TFR Capital LLC. Takes Position in KKR & Co. Inc. $KKR

Key Points

• TFR Capital acquired 19,975 KKR shares during the second quarter, valued at approximately $1.83 million. Institutional investors and hedge funds collectively own 76.26% of KKR’s outstanding stock.
• KKR reported quarterly EPS of $1.63, beating analysts’ $1.43 consensus estimate, while revenue reached $5.73 billion versus expectations of $2.55 billion. The company also authorized a $500 million stock-repurchase program.
• Analysts maintain a generally positive outlook, with 12 Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $127.75 compared with the reported share price of $113.93.

TFR Capital LLC. acquired a new stake in KKR & Co. Inc. (NYSE:KKR - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 19,975 shares of the asset manager's stock, valued at approximately $1,833,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KKR. Praxis Investment Management Inc. grew its holdings in KKR & Co. Inc. by 0.9% during the fourth quarter. Praxis Investment Management Inc. now owns 10,006 shares of the asset manager's stock valued at $1,276,000 after purchasing an additional 94 shares during the last quarter. Horizon Bancorp Inc. IN raised its position in shares of KKR & Co. Inc. by 3.8% in the first quarter. Horizon Bancorp Inc. IN now owns 2,622 shares of the asset manager's stock valued at $243,000 after purchasing an additional 95 shares during the period. Western Pacific Wealth Management LP lifted its stake in shares of KKR & Co. Inc. by 34.8% in the first quarter. Western Pacific Wealth Management LP now owns 387 shares of the asset manager's stock worth $36,000 after buying an additional 100 shares during the last quarter. Wernau Asset Management Inc. lifted its stake in shares of KKR & Co. Inc. by 1.0% in the first quarter. Wernau Asset Management Inc. now owns 10,877 shares of the asset manager's stock worth $1,006,000 after buying an additional 104 shares during the last quarter. Finally, OLD National Bancorp IN lifted its stake in shares of KKR & Co. Inc. by 1.6% in the fourth quarter. OLD National Bancorp IN now owns 6,711 shares of the asset manager's stock worth $856,000 after buying an additional 106 shares during the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

KKR & Co. Inc. Stock Down 1.2%

Shares of KKR stock opened at $113.93 on Friday. KKR & Co. Inc. has a 12 month low of $82.67 and a 12 month 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. The firm has a market cap of $102.27 billion, a PE ratio of 36.28, a price-to-earnings-growth ratio of 0.97 and a beta of 1.78. The stock has a 50 day moving average of $98.75 and a 200-day moving average of $97.89.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The asset manager reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.20. KKR & Co. Inc. had a net margin of 14.41% and a return on equity of 5.88%. The business had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter last year, the company posted $1.18 earnings per share. On average, equities analysts predict that KKR & Co. Inc. will post 5.68 EPS for the current year.

KKR & Co. Inc. declared that its board has initiated a stock repurchase program on Tuesday, May 5th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the asset manager to reacquire up to 0.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

KKR & Co. Inc. Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on KKR shares. Morgan Stanley lowered their target price on shares of KKR & Co. Inc. from $153.00 to $147.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 21st. Barclays boosted their target price on shares of KKR & Co. Inc. from $124.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. Weiss Ratings upgraded shares of KKR & Co. Inc. from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, June 16th. Argus upped their price target on shares of KKR & Co. Inc. from $115.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, August 4th. Finally, Royal Bank Of Canada raised their price target on KKR & Co. Inc. from $125.00 to $134.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, KKR & Co. Inc. has a consensus rating of "Moderate Buy" and a consensus target price of $127.75.

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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