Castle Hook Partners LP Acquires Shares of 22,303 KKR & Co. Inc. $KKR

Castle Hook Partners LP acquired a new stake in shares of KKR & Co. Inc. (NYSE:KKR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,303 shares of the asset manager’s stock, valued at approximately $2,843,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KKR. Norges Bank purchased a new stake in KKR & Co. Inc. during the fourth quarter valued at approximately $1,715,929,000. Strive Asset Management LLC bought a new position in shares of KKR & Co. Inc. during the third quarter valued at approximately $535,907,000. Viking Global Investors LP bought a new position in shares of KKR & Co. Inc. during the third quarter valued at approximately $352,038,000. Farallon Capital Management LLC bought a new position in shares of KKR & Co. Inc. during the fourth quarter valued at approximately $257,216,000. Finally, Close Asset Management Ltd grew its stake in shares of KKR & Co. Inc. by 4,155.1% during 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 buying an additional 1,479,688 shares during the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

KKR & Co. Inc. Stock Down 1.8%

Shares of NYSE:KKR opened at $97.17 on Thursday. KKR & Co. Inc. has a 52-week low of $82.67 and a 52-week high of $153.87. The stock has a market cap of $87.24 billion, a P/E ratio of 33.05, a price-to-earnings-growth ratio of 0.86 and a beta of 1.79. The business’s 50 day moving average is $97.67 and its 200 day moving average is $106.89. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.70.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings data on Friday, February 27th. The asset manager reported $1.24 earnings per share (EPS) for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%.The company had revenue of $5.74 billion for the quarter. Sell-side analysts predict that KKR & Co. Inc. will post 5.51 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a dividend of $0.195 per share. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.19. This represents a $0.78 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, May 15th. KKR & Co. Inc.’s dividend payout ratio (DPR) is currently 26.53%.

KKR & Co. Inc. announced that its board has authorized a share repurchase program 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 stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on KKR shares. The Goldman Sachs Group cut their target price on KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Weiss Ratings raised KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday. Piper Sandler cut their target price on KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. Royal Bank Of Canada cut their target price on KKR & Co. Inc. from $132.00 to $128.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 6th. Finally, Zacks Research raised KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $134.53.

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.