OP Asset Management Ltd Invests $5.87 Million in KKR & Co. Inc. $KKR

OP Asset Management Ltd purchased a new stake in KKR & Co. Inc. (NYSE:KKR) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 63,470 shares of the asset manager’s stock, valued at approximately $5,871,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. SteelPeak Wealth LLC increased its stake in shares of KKR & Co. Inc. by 3.2% in the 4th quarter. SteelPeak Wealth LLC now owns 2,549 shares of the asset manager’s stock worth $325,000 after acquiring an additional 80 shares during the last quarter. Diversified Trust Co. boosted its position in shares of KKR & Co. Inc. by 1.5% during the 4th quarter. Diversified Trust Co. now owns 5,562 shares of the asset manager’s stock valued at $709,000 after acquiring an additional 82 shares during the last quarter. Modera Wealth Management LLC grew its holdings 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 valued at $228,000 after purchasing an additional 84 shares during the period. Sound Income Strategies LLC increased its position in KKR & Co. Inc. by 9.1% during 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, Praxis Investment Management Inc. raised its stake in KKR & Co. Inc. by 0.9% during the fourth quarter. Praxis Investment Management Inc. now owns 10,006 shares of the asset manager’s stock worth $1,276,000 after purchasing an additional 94 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Stock Up 1.3%

Shares of NYSE KKR opened at $92.67 on Friday. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.70. The business’s 50 day moving average is $97.70 and its two-hundred day moving average is $105.61. KKR & Co. Inc. has a 52-week low of $82.67 and a 52-week high of $153.87. The firm has a market cap of $83.20 billion, a price-to-earnings ratio of 31.52, a PEG ratio of 0.79 and a beta of 1.79.

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

KKR & Co. Inc. announced that its Board of Directors has initiated a stock buyback program on Tuesday, May 5th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the asset manager to buy up to 0.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

KKR & Co. Inc. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a $0.195 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.78 annualized dividend and a yield of 0.8%. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.18. KKR & Co. Inc.’s dividend payout ratio is presently 26.53%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. BMO Capital Markets dropped their price target on shares of KKR & Co. Inc. from $125.00 to $106.00 and set an “outperform” rating for the company in a research note on Tuesday, March 24th. Barclays decreased their price objective on KKR & Co. Inc. from $127.00 to $122.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Royal Bank Of Canada cut their target price on KKR & Co. Inc. from $132.00 to $128.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. The Goldman Sachs Group reduced their target price 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. 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 equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $134.53.

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.