Zacks Investment Research upgraded shares of KKR & Co Inc (NYSE:KKR) from a hold rating to a buy rating in a research report report published on Wednesday, Zacks.com reports. Zacks Investment Research currently has $28.00 price target on the asset manager’s stock.
According to Zacks, “KKR & Co. Inc. operates as an investment firm. The Company manages investments such as private equity, energy, infrastructure, real estate, credit strategies and hedge funds. KKR & Co. Inc., formerly known as KKR & Co. L.P., is based in New York. “
Several other analysts also recently commented on KKR. Credit Suisse Group downgraded KKR & Co Inc from an outperform rating to a neutral rating and set a $29.00 target price for the company. in a research note on Tuesday, May 21st. Citigroup set a $34.00 target price on KKR & Co Inc and gave the company a buy rating in a research note on Friday, July 26th. ValuEngine downgraded KKR & Co Inc from a buy rating to a hold rating in a research note on Thursday, August 8th. Finally, Barclays assumed coverage on KKR & Co Inc in a research note on Monday, August 5th. They issued an equal weight rating and a $29.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $28.81.
KKR & Co Inc (NYSE:KKR) last issued its earnings results on Thursday, July 25th. The asset manager reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.05. The firm had revenue of $528.00 million during the quarter, compared to analyst estimates of $445.34 million. The business’s quarterly revenue was up 32.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 earnings per share. Analysts expect that KKR & Co Inc will post 1.71 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Monday, August 5th were paid a dividend of $0.125 per share. The ex-dividend date was Friday, August 2nd. This represents a $0.50 dividend on an annualized basis and a yield of 1.96%. KKR & Co Inc’s dividend payout ratio (DPR) is currently 25.91%.
In other KKR & Co Inc news, major shareholder Fund Holdings L.P. Kkr sold 9,149,908 shares of KKR & Co Inc stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $30.52, for a total transaction of $279,255,192.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel David Sorkin sold 100,000 shares of KKR & Co Inc stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $26.19, for a total value of $2,619,000.00. Following the transaction, the general counsel now owns 73,528 shares of the company’s stock, valued at approximately $1,925,698.32. The disclosure for this sale can be found here. 39.34% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Captrust Financial Advisors boosted its stake in shares of KKR & Co Inc by 53.3% in the 2nd quarter. Captrust Financial Advisors now owns 1,401 shares of the asset manager’s stock worth $35,000 after buying an additional 487 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of KKR & Co Inc by 29.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,212 shares of the asset manager’s stock worth $52,000 after buying an additional 497 shares during the last quarter. ETF Managers Group LLC boosted its stake in shares of KKR & Co Inc by 9.4% in the 1st quarter. ETF Managers Group LLC now owns 7,144 shares of the asset manager’s stock worth $168,000 after buying an additional 612 shares during the last quarter. SOL Capital Management CO boosted its stake in shares of KKR & Co Inc by 0.4% in the 1st quarter. SOL Capital Management CO now owns 165,475 shares of the asset manager’s stock worth $3,887,000 after buying an additional 700 shares during the last quarter. Finally, IFM Investors Pty Ltd boosted its stake in shares of KKR & Co Inc by 2.3% in the 2nd quarter. IFM Investors Pty Ltd now owns 32,230 shares of the asset manager’s stock worth $814,000 after buying an additional 728 shares during the last quarter. Institutional investors and hedge funds own 77.36% of the company’s stock.
About KKR & Co Inc
KKR & Co L.P. is a private equity and real estate investment firm specializing in direct and fund of fund investments. It specializes in acquisitions, leveraged buyouts, management buyouts, credit special situations, growth equity, mature, mezzanine, distressed, turnaround, lower middle market and middle market investments.
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