Teacher Retirement System of Texas Boosts Stock Position in KKR & Co. Inc. $KKR

Key Points

• Teacher Retirement System of Texas increased its stake in KKR by 16.6%, buying 15,996 shares to hold 112,183 shares worth about $14.3 million as of the latest SEC filing.
• Analysts have trimmed price targets recently, but the stock retains a consensus rating of "Moderate Buy" with a consensus target price of $137.20.
• There is notable investor interest: insiders purchased 393,872 shares (~$40.1 million) in the past three months and institutional/hedge funds own about 76.26% of KKR, while insiders hold 23.2%.

Teacher Retirement System of Texas grew its holdings in KKR & Co. Inc. (NYSE:KKR - Free Report) by 16.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 112,183 shares of the asset manager's stock after buying an additional 15,996 shares during the quarter. Teacher Retirement System of Texas' holdings in KKR & Co. Inc. were worth $14,301,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in KKR. Brighton Jones LLC increased its position in shares of KKR & Co. Inc. by 109.6% in the fourth quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager's stock valued at $689,000 after buying an additional 2,437 shares in the last quarter. Bison Wealth LLC purchased a new stake in shares of KKR & Co. Inc. in the fourth quarter valued at approximately $218,000. Sivia Capital Partners LLC increased its position in shares of KKR & Co. Inc. by 13.1% in the second quarter. Sivia Capital Partners LLC now owns 2,050 shares of the asset manager's stock valued at $273,000 after buying an additional 237 shares in the last quarter. United Bank purchased a new stake in shares of KKR & Co. Inc. in the second quarter valued at approximately $769,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of KKR & Co. Inc. in the second quarter valued at approximately $4,826,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KKR has been the subject of a number of recent analyst reports. Barclays cut their price objective on KKR & Co. Inc. from $136.00 to $127.00 and set an "overweight" rating for the company in a research report on Monday, March 2nd. Oppenheimer cut their price objective on KKR & Co. Inc. from $187.00 to $140.00 and set an "outperform" rating for the company in a research report on Monday, April 13th. BMO Capital Markets cut their price objective on KKR & Co. Inc. from $125.00 to $106.00 and set an "outperform" rating for the company in a research report on Tuesday, March 24th. Royal Bank Of Canada assumed coverage on KKR & Co. Inc. in a research report on Tuesday, February 24th. They set an "outperform" rating and a $137.00 price target for the company. Finally, Piper Sandler dropped their price target 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. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $137.20.

KKR & Co. Inc. Stock Up 0.2%

Shares of KKR opened at $101.87 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.07 and a current ratio of 0.07. KKR & Co. Inc. has a one year low of $82.67 and a one year high of $153.87. The stock has a market capitalization of $90.82 billion, a price-to-earnings ratio of 43.53, a PEG ratio of 0.89 and a beta of 1.93. The stock has a 50 day moving average price of $94.28 and a 200 day moving average price of $112.88.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last issued its quarterly earnings results on Friday, February 27th. The asset manager reported $1.24 EPS for the quarter. KKR & Co. Inc. had a return on equity of 5.57% and a net margin of 11.97%.The firm had revenue of $5.74 billion during the quarter. Equities research analysts forecast that KKR & Co. Inc. will post 5.45 earnings per share for the current fiscal year.

KKR & Co. Inc. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th were paid a dividend of $0.185 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.74 dividend on an annualized basis and a yield of 0.7%. KKR & Co. Inc.'s payout ratio is 31.62%.

Insider Buying and Selling

In related news, Director Matt Cohler acquired 43,872 shares of the stock in a transaction on Tuesday, February 17th. The shares were bought at an average price of $102.90 per share, with a total value of $4,514,428.80. Following the completion of the purchase, the director owned 45,477 shares of the company's stock, valued at approximately $4,679,583.30. This represents a 2,733.46% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy R. Barakett acquired 50,000 shares of the stock in a transaction on Wednesday, March 4th. The shares were bought at an average cost of $94.47 per share, for a total transaction of $4,723,500.00. Following the purchase, the director directly owned 285,000 shares of the company's stock, valued at $26,923,950. The trade was a 21.28% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders purchased 393,872 shares of company stock worth $40,090,679. 23.20% of the stock is currently owned by corporate insiders.

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.

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