Vise Technologies Inc. Purchases New Shares in KKR & Co. Inc. $KKR

Key Points

• Vise Technologies acquired 12,543 shares of KKR worth approximately $1.15 million in the second quarter. Institutional investors and hedge funds collectively own 76.26% of KKR’s outstanding stock.
• Analyst sentiment remains positive, with 12 Buy ratings and three Holds, producing a consensus “Moderate Buy” rating and a $127.75 price target. Recent targets ranged from $111 to $139.
• KKR exceeded quarterly earnings expectations, reporting $1.63 in EPS versus the $1.43 consensus and $5.73 billion in revenue. The company also maintains a $500 million share-repurchase authorization and pays a quarterly dividend of $0.195 per share.

Vise Technologies Inc. acquired a new stake in KKR & Co. Inc. (NYSE:KKR - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 12,543 shares of the asset manager's stock, valued at approximately $1,151,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Norges Bank bought a new position in shares of KKR & Co. Inc. in the fourth quarter valued at about $1,715,929,000. Bank of New York Mellon Corp bought a new stake in KKR & Co. Inc. during the 2nd quarter worth about $298,311,000. Viking Global Investors LP bought a new stake in KKR & Co. Inc. during the 3rd quarter worth about $352,038,000. Temasek Holdings Private Ltd increased its position in KKR & Co. Inc. by 164.4% in the 1st quarter. Temasek Holdings Private Ltd now owns 3,522,797 shares of the asset manager's stock valued at $325,859,000 after acquiring an additional 2,190,248 shares in the last quarter. Finally, Farallon Capital Management LLC acquired a new stake in KKR & Co. Inc. in the 4th quarter valued at about $257,216,000. Institutional investors and hedge funds own 76.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on KKR. Oppenheimer dropped their target price on shares of KKR & Co. Inc. from $143.00 to $139.00 and set an "outperform" rating for the company in a research note on Friday, July 17th. Weiss Ratings raised shares of KKR & Co. Inc. from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, June 16th. Royal Bank Of Canada raised their price target on shares of KKR & Co. Inc. from $125.00 to $134.00 and gave the company an "outperform" rating in a report on Friday, July 31st. BMO Capital Markets boosted their price objective on shares of KKR & Co. Inc. from $112.00 to $118.00 and gave the stock an "outperform" rating in a research report on Monday, August 3rd. Finally, TD Cowen upped their price objective on KKR & Co. Inc. from $108.00 to $111.00 and gave the stock a "hold" rating in a report on Monday, August 3rd. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, KKR & Co. Inc. currently has a consensus rating of "Moderate Buy" and a consensus price target of $127.75.

KKR & Co. Inc. Stock Performance

Shares of NYSE:KKR opened at $108.59 on Friday. The stock has a market capitalization of $97.47 billion, a P/E ratio of 34.58, a P/E/G ratio of 0.93 and a beta of 1.78. KKR & Co. Inc. has a 1-year low of $82.67 and a 1-year high of $152.10. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.71. The business has a 50-day moving average price of $100.09 and a two-hundred day moving average price of $97.62.

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

KKR & Co. Inc. Announces Dividend

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

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

KKR & Co. Inc. Company 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.

Want to see what other hedge funds are holding KKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KKR & Co. Inc. (NYSE:KKR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source