Y Intercept Hong Kong Ltd Trims Stock Holdings in KKR & Co. Inc. $KKR

Y Intercept Hong Kong Ltd decreased its position in KKR & Co. Inc. (NYSE:KKR) by 83.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,500 shares of the asset manager’s stock after selling 140,269 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in KKR & Co. Inc. were worth $2,636,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in KKR. Leonteq Securities AG grew its position in shares of KKR & Co. Inc. by 352.6% in the 1st quarter. Leonteq Securities AG now owns 142,747 shares of the asset manager’s stock worth $13,204,000 after buying an additional 111,211 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in KKR & Co. Inc. by 54.8% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 151,675 shares of the asset manager’s stock worth $14,030,000 after acquiring an additional 53,700 shares in the last quarter. Elevation Point Wealth Partners LLC grew its holdings in KKR & Co. Inc. by 65.9% in the first quarter. Elevation Point Wealth Partners LLC now owns 7,417 shares of the asset manager’s stock worth $686,000 after purchasing an additional 2,946 shares during the period. Platform Technology Partners grew its holdings in KKR & Co. Inc. by 32.8% in the first quarter. Platform Technology Partners now owns 4,039 shares of the asset manager’s stock worth $374,000 after purchasing an additional 997 shares during the period. Finally, Jamison Private Wealth Management Inc. increased its stake in shares of KKR & Co. Inc. by 23.1% during the first quarter. Jamison Private Wealth Management Inc. now owns 43,646 shares of the asset manager’s stock valued at $4,037,000 after purchasing an additional 8,181 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Piper Sandler dropped their price target on KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. Royal Bank Of Canada lowered their price objective on KKR & Co. Inc. from $132.00 to $128.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. The Goldman Sachs Group dropped their target price on KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Weiss Ratings raised KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, June 16th. Finally, Barclays reduced their price target 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. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $134.53.

KKR & Co. Inc. Price Performance

Shares of NYSE:KKR opened at $95.11 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.08 and a current ratio of 0.08. The firm has a market cap of $85.40 billion, a price-to-earnings ratio of 32.35, a price-to-earnings-growth ratio of 0.83 and a beta of 1.79. The business has a 50-day simple moving average of $95.99 and a two-hundred day simple moving average of $103.18. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $153.87.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings results on Friday, February 27th. The asset manager reported $1.24 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, analysts expect that KKR & Co. Inc. will post 5.51 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were paid a dividend of $0.195 per share. The ex-dividend date was Friday, May 15th. This represents a $0.78 dividend on an annualized basis and a yield of 0.8%. This is a boost from KKR & Co. Inc.’s previous quarterly dividend of $0.18. KKR & Co. Inc.’s dividend payout ratio (DPR) is presently 26.53%.

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

KKR & Co. Inc. 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.