Heron Bay Capital Management Purchases New Stake in KKR & Co. Inc. $KKR

Heron Bay Capital Management acquired a new position in shares of KKR & Co. Inc. (NYSE:KKR) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 382,701 shares of the asset manager’s stock, valued at approximately $35,124,000. KKR & Co. Inc. comprises approximately 3.2% of Heron Bay Capital Management’s holdings, making the stock its 11th largest holding.

Several other hedge funds have also added to or reduced their stakes in KKR. Praxis Investment Management Inc. boosted its stake in KKR & Co. Inc. by 0.9% in the fourth quarter. Praxis Investment Management Inc. now owns 10,006 shares of the asset manager’s stock valued at $1,276,000 after acquiring an additional 94 shares during the last quarter. Horizon Bancorp Inc. IN increased its stake in shares of KKR & Co. Inc. by 3.8% during the 1st quarter. Horizon Bancorp Inc. IN now owns 2,622 shares of the asset manager’s stock worth $243,000 after purchasing an additional 95 shares during the last quarter. Western Pacific Wealth Management LP increased its stake in shares of KKR & Co. Inc. by 34.8% during the 1st quarter. Western Pacific Wealth Management LP now owns 387 shares of the asset manager’s stock worth $36,000 after purchasing an additional 100 shares during the last quarter. Wernau Asset Management Inc. raised its holdings in shares of KKR & Co. Inc. by 1.0% in the 1st quarter. Wernau Asset Management Inc. now owns 10,877 shares of the asset manager’s stock worth $1,006,000 after purchasing an additional 104 shares during the period. Finally, OLD National Bancorp IN raised its holdings in shares of KKR & Co. Inc. by 1.6% in the 4th quarter. OLD National Bancorp IN now owns 6,711 shares of the asset manager’s stock worth $856,000 after purchasing an additional 106 shares during the period. Institutional investors own 76.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on KKR shares. BMO Capital Markets upped their price objective on KKR & Co. Inc. from $112.00 to $118.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Argus raised their target price on KKR & Co. Inc. from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Barclays boosted their target price on KKR & Co. Inc. from $124.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. HSBC upped their price target on KKR & Co. Inc. from $118.00 to $121.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Finally, UBS Group boosted their price objective on KKR & Co. Inc. from $113.00 to $126.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $127.75.

KKR & Co. Inc. Price Performance

Shares of NYSE KKR opened at $108.59 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.09 and a current ratio of 0.09. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $152.10. The stock has a market cap of $97.47 billion, a PE ratio of 34.58, a price-to-earnings-growth ratio of 0.91 and a beta of 1.78. The stock has a fifty day moving average of $100.09 and a 200-day moving average of $97.62.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings data on Thursday, July 30th. The asset manager reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.20. KKR & Co. Inc. had a return on equity of 5.88% and a net margin of 14.41%.The business had revenue of $5.73 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter in the prior year, the firm posted $1.18 EPS. Equities research analysts anticipate that KKR & Co. Inc. will post 5.68 earnings per share for the current year.

KKR & Co. Inc. Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 0.7%. KKR & Co. Inc.’s dividend payout ratio is currently 24.84%.

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

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.