Piper Sandler Has Lowered Expectations for KKR & Co. Inc. (NYSE:KKR) Stock Price

Key Points

• Piper Sandler cut its price target on KKR from $135 to $117 but maintained an "overweight" rating, with the new target implying about a 29% upside from the previous close.
• Shares traded at $90.51 (down 0.6%), well below the consensus average price target of $143.43 and the 200‑day moving average of $116, with a market cap of about $80.7B and a P/E of 38.7.
• Insider buying is significant: CEO Scott Nuttall bought 125,000 shares at $102.66 and director Timothy Barakett bought 50,000 shares, with insiders acquiring ~393,872 shares (~$40.1M) in the last three months and owning 23.2% of the stock.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) had its target price decreased by stock analysts at Piper Sandler from $135.00 to $117.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the asset manager's stock. Piper Sandler's target price indicates a potential upside of 29.27% from the company's previous close.

Several other equities research analysts also recently commented on the stock. Royal Bank Of Canada started coverage on shares of KKR & Co. Inc. in a research report on Tuesday, February 24th. They set an "outperform" rating and a $137.00 target price for the company. Oppenheimer decreased their target price on shares of KKR & Co. Inc. from $190.00 to $187.00 and set an "outperform" rating for the company in a research report on Friday, February 6th. Weiss Ratings raised shares of KKR & Co. Inc. from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, February 4th. Wall Street Zen raised shares of KKR & Co. Inc. from a "sell" rating to a "hold" rating in a research report on Sunday, January 25th. Finally, UBS Group cut their price target on shares of KKR & Co. Inc. from $168.00 to $125.00 and set a "buy" rating on the stock in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $143.43.

KKR & Co. Inc. Stock Down 0.6%

Shares of NYSE:KKR traded down $0.54 during midday trading on Tuesday, hitting $90.51. 1,148,388 shares of the company's stock were exchanged, compared to its average volume of 7,525,682. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.07 and a quick ratio of 0.07. The stock has a 50 day moving average price of $96.56 and a 200-day moving average price of $116.06. The company has a market cap of $80.69 billion, a PE ratio of 38.68, a price-to-earnings-growth ratio of 0.67 and a beta of 1.93. KKR & Co. Inc. has a 12 month low of $82.67 and a 12 month high of $153.87.

Insider Activity

In other news, CEO Scott C. Nuttall purchased 125,000 shares of the business's stock in a transaction that occurred on Tuesday, February 17th. The shares were acquired at an average cost of $102.66 per share, for a total transaction of $12,832,500.00. Following the completion of the acquisition, the chief executive officer owned 15,503,748 shares in the company, valued at $1,591,614,769.68. This trade represents a 0.81% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Timothy R. Barakett bought 50,000 shares of the company's stock in a transaction on Wednesday, March 4th. The stock was bought at an average price of $94.47 per share, for a total transaction of $4,723,500.00. Following the completion of the purchase, the director owned 285,000 shares of the company's stock, valued at approximately $26,923,950. The trade was a 21.28% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 393,872 shares of company stock valued at $40,090,679 in the last three months. 23.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ESL Trust Services LLC purchased a new position in KKR & Co. Inc. in the third quarter valued at about $26,000. Asset Dedication LLC purchased a new position in KKR & Co. Inc. in the third quarter valued at about $26,000. GGM Financials LLC purchased a new position in KKR & Co. Inc. in the third quarter valued at about $27,000. Washington Trust Advisors Inc. purchased a new position in KKR & Co. Inc. in the fourth quarter valued at about $27,000. Finally, Elyxium Wealth LLC bought a new stake in shares of KKR & Co. Inc. in the fourth quarter valued at approximately $27,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

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.

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.