Empowered Funds LLC Raises Holdings in KKR & Co. Inc. $KKR

Empowered Funds LLC increased its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 95.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,528 shares of the asset manager’s stock after acquiring an additional 29,991 shares during the quarter. Empowered Funds LLC’s holdings in KKR & Co. Inc. were worth $5,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of KKR & Co. Inc. by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 60,064,587 shares of the asset manager’s stock valued at $7,657,034,000 after purchasing an additional 821,739 shares during the period. Principal Financial Group Inc. increased its stake in shares of KKR & Co. Inc. by 6.9% in the first quarter. Principal Financial Group Inc. now owns 19,507,741 shares of the asset manager’s stock worth $1,804,470,000 after buying an additional 1,261,314 shares during the period. Geode Capital Management LLC increased its stake in shares of KKR & Co. Inc. by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 14,995,742 shares of the asset manager’s stock worth $1,903,220,000 after buying an additional 146,285 shares during the period. Norges Bank purchased a new position in shares of KKR & Co. Inc. in the fourth quarter worth $1,715,929,000. Finally, First Manhattan CO. LLC. raised its holdings in KKR & Co. Inc. by 0.8% during the 4th quarter. First Manhattan CO. LLC. now owns 8,597,044 shares of the asset manager’s stock valued at $1,095,951,000 after buying an additional 67,441 shares during the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

KKR & Co. Inc. Stock Performance

Shares of KKR stock opened at $101.69 on Friday. The stock has a fifty day moving average of $95.99 and a 200 day moving average of $99.30. KKR & Co. Inc. has a 52 week low of $82.67 and a 52 week high of $152.10. The firm has a market capitalization of $91.31 billion, a price-to-earnings ratio of 32.39, a PEG ratio of 0.86 and a beta of 1.79. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.70.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings results on Thursday, July 30th. The asset manager reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.20. The business had revenue of $5.73 billion for the quarter, compared to analysts’ expectations of $2.55 billion. KKR & Co. Inc. had a net margin of 14.41% and a return on equity of 5.89%. During the same quarter in the previous year, the business posted $1.18 earnings per share. As a group, research analysts expect that KKR & Co. Inc. will post 5.54 earnings per share for the current year.

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

KKR & Co. Inc. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Monday, August 10th will be given a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, August 10th. KKR & Co. Inc.’s dividend payout ratio (DPR) is currently 26.53%.

KKR & Co. Inc. News Roundup

Here are the key news stories impacting KKR & Co. Inc. this week:

• Positive Sentiment: Quarterly earnings beat expectations: KKR reported second-quarter EPS of $1.63, ahead of the $1.42–$1.43 consensus and up from $1.18 a year earlier. Revenue reached $5.73 billion versus estimates of $2.95 billion. Growth was driven by higher assets under management, management fees, transaction fees, fundraising and inflows in its asset-management and insurance businesses. KKR Q2 Earnings and Revenues Top Estimates
• Positive Sentiment: Analysts raised price targets: Royal Bank of Canada increased its target from $125 to $134 and maintained an “outperform” rating, while Barclays raised its target from $124 to $135 and assigned an “overweight” rating. The new targets imply roughly 32% upside from the referenced share price, reinforcing confidence in KKR’s earnings and growth outlook. Analyst Price Target Updates
• Neutral Sentiment: Potential Integer Holdings acquisition: Reports say KKR is nearing a deal to acquire medical-device outsourcing company Integer Holdings. The transaction could expand KKR’s healthcare investment portfolio, although its eventual valuation, financing and execution risks remain unknown. KKR Nearing Deal to Acquire Integer Holdings
• Neutral Sentiment: Dividend declared: KKR announced a quarterly dividend of $0.195 per share, payable August 25 to shareholders of record August 10. The dividend provides continued shareholder income, though its approximately 0.8% annualized yield is unlikely to be a major share-price catalyst.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group dropped 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. Weiss Ratings upgraded shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, June 16th. BMO Capital Markets lowered their price objective on shares of KKR & Co. Inc. from $120.00 to $112.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. TD Cowen dropped their target price on shares of KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating for the company in a report on Monday, May 18th. Finally, Royal Bank Of Canada raised their target price on KKR & Co. Inc. from $125.00 to $134.00 and gave the stock an “outperform” rating in a research note on Friday. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, KKR & Co. Inc. has a consensus rating of “Moderate Buy” and a consensus target price of $129.75.

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.