SG Americas Securities LLC Decreases Position in KKR & Co. Inc. $KKR

SG Americas Securities LLC decreased its position in KKR & Co. Inc. (NYSE:KKR) by 27.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 231,453 shares of the asset manager’s stock after selling 86,078 shares during the period. SG Americas Securities LLC’s holdings in KKR & Co. Inc. were worth $21,409,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Evolve Private Wealth LLC acquired a new position in shares of KKR & Co. Inc. during the 1st quarter worth $764,000. Fisher Funds Management LTD grew its stake in KKR & Co. Inc. by 9.3% in the 1st quarter. Fisher Funds Management LTD now owns 427,156 shares of the asset manager’s stock valued at $39,512,000 after acquiring an additional 36,269 shares during the last quarter. Guardian Investment Management grew its stake in KKR & Co. Inc. by 34.1% in the 1st quarter. Guardian Investment Management now owns 14,584 shares of the asset manager’s stock valued at $1,463,000 after acquiring an additional 3,706 shares during the last quarter. Genesis Private Wealth LLC increased its holdings in KKR & Co. Inc. by 9.8% during the 1st quarter. Genesis Private Wealth LLC now owns 3,443 shares of the asset manager’s stock valued at $318,000 after acquiring an additional 307 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV purchased a new position in KKR & Co. Inc. during the 1st quarter valued at about $313,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Wall Street Analysts Forecast Growth

KKR has been the topic of several recent research reports. Piper Sandler reduced their price target on shares of KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. Barclays dropped their price objective on shares of KKR & Co. Inc. from $127.00 to $122.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Weiss Ratings raised KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, June 16th. UBS Group increased their target price on KKR & Co. Inc. from $113.00 to $126.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Zacks Research raised KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $134.53.

KKR & Co. Inc. Price Performance

NYSE:KKR opened at $91.30 on Thursday. KKR & Co. Inc. has a 12-month low of $82.67 and a 12-month high of $153.87. The firm has a market cap of $81.97 billion, a price-to-earnings ratio of 31.05, a price-to-earnings-growth ratio of 0.81 and a beta of 1.79. The company’s 50-day moving average is $97.85 and its two-hundred day moving average is $105.87. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.70.

KKR & Co. Inc. (NYSE:KKR) last posted its quarterly earnings data on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. The business had revenue of $5.74 billion during the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. Research analysts expect that KKR & Co. Inc. will post 5.53 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a $0.195 dividend. This is a boost from KKR & Co. Inc.’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, May 15th. This represents a $0.78 annualized dividend and a yield of 0.9%. KKR & Co. Inc.’s payout ratio is presently 26.53%.

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

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.