IFC Advisors LLC Purchases 55,035 Shares of KKR & Co. Inc. $KKR

IFC Advisors LLC lifted its position in shares of KKR & Co. Inc. (NYSE:KKR) by 378.7% during the 1st quarter, HoldingsChannel reports. The fund owned 69,569 shares of the asset manager’s stock after purchasing an additional 55,035 shares during the period. KKR & Co. Inc. comprises approximately 0.9% of IFC Advisors LLC’s portfolio, making the stock its 20th largest holding. IFC Advisors LLC’s holdings in KKR & Co. Inc. were worth $6,435,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in KKR & Co. Inc. in the 4th quarter worth about $1,715,929,000. Viking Global Investors LP acquired a new stake in shares of KKR & Co. Inc. during the third quarter valued at about $352,038,000. Farallon Capital Management LLC bought a new stake in shares of KKR & Co. Inc. during the fourth quarter worth about $257,216,000. Price T Rowe Associates Inc. MD grew its holdings in shares of KKR & Co. Inc. by 41.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,401,951 shares of the asset manager’s stock worth $561,161,000 after purchasing an additional 1,295,099 shares during the last quarter. Finally, Temasek Holdings Private Ltd grew its holdings in shares of KKR & Co. Inc. by 344.4% during the fourth quarter. Temasek Holdings Private Ltd now owns 1,332,549 shares of the asset manager’s stock worth $169,873,000 after purchasing an additional 1,032,705 shares during the last quarter. Institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Stock Performance

NYSE:KKR opened at $96.95 on Monday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.08 and a current ratio of 0.08. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $153.87. The company has a 50 day simple moving average of $95.69 and a two-hundred day simple moving average of $102.42. The company has a market capitalization of $87.05 billion, a PE ratio of 32.98, a P/E/G ratio of 0.82 and a beta of 1.79.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings results 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 for the quarter. Research analysts anticipate that KKR & Co. Inc. will post 5.55 earnings per share for the current year.

KKR & Co. Inc. announced that its Board of Directors has authorized a share 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 purchase up to 0.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

KKR & Co. Inc. Increases Dividend

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on KKR. Piper Sandler dropped their price objective on shares of KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. UBS Group boosted their target price on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. The Goldman Sachs Group decreased their price target on shares of KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Zacks Research raised shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. Finally, Weiss Ratings raised shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $131.85.

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.