118,535 Shares in KKR & Co. Inc. $KKR Bought by Cornerstone Advisors LLC

Cornerstone Advisors LLC purchased a new stake in KKR & Co. Inc. (NYSE:KKR) during the 2nd quarter, HoldingsChannel reports. The firm purchased 118,535 shares of the asset manager’s stock, valued at approximately $10,879,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of 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 worth $7,657,034,000 after purchasing an additional 821,739 shares during the period. Principal Financial Group Inc. boosted its stake in shares of KKR & Co. Inc. by 6.9% during the 1st quarter. Principal Financial Group Inc. now owns 19,507,741 shares of the asset manager’s stock valued at $1,804,470,000 after purchasing an additional 1,261,314 shares in the last quarter. Geode Capital Management LLC increased its position in shares of KKR & Co. Inc. by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 14,995,742 shares of the asset manager’s stock valued at $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. during the fourth quarter valued at about $1,715,929,000. Finally, First Manhattan CO. LLC. raised its stake in KKR & Co. Inc. by 0.8% in the fourth quarter. First Manhattan CO. LLC. now owns 8,597,044 shares of the asset manager’s stock worth $1,095,951,000 after buying an additional 67,441 shares in the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

KKR & Co. Inc. Stock Down 4.3%

Shares of KKR & Co. Inc. stock opened at $109.08 on Tuesday. KKR & Co. Inc. has a 1 year low of $82.67 and a 1 year high of $152.10. The firm has a market cap of $97.91 billion, a price-to-earnings ratio of 34.74, a PEG ratio of 0.97 and a beta of 1.78. The company has a 50-day moving average of $99.07 and a 200 day moving average of $97.70. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.09 and a quick ratio of 0.09.

KKR & Co. Inc. (NYSE:KKR) last posted 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 5.88%. The business had revenue of $5.73 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the previous year, the firm posted $1.18 earnings per share. As a group, sell-side analysts anticipate that KKR & Co. Inc. will post 5.68 earnings per share for the current fiscal year.

KKR & Co. Inc. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Monday, August 10th will be issued a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, August 10th. KKR & Co. Inc.’s dividend payout ratio (DPR) is presently 24.84%.

KKR & Co. Inc. announced that its board has authorized a stock repurchase program on Tuesday, May 5th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to reacquire up to 0.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have commented on KKR shares. Royal Bank Of Canada raised their price objective on shares of KKR & Co. Inc. from $125.00 to $134.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. UBS Group increased their target price on KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Weiss Ratings upgraded KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, June 16th. TD Cowen raised their target price on KKR & Co. Inc. from $108.00 to $111.00 and gave the company a “hold” rating in a research note on Monday, August 3rd. Finally, Oppenheimer dropped their price target on KKR & Co. Inc. from $143.00 to $139.00 and set an “outperform” rating on the stock in a research report on Friday, July 17th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, KKR & Co. Inc. presently has a consensus rating of “Moderate Buy” and an average target price of $127.75.

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.