Cresset Asset Management LLC Boosts Stake in KKR & Co. Inc. $KKR

Cresset Asset Management LLC boosted its holdings in shares of KKR & Co. Inc. (NYSE:KKR) by 12.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,676 shares of the asset manager’s stock after acquiring an additional 4,671 shares during the period. Cresset Asset Management LLC’s holdings in KKR & Co. Inc. were worth $5,810,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Saudi Central Bank purchased a new position in KKR & Co. Inc. in the 1st quarter worth approximately $28,000. Clearstead Trust LLC acquired a new stake in shares of KKR & Co. Inc. in the second quarter valued at approximately $28,000. Pineridge Advisors LLC purchased a new position in KKR & Co. Inc. during the second quarter worth approximately $31,000. DiNuzzo Private Wealth Inc. lifted its position in KKR & Co. Inc. by 790.3% during the second quarter. DiNuzzo Private Wealth Inc. now owns 276 shares of the asset manager’s stock worth $37,000 after buying an additional 245 shares in the last quarter. Finally, SouthState Corp acquired a new position in KKR & Co. Inc. during the first quarter worth $44,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

Analyst Ratings Changes

KKR has been the subject of a number of recent research reports. BMO Capital Markets assumed coverage on KKR & Co. Inc. in a research note on Friday, October 3rd. They issued an “outperform” rating and a $148.00 target price for the company. Morgan Stanley lowered their price target on shares of KKR & Co. Inc. from $170.00 to $166.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 21st. Weiss Ratings upgraded shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Saturday, October 25th. Citigroup reduced their target price on shares of KKR & Co. Inc. from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Finally, TD Cowen decreased their target price on shares of KKR & Co. Inc. from $153.00 to $146.00 and set a “buy” rating on the stock in a report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $156.31.

KKR & Co. Inc. Trading Up 0.8%

NYSE KKR opened at $129.44 on Monday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a market capitalization of $115.38 billion, a P/E ratio of 54.85, a PEG ratio of 1.39 and a beta of 1.99. The firm’s 50-day moving average is $121.70 and its two-hundred day moving average is $131.26. KKR & Co. Inc. has a 12 month low of $86.15 and a 12 month high of $170.40.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings results on Friday, November 7th. The asset manager reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. KKR & Co. Inc. had a net margin of 13.84% and a return on equity of 6.12%. The business had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same period last year, the business earned $1.38 earnings per share. On average, sell-side analysts anticipate that KKR & Co. Inc. will post 5.19 earnings per share for the current year.

KKR & Co. Inc. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 2nd. Shareholders of record on Monday, November 17th were given a $0.185 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $0.74 dividend on an annualized basis and a yield of 0.6%. KKR & Co. Inc.’s payout ratio is presently 31.36%.

About KKR & Co. Inc.

KKR & Co, Inc operates as an investment firm. It offers alternative asset management as well as capital markets and insurance solutions. The firm’s business segments include Asset Management and Insurance Business. The Asset Management segment engages in providing private equity, real assets, credit and liquid strategies, capital markets, and principal activities.