196,845,000 after buying an additional 1,479,688 shares during the period. Vanguard Group Inc. lifted its holdings in shares of KKR & Co. Inc. by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 60,064,587 shares of the asset manager's stock valued at $7,657,034,000 after buying an additional 821,739 shares during the period. Finally, M&T Bank Corp lifted its holdings in shares of KKR & Co. Inc. by 3,981.9% in the fourth quarter. M&T Bank Corp now owns 718,536 shares of the asset manager's stock valued at $91,599,000 after buying an additional 700,933 shares during the period. Institutional investors own 76.26% of the company's stock.

KKR & Co. Inc. Stock Down 3.1%

Shares of KKR & Co. Inc. stock opened at $92.95 on Wednesday. The stock has a 50-day moving average price of $95.39 and a 200 day moving average price of $110.42. The company has a market cap of $83.46 billion, a P/E ratio of 31.62, a P/E/G ratio of 0.85 and a beta of 1.85. 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. has a 1 year low of $82.67 and a 1 year high of $153.87.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its quarterly earnings data on Friday, February 27th. The asset manager reported $1.24 earnings per share (EPS) for the quarter. The firm had revenue of $5.74 billion during the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%. As a group, analysts expect that KKR & Co. Inc. will post 5.46 EPS for the current fiscal year.

KKR & Co. Inc. declared that its Board of Directors has authorized a stock repurchase program on Tuesday, May 5th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the asset manager to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.

KKR & Co. Inc. Increases Dividend

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

Insider Transactions at KKR & Co. Inc.

In other KKR & Co. Inc. news, Director Timothy R. Barakett acquired 50,000 shares of KKR & Co. Inc. stock in a transaction that occurred on Wednesday, March 4th. The stock was purchased at an average cost of $94.47 per share, with a total value 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 23.20% of the company's stock.

Analysts Set New Price Targets

KKR has been the subject of several research analyst reports. Piper Sandler cut their price objective on KKR & Co. Inc. from $135.00 to $117.00 and set an "overweight" rating for the company in a report on Tuesday, April 7th. Weiss Ratings restated a "hold (c-)" rating on shares of KKR & Co. Inc. in a report on Monday, May 4th. The Goldman Sachs Group cut their price objective on KKR & Co. Inc. from $145.00 to $110.00 and set a "buy" rating for the company in a report on Tuesday, April 7th. UBS Group upped their price objective on KKR & Co. Inc. from $113.00 to $126.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada cut their price objective on KKR & Co. Inc. from $132.00 to $128.00 and set an "outperform" rating for the company in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, KKR & Co. Inc. currently has an average rating of "Moderate Buy" and a consensus price target of $134.53.

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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