Vestcor Inc Raises Holdings in KKR & Co. Inc. $KKR

Key Points

• Vestcor Inc increased its stake in KKR & Co. Inc. by 74.3% in the fourth quarter, buying 12,900 additional shares and bringing its total holding to 30,268 shares worth about $3.86 million.
• Wall Street remains generally constructive on KKR, with a consensus rating of “Moderate Buy” and an average price target of $134.53, though several firms recently trimmed their targets.
• KKR approved a $500 million share buyback and recently raised its quarterly dividend to $0.195 per share, implying an annualized yield of about 0.8%.

Vestcor Inc raised its holdings in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 74.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 30,268 shares of the asset manager's stock after purchasing an additional 12,900 shares during the period. Vestcor Inc's holdings in KKR & Co. Inc. were worth $3,859,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Asset Dedication LLC bought a new position in shares of KKR & Co. Inc. during the 3rd quarter valued at $26,000. GGM Financials LLC bought a new position in shares of KKR & Co. Inc. during the 3rd quarter valued at $27,000. Washington Trust Advisors Inc. bought a new position in shares of KKR & Co. Inc. during the 4th quarter valued at $27,000. Elyxium Wealth LLC bought a new position in shares of KKR & Co. Inc. during the 4th quarter valued at $27,000. Finally, Atlantic Union Bankshares Corp bought a new position in shares of KKR & Co. Inc. during the 3rd quarter valued at $33,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KKR has been the topic of several research analyst reports. Barclays lowered their price target on KKR & Co. Inc. from $127.00 to $122.00 and set an "overweight" rating on the stock in a report on Wednesday, May 6th. TD Cowen lowered their price target on KKR & Co. Inc. from $106.00 to $104.00 and set a "hold" rating on the stock in a report on Monday, May 18th. Royal Bank Of Canada lowered their price target on KKR & Co. Inc. from $132.00 to $128.00 and set an "outperform" rating on the stock in a report on Wednesday, May 6th. The Goldman Sachs Group lowered their price target on KKR & Co. Inc. from $145.00 to $110.00 and set a "buy" rating on the stock in a report on Tuesday, April 7th. Finally, Zacks Research raised KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, KKR & Co. Inc. currently has a consensus rating of "Moderate Buy" and an average target price of $134.53.

KKR & Co. Inc. Price Performance

Shares of KKR & Co. Inc. stock opened at $93.51 on Friday. KKR & Co. Inc. has a one year low of $82.67 and a one year high of $153.87. The stock's fifty day moving average is $96.81 and its 200 day moving average is $108.17. The stock has a market cap of $83.96 billion, a P/E ratio of 31.81, a P/E/G ratio of 0.81 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.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its 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 5.42% and a net margin of 13.94%.The company had revenue of $5.74 billion for the quarter. Sell-side analysts anticipate that KKR & Co. Inc. will post 5.51 earnings per share for the current year.

KKR & Co. Inc. declared that its Board of Directors has approved a share buyback 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 repurchase up to 0.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board believes its shares are undervalued.

KKR & Co. Inc. Increases Dividend

The business 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 dividend on an annualized basis 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 26.53%.

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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