Wealthfront Advisers LLC Takes Position in KKR & Co. Inc. $KKR

Key Points

• Wealthfront Advisers initiated a position in KKR, acquiring 29,141 shares valued at approximately $2.68 million. Institutional investors and hedge funds collectively own 76.26% of KKR’s outstanding shares.
• KKR reported quarterly earnings of $1.63 per share, beating analyst expectations of $1.43, while revenue reached $5.73 billion versus the $2.55 billion consensus estimate.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and a target price of $127.75. KKR also announced a $0.195 quarterly dividend and authorized a $500 million share-repurchase program.

Wealthfront Advisers LLC acquired a new position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 29,141 shares of the asset manager's stock, valued at approximately $2,675,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC raised its stake in shares of KKR & Co. Inc. by 109.6% in the 4th quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager's stock valued at $689,000 after purchasing an additional 2,437 shares during the period. Bison Wealth LLC acquired a new position in shares of KKR & Co. Inc. during the fourth quarter worth about $218,000. Sivia Capital Partners LLC grew its holdings in shares of KKR & Co. Inc. by 13.1% during the second quarter. Sivia Capital Partners LLC now owns 2,050 shares of the asset manager's stock worth $273,000 after buying an additional 237 shares in the last quarter. United Bank bought a new position in shares of KKR & Co. Inc. during the second quarter worth about $769,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in KKR & Co. Inc. in the 2nd quarter valued at approximately $4,826,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.

KKR & Co. Inc. Stock Down 2.9%

KKR & Co. Inc. stock opened at $107.21 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.09 and a quick ratio of 0.09. The company's 50-day moving average is $99.84 and its 200-day moving average is $97.55. The firm has a market capitalization of $96.24 billion, a PE ratio of 34.14, a P/E/G ratio of 0.94 and a beta of 1.78. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $152.10.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last issued its earnings results on Thursday, July 30th. The asset manager reported $1.63 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same period last year, the business posted $1.18 EPS. Sell-side analysts anticipate that KKR & Co. Inc. will post 5.68 earnings per share for the current year.

KKR & Co. Inc. Dividend Announcement

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

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on KKR shares. UBS Group boosted their target price on KKR & Co. Inc. from $113.00 to $126.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. 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. Keefe, Bruyette & Woods raised shares of KKR & Co. Inc. to a "moderate buy" rating in a research report on Monday, July 20th. TD Cowen increased their target price on shares of KKR & Co. Inc. from $108.00 to $111.00 and gave the stock a "hold" rating in a report on Monday, August 3rd. Finally, 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. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, KKR & Co. Inc. has an average rating of "Moderate Buy" and a consensus target price of $127.75.

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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