Cibc World Market Inc. Takes Position in KKR & Co. Inc. $KKR

Cibc World Market Inc. acquired a new position in KKR & Co. Inc. (NYSE:KKR) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 182,424 shares of the asset manager’s stock, valued at approximately $16,743,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of KKR. Vanguard Group Inc. grew its position in KKR & Co. Inc. by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 60,064,587 shares of the asset manager’s stock worth $7,657,034,000 after acquiring an additional 821,739 shares during the last quarter. Principal Financial Group Inc. lifted its position in 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 valued at $1,804,470,000 after purchasing an additional 1,261,314 shares during the last quarter. Geode Capital Management LLC lifted its position in 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 valued at $1,903,220,000 after purchasing an additional 146,285 shares during the last quarter. Norges Bank purchased a new stake in shares of KKR & Co. Inc. during the fourth quarter valued at approximately $1,715,929,000. Finally, First Manhattan CO. LLC. boosted its stake in shares of KKR & Co. Inc. by 0.8% during the fourth quarter. First Manhattan CO. LLC. now owns 8,597,044 shares of the asset manager’s stock valued at $1,095,951,000 after purchasing an additional 67,441 shares during the period. Institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Trading Down 1.1%

NYSE KKR opened at $107.29 on Tuesday. The stock has a market cap of $96.31 billion, a P/E ratio of 34.17, a price-to-earnings-growth ratio of 0.92 and a beta of 1.78. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $152.10. The stock has a 50 day simple moving average of $100.27 and a two-hundred day simple moving average of $97.53. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.09 and a current ratio of 0.09.

KKR & Co. Inc. (NYSE:KKR) last posted its earnings results on Thursday, July 30th. The asset manager reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.20. The firm had revenue of $5.73 billion for the quarter, compared to analysts’ expectations of $2.55 billion. KKR & Co. Inc. had a return on equity of 5.88% and a net margin of 14.41%.During the same period in the previous year, the firm earned $1.18 earnings per share. On average, analysts forecast that KKR & Co. Inc. will post 5.68 earnings per share for the current year.

KKR & Co. Inc. declared that its Board of Directors has approved a stock buyback program on Tuesday, May 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the asset manager to purchase up to 0.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

KKR & Co. Inc. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Monday, August 10th will be issued a $0.195 dividend. The ex-dividend date is Monday, August 10th. This represents a $0.78 annualized dividend and a yield of 0.7%. KKR & Co. Inc.’s payout ratio is 24.84%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on KKR. HSBC raised their target price on shares of KKR & Co. Inc. from $118.00 to $121.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Morgan Stanley dropped their price target on shares of KKR & Co. Inc. from $153.00 to $147.00 and set an “overweight” rating for the company in a research report on Tuesday, July 21st. Barclays raised their price target on shares of KKR & Co. Inc. from $124.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. 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. Finally, 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. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $127.75.

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.