Quantbot Technologies LP Makes New $2.53 Million Investment in KKR & Co. Inc. $KKR

Key Points

• Quantbot Technologies LP initiated a $2.53 million position in KKR during the second quarter, while several other institutional investors also bought shares. Institutional ownership now stands at 76.26%.
• Analyst sentiment is positive, with 12 Buy ratings and three Holds. KKR has a “Moderate Buy” consensus rating and an average price target of $127.75.
• KKR exceeded quarterly earnings expectations, reporting $1.63 EPS versus the $1.43 consensus and $5.73 billion in revenue. The company also authorized a $500 million share buyback and declared a quarterly dividend of $0.195 per share.

Quantbot Technologies LP bought a new stake in KKR & Co. Inc. (NYSE:KKR - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 27,591 shares of the asset manager's stock, valued at approximately $2,532,000.

Other hedge funds also recently added to or reduced their stakes in the company. Varma Mutual Pension Insurance Co acquired a new position in shares of KKR & Co. Inc. during the second quarter valued at $11,778,000. Westpac Banking Corp acquired a new stake in shares of KKR & Co. Inc. in the 2nd quarter worth about $537,000. Sumitomo Life Insurance Co. acquired a new stake in shares of KKR & Co. Inc. in the 2nd quarter worth about $2,350,000. Landscape Capital Management L.L.C. bought a new stake in KKR & Co. Inc. in the 2nd quarter valued at about $1,834,000. Finally, Korea Investment CORP bought a new stake in KKR & Co. Inc. in the 2nd quarter valued at about $20,645,000. 76.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on KKR. Zacks Research upgraded shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 28th. Weiss Ratings raised KKR & Co. Inc. from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, June 16th. Argus boosted their price objective on KKR & Co. Inc. from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, August 4th. Keefe, Bruyette & Woods upgraded KKR & Co. Inc. to a "moderate buy" rating in a research report on Monday, July 20th. Finally, HSBC increased their price objective on KKR & Co. Inc. from $118.00 to $121.00 and gave the stock a "buy" rating in a report on Monday, July 20th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, KKR & Co. Inc. currently has an average rating of "Moderate Buy" and a consensus target price of $127.75.

KKR & Co. Inc. Stock Performance

KKR stock opened at $108.59 on Monday. The company has a market capitalization of $97.47 billion, a P/E ratio of 34.58, a PEG ratio of 0.92 and a beta of 1.78. The company has a 50-day simple moving average of $100.09 and a 200 day simple moving average of $97.51. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $152.10. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.71.

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

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

KKR & Co. Inc. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Monday, August 10th will be issued a $0.195 dividend. The ex-dividend date is Monday, August 10th. This represents a $0.78 annualized dividend and a dividend yield of 0.7%. KKR & Co. Inc.'s dividend payout ratio (DPR) is 24.84%.

KKR & Co. Inc. 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.

Want to see what other hedge funds are holding KKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KKR & Co. Inc. (NYSE:KKR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source