Element Pointe Advisors LLC Makes New $976,000 Investment in KKR & Co. Inc. $KKR

Element Pointe Advisors LLC acquired a new position in KKR & Co. Inc. (NYSE:KKR) during the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 10,635 shares of the asset manager’s stock, valued at approximately $976,000.

A number of other large investors have also recently made changes to their positions in KKR. Washington Trust Advisors Inc. bought a new position in shares of KKR & Co. Inc. during the 4th quarter valued at approximately $27,000. Elyxium Wealth LLC bought a new stake in KKR & Co. Inc. during the 4th quarter worth approximately $27,000. SouthState Bank Corp raised its stake in KKR & Co. Inc. by 185.0% during the 4th quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock worth $29,000 after acquiring an additional 148 shares during the period. Garton & Associates Financial Advisors LLC purchased a new position in KKR & Co. Inc. during the fourth quarter valued at approximately $29,000. Finally, MV Capital Management Inc. purchased a new position in KKR & Co. Inc. during the fourth quarter valued at approximately $31,000. 76.26% of the stock is owned by hedge funds and other institutional investors.

KKR & Co. Inc. Price Performance

KKR stock opened at $107.21 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.09 and a current ratio of 0.09. The company’s fifty day moving average price is $99.30 and its 200-day moving average price is $97.63. KKR & Co. Inc. has a one year low of $82.67 and a one year high of $152.10. The company has a market capitalization of $96.24 billion, a PE ratio of 34.14, a price-to-earnings-growth ratio of 0.97 and a beta of 1.78.

KKR & Co. Inc. (NYSE:KKR) last posted its earnings results on Thursday, July 30th. The asset manager reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.20. The company had revenue of $5.73 billion during the quarter, compared to analysts’ expectations of $2.55 billion. KKR & Co. Inc. had a net margin of 14.41% and a return on equity of 5.88%. During the same period last year, the company posted $1.18 earnings per share. On average, equities analysts anticipate that KKR & Co. Inc. will post 5.68 EPS for the current fiscal year.

KKR & Co. Inc. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Monday, August 10th will be given a dividend of $0.195 per share. The ex-dividend date is Monday, August 10th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.7%. KKR & Co. Inc.’s dividend payout ratio (DPR) is presently 24.84%.

KKR & Co. Inc. announced that its board has approved a share repurchase program on Tuesday, May 5th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the asset manager to repurchase up to 0.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

KKR has been the subject of a number of analyst reports. Royal Bank Of Canada increased their price objective on shares of KKR & Co. Inc. from $125.00 to $134.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Keefe, Bruyette & Woods upgraded shares of KKR & Co. Inc. to a “moderate buy” rating in a research note on Monday, July 20th. BMO Capital Markets increased their price target on KKR & Co. Inc. from $112.00 to $118.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Argus increased their price target on KKR & Co. Inc. from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Finally, Zacks Research raised KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $127.75.

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.