Legal & General Group Plc Buys 80,352 Shares of KKR & Co. Inc. $KKR

Legal & General Group Plc increased its stake in KKR & Co. Inc. (NYSE:KKR) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,722,357 shares of the asset manager’s stock after purchasing an additional 80,352 shares during the period. Legal & General Group Plc’s holdings in KKR & Co. Inc. were worth $602,006,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. SteelPeak Wealth LLC increased its position in shares of KKR & Co. Inc. by 3.2% in the fourth quarter. SteelPeak Wealth LLC now owns 2,549 shares of the asset manager’s stock worth $325,000 after purchasing an additional 80 shares during the last quarter. Diversified Trust Co. increased its position in shares of KKR & Co. Inc. by 1.5% in the fourth quarter. Diversified Trust Co. now owns 5,562 shares of the asset manager’s stock worth $709,000 after purchasing an additional 82 shares during the last quarter. Modera Wealth Management LLC increased its position in shares of KKR & Co. Inc. by 4.9% in the fourth quarter. Modera Wealth Management LLC now owns 1,789 shares of the asset manager’s stock worth $228,000 after purchasing an additional 84 shares during the last quarter. Sound Income Strategies LLC increased its position in shares of KKR & Co. Inc. by 9.1% in the fourth quarter. Sound Income Strategies LLC now owns 1,084 shares of the asset manager’s stock worth $143,000 after purchasing an additional 90 shares during the last quarter. Finally, Cornerstone Advisory LLC increased its position in shares of KKR & Co. Inc. by 3.0% in the third quarter. Cornerstone Advisory LLC now owns 3,189 shares of the asset manager’s stock worth $414,000 after purchasing an additional 92 shares during the last quarter. 76.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on KKR shares. Piper Sandler decreased their price objective on shares of KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. Morgan Stanley decreased their price objective on shares of KKR & Co. Inc. from $177.00 to $153.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. Royal Bank Of Canada decreased their price objective on shares of KKR & Co. Inc. from $132.00 to $128.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 6th. The Goldman Sachs Group decreased their price objective on shares of KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Finally, UBS Group upped their target price on KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, KKR & Co. Inc. currently has an average rating of “Moderate Buy” and a consensus price target of $134.53.

Insider Transactions at KKR & Co. Inc.

In other news, Director Timothy R. Barakett bought 50,000 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was acquired at an average price of $94.47 per share, with a total value of $4,723,500.00. Following the completion of the purchase, the director directly owned 285,000 shares in the company, valued at $26,923,950. This represents a 21.28% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 23.20% of the stock is currently owned by corporate insiders.

KKR & Co. Inc. Stock Down 0.0%

Shares of KKR opened at $94.02 on Tuesday. The firm has a market cap of $84.42 billion, a P/E ratio of 31.98, a P/E/G ratio of 0.83 and a beta of 1.85. The stock has a 50 day simple moving average of $95.90 and a two-hundred day simple moving average of $109.75. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.08 and a quick ratio of 0.08. KKR & Co. Inc. has a 1 year low of $82.67 and a 1 year high of $153.87.

KKR & Co. Inc. (NYSE:KKR) last issued its earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share (EPS) for the quarter. The business had revenue of $5.74 billion during the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%. On average, analysts forecast that KKR & Co. Inc. will post 5.46 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be paid a $0.195 dividend. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.19. This represents a $0.78 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, May 15th. KKR & Co. Inc.’s payout ratio is currently 26.53%.

KKR & Co. Inc. announced that its board has authorized a share repurchase plan on Tuesday, May 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the asset manager to reacquire up to 0.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

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.