TD Cowen Has Lowered Expectations for KKR & Co. Inc. (NYSE:KKR) Stock Price

Key Points

• TD Cowen trimmed its price target on KKR & Co. Inc. from $106 to $104 while keeping a Hold rating, implying about 7.38% upside from the current share price.
• KKR’s stock was trading around $96.85, down slightly on the day, with a market value of about $86.96 billion; the shares remain well below their 52-week high of $153.87.
• Despite mixed analyst sentiment, KKR recently announced a $500 million share buyback, and insiders have also been buying shares, including the CEO and a director.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) had its target price reduced by research analysts at TD Cowen from $106.00 to $104.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a "hold" rating on the asset manager's stock. TD Cowen's price objective points to a potential upside of 7.38% from the stock's current price.

KKR has been the subject of several other reports. BMO Capital Markets cut their price objective on shares of KKR & Co. Inc. from $125.00 to $106.00 and set an "outperform" rating for the company in a research report on Tuesday, March 24th. Royal Bank Of Canada cut their price objective on shares of KKR & Co. Inc. from $132.00 to $128.00 and set an "outperform" rating for the company in a research report on Wednesday, May 6th. Morgan Stanley dropped their price target on shares of KKR & Co. Inc. from $177.00 to $153.00 and set an "overweight" rating for the company in a research report on Tuesday, April 21st. Zacks Research cut shares of KKR & Co. Inc. from a "hold" rating to a "strong sell" rating in a research report on Monday, April 13th. Finally, UBS Group lifted their price target on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $134.53.

KKR & Co. Inc. Trading Down 0.1%

KKR & Co. Inc. stock traded down $0.12 during midday trading on Monday, hitting $96.85. 697,590 shares of the stock were exchanged, compared to its average volume of 6,732,190. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $153.87. The stock has a market capitalization of $86.96 billion, a price-to-earnings ratio of 33.07, a PEG ratio of 0.86 and a beta of 1.85. The stock's 50-day simple moving average is $95.35 and its 200 day simple moving average is $110.77. 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. (NYSE:KKR - Get Free Report) last released its quarterly earnings data on Friday, February 27th. The asset manager reported $1.24 earnings per share (EPS) for the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. The firm had revenue of $5.74 billion during the quarter. On average, equities analysts anticipate that KKR & Co. Inc. will post 5.46 EPS for the current year.

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

Insider Buying and Selling at KKR & Co. Inc.

In other KKR & Co. Inc. news, Director Timothy R. Barakett acquired 50,000 shares of the stock in a transaction dated Wednesday, March 4th. The stock was acquired at an average price of $94.47 per share, with a total value of $4,723,500.00. Following the completion of the purchase, the director owned 285,000 shares in the company, valued at $26,923,950. This trade represents a 21.28% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph Y. Bae acquired 125,000 shares of the stock in a transaction dated Tuesday, February 17th. The stock was acquired at an average cost of $102.19 per share, with a total value of $12,773,750.00. Following the purchase, the chief executive officer owned 509,257 shares of the company's stock, valued at approximately $52,040,972.83. This trade represents a 32.53% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders acquired 343,872 shares of company stock worth $34,844,179. 23.20% of the stock is owned by company 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 stock. Empowered Funds LLC raised its holdings in KKR & Co. Inc. by 95.1% during the first quarter. Empowered Funds LLC now owns 61,528 shares of the asset manager's stock worth $5,691,000 after purchasing an additional 29,991 shares in the last quarter. Estuary Capital Management LP acquired a new position in shares of KKR & Co. Inc. in the 1st quarter valued at $20,107,000. Quantinno Capital Management LP increased its holdings in shares of KKR & Co. Inc. by 2.6% in the 1st quarter. Quantinno Capital Management LP now owns 231,319 shares of the asset manager's stock valued at $21,397,000 after acquiring an additional 5,963 shares during the period. Q Global Advisors LLC acquired a new position in shares of KKR & Co. Inc. in the 1st quarter valued at $5,643,000. Finally, BROOKFIELD Corp ON acquired a new position in shares of KKR & Co. Inc. in the 1st quarter valued at $26,085,000. Institutional investors and hedge funds own 76.26% of the company's stock.

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.

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