Morgan Stanley Issues Pessimistic Forecast for KKR & Co. Inc. (NYSE:KKR) Stock Price

Key Points

• Morgan Stanley lowered its price target on KKR from $153 to $147 while keeping an overweight rating, implying about 51.6% upside from the current price.
• Other analysts have also trimmed targets recently, but the stock still carries a Moderate Buy consensus with 11 Buy ratings and 3 Hold ratings. The average analyst target price is $128.08.
• KKR shares were trading around $96.94, near their 50-day moving average and below the 200-day average, while the company has also authorized a $500 million share buyback. During the article period, an executive sold shares and institutional investors continued to hold a large stake in the company.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) had its target price lowered by research analysts at Morgan Stanley from $153.00 to $147.00 in a report released on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the asset manager's stock. Morgan Stanley's target price points to a potential upside of 51.64% from the company's current price.

A number of other brokerages have also weighed in on KKR. Piper Sandler decreased their target price on 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. Zacks Research raised shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a report on Thursday, May 28th. Royal Bank Of Canada reduced their price target on shares of KKR & Co. Inc. from $128.00 to $125.00 and set an "outperform" rating for the company in a research note on Monday, July 13th. Oppenheimer lowered their price objective on shares of KKR & Co. Inc. from $143.00 to $139.00 and set an "outperform" rating on the stock in a research report on Friday. Finally, The Goldman Sachs Group dropped their target price on shares of KKR & Co. Inc. from $145.00 to $110.00 and set a "buy" rating on the stock in a report on Tuesday, April 7th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $128.08.

KKR & Co. Inc. Stock Down 0.0%

KKR stock traded down $0.03 during midday trading on Tuesday, hitting $96.94. The company's stock had a trading volume of 1,399,498 shares, compared to its average volume of 6,031,723. The firm's 50-day moving average is $95.42 and its 200-day moving average is $101.12. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.70. KKR & Co. Inc. has a 12 month low of $82.67 and a 12 month high of $153.87. The company has a market cap of $87.04 billion, a PE ratio of 32.99, a P/E/G ratio of 0.84 and a beta of 1.79.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last posted its earnings results on Friday, February 27th. The asset manager reported $1.24 EPS for the quarter. The business had revenue of $5.74 billion during the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%. On average, equities research analysts forecast that KKR & Co. Inc. will post 5.58 earnings per share for the current fiscal year.

KKR & Co. Inc. announced that its board has initiated a share buyback plan on Tuesday, May 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the asset manager to repurchase up to 0.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its stock is undervalued.

Insider Activity at KKR & Co. Inc.

In other news, EVP Yael Cosset sold 30,000 shares of the company's stock in a transaction dated Tuesday, July 14th. The shares were sold at an average price of $58.80, for a total transaction of $1,764,000.00. Following the completion of the sale, the executive vice president owned 127,868 shares of the company's stock, valued at $7,518,638.40. This represents a 19.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 23.20% of the stock is owned by insiders.

Institutional Trading of KKR & Co. Inc.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of KKR & Co. Inc. by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 60,064,587 shares of the asset manager's stock valued at $7,657,034,000 after acquiring an additional 821,739 shares during the period. Principal Financial Group Inc. raised its holdings in KKR & Co. Inc. by 6.9% in the 1st quarter. Principal Financial Group Inc. now owns 19,507,741 shares of the asset manager's stock worth $1,804,470,000 after purchasing an additional 1,261,314 shares during the period. Geode Capital Management LLC lifted its position in KKR & Co. Inc. by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 14,995,742 shares of the asset manager's stock valued at $1,903,220,000 after purchasing an additional 146,285 shares in the last quarter. Norges Bank bought a new stake in KKR & Co. Inc. during the fourth quarter valued at about $1,715,929,000. Finally, First Manhattan CO. LLC. grew its holdings in KKR & Co. Inc. by 0.8% during the fourth quarter. First Manhattan CO. LLC. now owns 8,597,044 shares of the asset manager's stock valued at $1,095,951,000 after purchasing an additional 67,441 shares during the period. 76.26% of the stock is owned by hedge funds and other institutional investors.

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.

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.