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KKR & Co. Inc. (NYSE:KKR) Stock Rating Upgraded by Wall Street Zen

KKR & Co. Inc. logo with Finance background

Key Points

  • KKR & Co. Inc. has been upgraded from a "strong sell" to a "hold" rating by analysts at Wall Street Zen, reflecting increased confidence in the stock.
  • Oppenheimer raised their price target on KKR shares from $149.00 to $162.00, while Citigroup increased their target from $160.00 to $170.00, indicating positive market sentiment.
  • Insider trading activity shows that Director Timothy R. Barakett purchased 35,000 shares, increasing his holdings by 23.33%, while a major shareholder sold 6 million shares, signaling varied outlooks among insiders.
  • MarketBeat previews top five stocks to own in September.

Wall Street Zen upgraded shares of KKR & Co. Inc. (NYSE:KKR - Free Report) from a strong sell rating to a hold rating in a research report sent to investors on Saturday morning.

Several other research firms have also recently issued reports on KKR. Wells Fargo & Company raised their target price on KKR & Co. Inc. from $140.00 to $156.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Hsbc Global Res cut KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 9th. Oppenheimer lifted their price objective on KKR & Co. Inc. from $149.00 to $162.00 and gave the company an "outperform" rating in a research report on Monday, July 14th. Piper Sandler initiated coverage on KKR & Co. Inc. in a research report on Monday, June 30th. They set an "overweight" rating and a $150.00 price objective on the stock. Finally, Evercore ISI boosted their price target on KKR & Co. Inc. from $130.00 to $150.00 and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $157.73.

View Our Latest Research Report on KKR

KKR & Co. Inc. Price Performance

Shares of KKR stock traded up $2.81 on Friday, reaching $145.36. The company's stock had a trading volume of 4,014,683 shares, compared to its average volume of 5,016,040. The company has a market capitalization of $129.46 billion, a P/E ratio of 67.61, a PEG ratio of 1.59 and a beta of 1.87. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.77. KKR & Co. Inc. has a 12-month low of $86.15 and a 12-month high of $170.40. The stock's 50 day simple moving average is $133.14 and its 200-day simple moving average is $128.11.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its earnings results on Thursday, July 31st. The asset manager reported $1.18 EPS for the quarter, beating analysts' consensus estimates of $1.14 by $0.04. The business had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.81 billion. KKR & Co. Inc. had a return on equity of 6.42% and a net margin of 12.95%. During the same quarter in the prior year, the firm earned $1.09 earnings per share. As a group, equities analysts predict that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 11th will be issued a $0.185 dividend. This represents a $0.74 annualized dividend and a yield of 0.5%. This is an increase from KKR & Co. Inc.'s previous quarterly dividend of $0.18. KKR & Co. Inc.'s dividend payout ratio is currently 34.42%.

Insider Buying and Selling

In other news, Director Robert W. Scully bought 13,250 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was bought at an average price of $113.49 per share, with a total value of $1,503,742.50. Following the acquisition, the director owned 13,250 shares of the company's stock, valued at approximately $1,503,742.50. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman George R. Roberts sold 1,190,094 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $119.80, for a total transaction of $142,573,261.20. Following the completion of the transaction, the chairman directly owned 82,171,884 shares of the company's stock, valued at $9,844,191,703.20. This represents a 1.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,471,488 shares of company stock worth $501,529,092 in the last three months. Corporate insiders own 39.34% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Nuveen LLC bought a new position in shares of KKR & Co. Inc. during the 1st quarter valued at about $844,137,000. Jennison Associates LLC boosted its holdings in shares of KKR & Co. Inc. by 4,918.6% during the 1st quarter. Jennison Associates LLC now owns 4,393,841 shares of the asset manager's stock valued at $507,972,000 after purchasing an additional 4,306,290 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of KKR & Co. Inc. by 106.2% during the 4th quarter. Nuveen Asset Management LLC now owns 6,584,370 shares of the asset manager's stock valued at $973,894,000 after purchasing an additional 3,391,581 shares during the last quarter. Amundi boosted its holdings in shares of KKR & Co. Inc. by 114.2% during the 1st quarter. Amundi now owns 4,575,631 shares of the asset manager's stock valued at $528,989,000 after purchasing an additional 2,439,505 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of KKR & Co. Inc. by 14.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 19,081,760 shares of the asset manager's stock valued at $2,206,042,000 after purchasing an additional 2,391,434 shares during the last quarter. Institutional investors own 76.26% of the company's stock.

About KKR & Co. Inc.

(Get Free Report)

KKR & Co, Inc operates as an investment firm. It offers alternative asset management as well as capital markets and insurance solutions. The firm's business segments include Asset Management and Insurance Business. The Asset Management segment engages in providing private equity, real assets, credit and liquid strategies, capital markets, and principal activities.

Further Reading

Analyst Recommendations for KKR & Co. Inc. (NYSE:KKR)

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