Van ECK Associates Corp Boosts Position in KKR & Co. Inc. $KKR

Key Points

• Van ECK Associates increased its KKR stake by 20.9% in the second quarter, adding 47,364 shares to reach 273,872 shares valued at approximately $25.1 million. Institutional investors collectively own 76.26% of KKR.
• KKR reported quarterly EPS of $1.63, exceeding analysts’ $1.43 estimate, while revenue reached $5.73 billion versus the $2.55 billion consensus forecast.
• Analysts maintain a generally positive outlook, with 12 Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $130, compared with the stock’s recent $108.74 price.

Van ECK Associates Corp boosted its stake in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 20.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 273,872 shares of the asset manager's stock after buying an additional 47,364 shares during the quarter. Van ECK Associates Corp's holdings in KKR & Co. Inc. were worth $25,136,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in KKR. Washington Trust Advisors Inc. bought a new position in KKR & Co. Inc. in the 4th quarter worth about $27,000. Elyxium Wealth LLC bought a new stake in shares of KKR & Co. Inc. during the fourth quarter valued at approximately $27,000. SouthState Bank Corp raised its stake in shares of KKR & Co. Inc. by 185.0% during the fourth quarter. SouthState Bank Corp now owns 228 shares of the asset manager's stock valued at $29,000 after acquiring an additional 148 shares in the last quarter. Garton & Associates Financial Advisors LLC purchased a new stake in shares of KKR & Co. Inc. in the fourth quarter valued at approximately $29,000. Finally, MV Capital Management Inc. purchased a new stake in shares of KKR & Co. Inc. in the fourth quarter valued at approximately $31,000. 76.26% of the stock is owned by hedge funds and other institutional investors.

More KKR & Co. Inc. News

Here are the key news stories impacting KKR & Co. Inc. this week:

• Positive Sentiment: Strong analyst price-target increase: Oppenheimer raised its KKR price target from $139 to $166 and reiterated an “outperform” rating, implying substantial upside from recent levels. Benzinga analyst rating report
• Positive Sentiment: Expansion in private aviation infrastructure: Apollo-managed funds acquired a significant interest in Atlantic Aviation, while KKR-managed funds remain a substantial shareholder. The partnership could support Atlantic Aviation’s growth and preserve KKR’s exposure to a potentially attractive infrastructure platform. Apollo Funds and KKR Announce Strategic Partnership
• Positive Sentiment: New infrastructure investment: KKR and Apollo are partnering with Enbridge on approximately C$2.7 billion of expansions to the Westcoast natural-gas pipeline system in British Columbia, expanding KKR’s exposure to energy infrastructure and long-term contracted assets. Enbridge, KKR form joint venture
• Positive Sentiment: AI data-center exposure: KKR is investing in SK Telecom’s newly launched SK Horizon, an AI data-center infrastructure company. The deal gives KKR participation in the expanding demand for data-center capacity and digital infrastructure. SK Horizon investment announcement
• Neutral Sentiment: Antitrust case resolution: KKR agreed to a stipulation and order with the U.S. Department of Justice, potentially removing some uncertainty, although the settlement also highlights ongoing regulatory and legal risks. KKR reaches settlement in DOJ antitrust case
• Neutral Sentiment: Fixed-income appeal: An analysis described KKR’s “baby bonds” as offering potential capital appreciation, but this is an investment view on the company’s debt securities rather than a direct earnings catalyst for common stock. KKR baby bonds analysis
• Negative Sentiment: Reported fraud investigation: A law firm is seeking KKR investors to participate in a fraud investigation, creating potential litigation, reputational, and financial risks. The notice does not establish wrongdoing, but it may weigh on sentiment. KKR investor fraud investigation notice

KKR & Co. Inc. Stock Up 0.1%

Shares of KKR & Co. Inc. stock opened at $108.74 on Monday. The firm's 50 day moving average price is $101.16 and its 200-day moving average price is $97.68. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.71. KKR & Co. Inc. has a 52-week low of $82.67 and a 52-week high of $152.10. The company has a market cap of $97.61 billion, a P/E ratio of 34.63, a PEG ratio of 0.92 and a beta of 1.78.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The asset manager reported $1.63 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 firm had revenue of $5.73 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the previous year, the business posted $1.18 EPS. On average, sell-side analysts predict that KKR & Co. Inc. will post 5.68 EPS for the current fiscal year.

KKR & Co. Inc. announced that its board has authorized a share buyback program on Tuesday, May 5th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the asset manager to buy up to 0.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

KKR & Co. Inc. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Monday, August 10th were given a dividend of $0.195 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.7%. KKR & Co. Inc.'s dividend payout ratio is presently 24.84%.

Analyst Ratings Changes

Several research analysts have commented on the company. HSBC raised their price objective on KKR & Co. Inc. from $118.00 to $121.00 and gave the stock a "buy" rating in a report on Monday, July 20th. TD Cowen upped their target price on KKR & Co. Inc. from $108.00 to $111.00 and gave the stock a "hold" rating in a report on Monday, August 3rd. Keefe, Bruyette & Woods raised KKR & Co. Inc. to a "moderate buy" rating in a research report on Monday, July 20th. Morgan Stanley decreased their price objective on KKR & Co. Inc. from $153.00 to $147.00 and set an "overweight" rating for the company in a report on Tuesday, July 21st. Finally, UBS Group lifted their price objective on KKR & Co. Inc. from $113.00 to $126.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $130.00.

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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