Algebris UK Ltd. Acquires New Position in KKR & Co. Inc. $KKR

Algebris UK Ltd. acquired a new stake in KKR & Co. Inc. (NYSE:KKR) during the fourth quarter, Holdings Channel reports. The firm acquired 157,103 shares of the asset manager’s stock, valued at approximately $20,037,000. KKR & Co. Inc. comprises 1.0% of Algebris UK Ltd.’s holdings, making the stock its 29th biggest holding.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KKR. Strive Asset Management LLC bought a new stake in KKR & Co. Inc. in the 3rd quarter valued at about $535,907,000. Viking Global Investors LP bought a new stake in KKR & Co. Inc. in the 3rd quarter valued at about $352,038,000. Close Asset Management Ltd raised its stake in KKR & Co. Inc. by 4,155.1% in the 3rd quarter. Close Asset Management Ltd now owns 1,515,299 shares of the asset manager’s stock valued at $196,845,000 after acquiring an additional 1,479,688 shares during the period. Vanguard Group Inc. raised its stake in KKR & Co. Inc. by 1.4% in 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. Finally, M&T Bank Corp raised its stake in KKR & Co. Inc. by 3,981.9% in the 4th quarter. M&T Bank Corp now owns 718,536 shares of the asset manager’s stock valued at $91,599,000 after acquiring an additional 700,933 shares during the period. 76.26% of the stock is currently owned by institutional investors.

Insider Activity at KKR & Co. Inc.

In other KKR & Co. Inc. news, Director Timothy R. Barakett acquired 50,000 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was bought at an average price of $94.47 per share, with a total value of $4,723,500.00. Following the completion of the acquisition, the director owned 285,000 shares of the company’s stock, valued at $26,923,950. This trade represents a 21.28% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 23.20% of the company’s stock.

KKR & Co. Inc. Stock Up 1.6%

KKR stock opened at $94.37 on Thursday. KKR & Co. Inc. has a twelve month low of $82.67 and a twelve month high of $153.87. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $84.73 billion, a PE ratio of 32.10, a PEG ratio of 0.82 and a beta of 1.85. The stock has a 50-day simple moving average of $95.46 and a two-hundred day simple moving average of $110.25.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings data on Friday, February 27th. The asset manager reported $1.24 EPS for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%.The company had revenue of $5.74 billion during the quarter. On average, equities analysts predict that KKR & Co. Inc. will post 5.46 EPS for the current fiscal year.

KKR & Co. Inc. declared that its Board of Directors has approved a stock buyback program on Tuesday, May 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the asset manager to reacquire up to 0.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

KKR & Co. Inc. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.195 per share. The ex-dividend date of this dividend is Friday, May 15th. This is a positive change from KKR & Co. Inc.’s previous quarterly dividend of $0.19. This represents a $0.78 annualized dividend and a dividend yield of 0.8%. KKR & Co. Inc.’s payout ratio is presently 26.53%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on KKR shares. Royal Bank Of Canada reduced their target price on KKR & Co. Inc. from $132.00 to $128.00 and set an “outperform” rating for the company in a report on Wednesday, May 6th. Barclays reduced their target price on KKR & Co. Inc. from $127.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. BMO Capital Markets reduced their target price on KKR & Co. Inc. from $125.00 to $106.00 and set an “outperform” rating for the company in a report on Tuesday, March 24th. TD Cowen reduced their target price on KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating for the company in a report on Monday. Finally, The Goldman Sachs Group reduced their target price on KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $134.53.

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.