TD Private Client Wealth LLC Decreases Stock Position in KKR & Co. Inc. $KKR

Key Points

• TD Private Client Wealth LLC cut its KKR stake by 24.7% in the fourth quarter, selling 11,322 shares and ending with 34,448 shares valued at about $4.39 million.
• KKR continues to attract large institutional interest, with several firms making major purchases or significantly increasing holdings; hedge funds and other institutions now own 76.26% of the company.
• KKR reported solid recent fundamentals and shareholder returns, including Q1 earnings of $1.24 per share, a new $500 million share repurchase authorization, and a slightly higher quarterly dividend of $0.195 per share.

TD Private Client Wealth LLC lowered its stake in KKR & Co. Inc. (NYSE:KKR - Free Report) by 24.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,448 shares of the asset manager's stock after selling 11,322 shares during the period. TD Private Client Wealth LLC's holdings in KKR & Co. Inc. were worth $4,391,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of KKR. Strive Asset Management LLC purchased a new position in shares of KKR & Co. Inc. in the third quarter worth about $535,907,000. Viking Global Investors LP purchased a new position in shares of KKR & Co. Inc. in the third quarter worth about $352,038,000. Close Asset Management Ltd grew its stake 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 worth $196,845,000 after purchasing an additional 1,479,688 shares during the last quarter. Vanguard Group Inc. grew its stake 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 worth $7,657,034,000 after purchasing an additional 821,739 shares during the last quarter. Finally, M&T Bank Corp grew its stake 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 worth $91,599,000 after purchasing an additional 700,933 shares during the last quarter. Hedge funds and other institutional investors own 76.26% of the company's stock.

KKR & Co. Inc. Stock Performance

KKR & Co. Inc. stock opened at $96.01 on Tuesday. The stock's 50 day simple moving average is $95.36 and its two-hundred day simple moving average is $110.60. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.08 and a current ratio of 0.08. The stock has a market cap of $86.20 billion, a price-to-earnings ratio of 32.66, a PEG ratio of 0.86 and a beta of 1.85. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $153.87.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last posted its quarterly earnings data on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. The business 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%. As a group, analysts expect that KKR & Co. Inc. will post 5.46 earnings per share for the current fiscal year.

KKR & Co. Inc. announced that its Board of Directors has approved a share repurchase program 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 shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its stock is undervalued.

KKR & Co. Inc. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be given a $0.195 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.8%. This is an increase from KKR & Co. Inc.'s previous quarterly dividend of $0.19. KKR & Co. Inc.'s payout ratio is presently 26.53%.

Insider Activity at KKR & Co. Inc.

In related news, Director Timothy R. Barakett purchased 50,000 shares of the company's stock in a transaction dated Wednesday, March 4th. The shares were purchased at an average cost of $94.47 per share, with a total value of $4,723,500.00. Following the transaction, the director directly owned 285,000 shares in the company, valued at $26,923,950. This trade represents a 21.28% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 23.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on KKR shares. Morgan Stanley cut their target price on KKR & Co. Inc. from $177.00 to $153.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 21st. Wall Street Zen raised KKR & Co. Inc. from a "sell" rating to a "hold" rating in a research note on Sunday, January 25th. Piper Sandler cut their target price on KKR & Co. Inc. from $135.00 to $117.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 7th. HSBC raised KKR & Co. Inc. from a "hold" rating to a "buy" rating and set a $144.00 target price on the stock in a research note on Wednesday, January 28th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of KKR & Co. Inc. in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average 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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