Quantinno Capital Management LP Acquires 5,963 Shares of KKR & Co. Inc. $KKR

Quantinno Capital Management LP grew its holdings in shares of KKR & Co. Inc. (NYSE:KKR) by 2.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 231,319 shares of the asset manager’s stock after purchasing an additional 5,963 shares during the quarter. Quantinno Capital Management LP’s holdings in KKR & Co. Inc. were worth $21,397,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in KKR. Washington Trust Advisors Inc. bought a new position in KKR & Co. Inc. during the fourth quarter valued at about $27,000. Elyxium Wealth LLC bought a new stake in KKR & Co. Inc. in the fourth quarter worth about $27,000. SouthState Bank Corp boosted its stake in KKR & Co. Inc. by 185.0% in the fourth quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 148 shares during the last quarter. Garton & Associates Financial Advisors LLC purchased a new position in KKR & Co. Inc. in the fourth quarter valued at about $29,000. Finally, MV Capital Management Inc. purchased a new position in KKR & Co. Inc. in the fourth quarter valued at about $31,000. 76.26% of the stock is currently owned by institutional investors.

Key Stories Impacting KKR & Co. Inc.

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 recently issued reports on the stock. Zacks Research upgraded shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. Royal Bank Of Canada upped their price objective on KKR & Co. Inc. from $125.00 to $134.00 and gave the company an “outperform” rating in a research note on Friday. HSBC increased their price objective on KKR & Co. Inc. from $118.00 to $121.00 and gave the company a “buy” rating in a report on Monday, July 20th. TD Cowen lowered their target price on KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating on the stock in a research note on Monday, May 18th. Finally, Morgan Stanley cut their price target on KKR & Co. Inc. from $153.00 to $147.00 and set an “overweight” rating for the company in a research note on Tuesday, July 21st. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $129.75.

KKR & Co. Inc. Stock Performance

Shares of KKR stock opened at $101.69 on Friday. The stock has a market capitalization of $91.31 billion, a P/E ratio of 32.39, a PEG ratio of 0.86 and a beta of 1.79. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.70. The firm’s 50 day moving average is $95.99 and its 200 day moving average is $99.30. KKR & Co. Inc. has a 12 month low of $82.67 and a 12 month high of $152.10.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings data on Thursday, July 30th. The asset manager reported $1.63 EPS for the quarter, topping the consensus estimate of $1.43 by $0.20. KKR & Co. Inc. had a net margin of 14.41% and a return on equity of 5.89%. The company had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same period last year, the firm earned $1.18 EPS. On average, sell-side analysts anticipate that KKR & Co. Inc. will post 5.54 earnings per share for the current year.

KKR & Co. Inc. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Monday, August 10th will be issued a $0.195 dividend. This represents a $0.78 dividend on an annualized basis 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 presently 26.53%.

KKR & Co. Inc. announced that its board has initiated a share 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 repurchase up to 0.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

KKR & Co. Inc. Company 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.