Rathbones Group PLC Raises Stock Position in KKR & Co. Inc. $KKR

Key Points

• Rathbones Group PLC increased its stake in KKR & Co. by 84.3% in the fourth quarter, buying 686,175 additional shares to hold about 1.5 million shares valued at roughly $191.3 million.
• KKR recently approved a $500 million share repurchase program and also raised its quarterly dividend to $0.195 per share, giving it an annualized yield of about 0.8%.
• Insider and analyst activity was mixed: Director Timothy R. Barakett bought 50,000 shares, while several firms cut price targets; the stock’s consensus rating remains Moderate Buy with an average target of $134.53.

Rathbones Group PLC lifted its position in KKR & Co. Inc. (NYSE:KKR - Free Report) by 84.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,500,547 shares of the asset manager's stock after buying an additional 686,175 shares during the period. Rathbones Group PLC owned approximately 0.17% of KKR & Co. Inc. worth $191,290,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ESL Trust Services LLC purchased a new position in shares of KKR & Co. Inc. in the 3rd quarter worth approximately $26,000. Asset Dedication LLC purchased a new position in shares of KKR & Co. Inc. in the 3rd quarter worth approximately $26,000. GGM Financials LLC purchased a new stake in KKR & Co. Inc. during the 3rd quarter worth approximately $27,000. Washington Trust Advisors Inc. purchased a new stake in KKR & Co. Inc. during the 4th quarter worth approximately $27,000. Finally, Elyxium Wealth LLC purchased a new stake in KKR & Co. Inc. during the 4th quarter worth approximately $27,000. Hedge funds and other institutional investors own 76.26% of the company's stock.

KKR & Co. Inc. Stock Performance

Shares of NYSE KKR opened at $94.37 on Thursday. 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 12 month low of $82.67 and a 12 month high of $153.87. The company has a 50 day simple moving average of $95.46 and a two-hundred day simple moving average of $110.25. The stock has a market cap of $84.73 billion, a price-to-earnings ratio of 32.10, a PEG ratio of 0.82 and a beta of 1.85.

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

KKR & Co. Inc. announced that its Board of Directors has approved a stock repurchase plan on Tuesday, May 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the asset manager to purchase up to 0.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management 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. Shareholders of record on Friday, May 15th will be paid a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, May 15th. This is a positive change from KKR & Co. Inc.'s previous quarterly dividend of $0.19. KKR & Co. Inc.'s dividend payout ratio (DPR) is presently 26.53%.

Insider Buying and Selling

In other KKR & Co. Inc. news, Director Timothy R. Barakett acquired 50,000 shares of the firm's stock in a transaction on Wednesday, March 4th. The stock was acquired at an average cost of $94.47 per share, for a total transaction 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 23.20% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on KKR. BMO Capital Markets dropped their target price on shares of KKR & Co. Inc. from $125.00 to $106.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 24th. Wall Street Zen raised shares of KKR & Co. Inc. from a "sell" rating to a "hold" rating in a research report on Sunday, January 25th. HSBC raised shares of KKR & Co. Inc. from a "hold" rating to a "buy" rating and set a $144.00 target price on the stock in a research report on Wednesday, January 28th. The Goldman Sachs Group dropped their target price on shares of KKR & Co. Inc. from $145.00 to $110.00 and set a "buy" rating on the stock in a research report on Tuesday, April 7th. Finally, Oppenheimer dropped their target price on shares of KKR & Co. Inc. from $187.00 to $140.00 and set an "outperform" rating on the stock in a research report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.

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.