Rakuten Investment Management Inc. Has $11.34 Million Stock Holdings in KKR & Co. Inc. $KKR

Key Points

• Rakuten Investment Management reduced its KKR stake by 73.1% in the fourth quarter, selling 238,030 shares and ending with 87,633 shares worth about $11.34 million.
• KKR continues to attract major institutional interest, with firms like Vanguard, Geode Capital, Norges Bank and others holding large positions; overall, 76.26% of the stock is owned by institutions and hedge funds.
• The company recently boosted its quarterly dividend to $0.195 per share and authorized a $500 million share buyback, while analysts maintain a consensus rating of Moderate Buy with a price target of $134.53.

Rakuten Investment Management Inc. cut its stake in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 73.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 87,633 shares of the asset manager's stock after selling 238,030 shares during the period. Rakuten Investment Management Inc.'s holdings in KKR & Co. Inc. were worth $11,341,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in KKR & Co. Inc. by 1.4% during 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 purchasing an additional 821,739 shares during the last quarter. Geode Capital Management LLC boosted its position in KKR & Co. Inc. by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 14,995,742 shares of the asset manager's stock valued at $1,903,220,000 after purchasing an additional 146,285 shares during the last quarter. Norges Bank acquired a new position in KKR & Co. Inc. during the fourth quarter valued at approximately $1,715,929,000. Capital Research Global Investors boosted its position in KKR & Co. Inc. by 0.4% during the fourth quarter. Capital Research Global Investors now owns 5,602,262 shares of the asset manager's stock valued at $714,195,000 after purchasing an additional 23,483 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in KKR & Co. Inc. by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,866,227 shares of the asset manager's stock valued at $620,347,000 after purchasing an additional 129,745 shares during the last quarter. 76.26% of the stock is owned by institutional investors and hedge funds.

KKR & Co. Inc. Stock Performance

KKR opened at $98.81 on Wednesday. KKR & Co. Inc. has a 12-month low of $82.67 and a 12-month high of $153.87. The stock has a market cap of $88.72 billion, a price-to-earnings ratio of 33.61, a PEG ratio of 0.85 and a beta of 1.79. The business has a 50 day moving average of $97.55 and a 200-day moving average of $107.06. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.70.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. The company had revenue of $5.74 billion for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%. On average, equities research analysts expect that KKR & Co. Inc. will post 5.51 earnings per share for the current year.

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

KKR & Co. Inc. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a $0.195 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.78 dividend on an annualized basis and a yield of 0.8%. This is a positive change from KKR & Co. Inc.'s previous quarterly dividend of $0.19. KKR & Co. Inc.'s payout ratio is currently 26.53%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on KKR. UBS Group raised their price objective on KKR & Co. Inc. from $113.00 to $126.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. TD Cowen cut their price objective on KKR & Co. Inc. from $106.00 to $104.00 and set a "hold" rating for the company in a research report on Monday, May 18th. Barclays cut their price objective on KKR & Co. Inc. from $127.00 to $122.00 and set an "overweight" rating for the company in a research report on Wednesday, May 6th. 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 research report on Tuesday, April 7th. Finally, Weiss Ratings cut KKR & Co. Inc. from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $134.53.

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.

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.