Tredje AP fonden Grows Stake in KKR & Co. Inc. $KKR

Key Points

• Tredje AP fonden boosted its KKR stake by 34% in the fourth quarter, adding 161,833 shares to reach 637,751 shares valued at about $81.3 million.
• Several hedge funds also made small moves in KKR, and overall institutional investors own 76.26% of the stock.
• KKR has seen mixed Wall Street sentiment: analysts currently rate it Moderate Buy with a consensus target of $134.53, while the company also recently announced a slightly higher dividend and a $500 million share buyback.

Tredje AP fonden raised its stake in KKR & Co. Inc. (NYSE:KKR - Free Report) by 34.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 637,751 shares of the asset manager's stock after purchasing an additional 161,833 shares during the quarter. Tredje AP fonden owned about 0.07% of KKR & Co. Inc. worth $81,300,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in KKR. ESL Trust Services LLC purchased a new position in KKR & Co. Inc. in the third quarter valued at about $26,000. Asset Dedication LLC purchased a new position in KKR & Co. Inc. in the third quarter valued at about $26,000. GGM Financials LLC purchased a new position in KKR & Co. Inc. in the third quarter valued at about $27,000. Washington Trust Advisors Inc. purchased a new position in KKR & Co. Inc. in the fourth quarter valued at about $27,000. Finally, Elyxium Wealth LLC purchased a new position in KKR & Co. Inc. in the fourth quarter valued at about $27,000. 76.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on KKR. Royal Bank Of Canada dropped their target price on KKR & Co. Inc. from $132.00 to $128.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 6th. 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 report on Wednesday, January 28th. TD Cowen dropped their target price on KKR & Co. Inc. from $106.00 to $104.00 and set a "hold" rating on the stock in a research report on Monday. BMO Capital Markets dropped their target price on 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. Finally, Barclays dropped their target price on KKR & Co. Inc. from $127.00 to $122.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 6th. One research 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $134.53.

Insider Buying and Selling

In other news, Director Timothy R. Barakett purchased 50,000 shares of the firm's stock in a transaction that occurred 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 completion of the purchase, the director owned 285,000 shares of the company's stock, valued at approximately $26,923,950. This trade represents a 21.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 23.20% of the company's stock.

KKR & Co. Inc. Stock Down 1.0%

Shares of NYSE KKR opened at $96.01 on Tuesday. The firm 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 1 year low of $82.67 and a 1 year high of $153.87. The stock's 50-day simple moving average is $95.36 and its 200-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.

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

KKR & Co. Inc. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be paid a $0.195 dividend. 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. The ex-dividend date is Friday, May 15th. KKR & Co. Inc.'s payout ratio is 26.53%.

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

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.

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