TIAA Trust National Association Cuts Stake in KKR & Co. Inc. $KKR

TIAA Trust National Association cut its stake in KKR & Co. Inc. (NYSE:KKR) by 77.0% during the 4th quarter, HoldingsChannel reports. The firm owned 49,645 shares of the asset manager’s stock after selling 166,320 shares during the quarter. TIAA Trust National Association’s holdings in KKR & Co. Inc. were worth $6,329,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in KKR. Norges Bank purchased a new position in KKR & Co. Inc. in the fourth quarter valued at about $1,715,929,000. Strive Asset Management LLC purchased a new position in KKR & Co. Inc. in the third quarter valued at about $535,907,000. Viking Global Investors LP purchased a new position in KKR & Co. Inc. in the third quarter valued at about $352,038,000. Close Asset Management Ltd raised its position in KKR & Co. Inc. by 4,155.1% in the third quarter. Close Asset Management Ltd now owns 1,515,299 shares of the asset manager’s stock valued at $196,845,000 after purchasing an additional 1,479,688 shares during the period. Finally, Vanguard Group Inc. raised its position in KKR & Co. Inc. by 1.4% in 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. 76.26% of the stock is owned by hedge funds and other institutional investors.

KKR & Co. Inc. Stock Up 2.6%

Shares of KKR & Co. Inc. stock opened at $95.67 on Wednesday. The business has a 50-day moving average of $97.02 and a 200-day moving average of $107.83. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.08 and a quick ratio of 0.08. The company has a market capitalization of $85.89 billion, a PE ratio of 32.54, a P/E/G ratio of 0.81 and a beta of 1.79. 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 announced its earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. The company 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%. As a group, equities analysts forecast that KKR & Co. Inc. will post 5.51 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were paid a dividend of $0.195 per share. This is a boost from KKR & Co. Inc.’s previous quarterly dividend of $0.19. This represents a $0.78 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, May 15th. KKR & Co. Inc.’s payout ratio is 26.53%.

KKR & Co. Inc. announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the asset manager to purchase 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.

Analyst Upgrades and Downgrades

Several research firms have commented on KKR. The Goldman Sachs Group cut their price objective on 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. BMO Capital Markets cut their price objective on KKR & Co. Inc. from $125.00 to $106.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 24th. Weiss Ratings lowered KKR & Co. Inc. from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, May 21st. Barclays cut their price objective on KKR & Co. Inc. from $127.00 to $122.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. Finally, Zacks Research upgraded KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $134.53.

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.