Trivest Advisors Ltd Makes New $9.94 Million Investment in KKR & Co. Inc. $KKR

Key Points

• Trivest Advisors Ltd initiated a new position in KKR & Co. Inc. during the fourth quarter, buying 78,000 shares valued at about $9.94 million. The stake represents roughly 0.5% of Trivest’s portfolio and is its 19th-largest holding.
• KKR recently announced a quarterly dividend increase to $0.195 per share, or $0.78 annualized, for a yield of about 0.8%. The company also authorized a $500 million share repurchase program.
• Despite the new investment activity, KKR shares were down 2.0% and opened at $93.51, well below the consensus analyst target of $134.53. Analyst sentiment remains mixed but leans positive, with a Moderate Buy rating overall.

Trivest Advisors Ltd bought a new position in KKR & Co. Inc. (NYSE:KKR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 78,000 shares of the asset manager's stock, valued at approximately $9,943,000. KKR & Co. Inc. accounts for about 0.5% of Trivest Advisors Ltd's investment portfolio, making the stock its 19th largest position.

Other large investors have also added to or reduced their stakes in the company. Asset Dedication LLC bought a new stake in KKR & Co. Inc. in the 3rd quarter worth approximately $26,000. GGM Financials LLC bought a new stake in KKR & Co. Inc. in the 3rd quarter worth approximately $27,000. Washington Trust Advisors Inc. bought a new stake in KKR & Co. Inc. in the 4th quarter worth approximately $27,000. Elyxium Wealth LLC bought a new stake in KKR & Co. Inc. in the 4th quarter worth approximately $27,000. Finally, Atlantic Union Bankshares Corp bought a new stake in KKR & Co. Inc. in the 3rd quarter worth approximately $33,000. Institutional investors own 76.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on KKR shares. Zacks Research raised shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 28th. Piper Sandler cut their price objective on shares of 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. UBS Group boosted their price objective on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Morgan Stanley cut their price objective on shares of KKR & Co. Inc. from $177.00 to $153.00 and set an "overweight" rating for the company in a research report on Tuesday, April 21st. Finally, Oppenheimer cut their price objective on shares of 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. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, KKR & Co. Inc. has a consensus rating of "Moderate Buy" and an average target price of $134.53.

KKR & Co. Inc. Trading Down 2.0%

Shares of KKR & Co. Inc. stock opened at $93.51 on Friday. The company has a market capitalization of $83.96 billion, a P/E ratio of 31.81, a P/E/G ratio of 0.83 and a beta of 1.79. 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 company has a fifty day moving average of $96.81 and a 200 day moving average of $108.17. 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 issued its earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. The company had revenue of $5.74 billion during the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. On average, sell-side analysts anticipate that KKR & Co. Inc. will post 5.51 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a $0.195 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.78 annualized dividend and a 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 currently 26.53%.

KKR & Co. Inc. announced that its Board of Directors has approved a stock 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 reacquire up to 0.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

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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