Covenant Asset Management LLC Purchases 27,870 Shares of KKR & Co. Inc. $KKR

Covenant Asset Management LLC raised its holdings in shares of KKR & Co. Inc. (NYSE:KKR) by 1,424.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,826 shares of the asset manager’s stock after purchasing an additional 27,870 shares during the quarter. Covenant Asset Management LLC’s holdings in KKR & Co. Inc. were worth $3,876,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of KKR. Brighton Jones LLC increased its position in shares of KKR & Co. Inc. by 109.6% during the fourth quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager’s stock worth $689,000 after acquiring an additional 2,437 shares in the last quarter. Bison Wealth LLC bought a new position in KKR & Co. Inc. in the 4th quarter valued at about $218,000. Sivia Capital Partners LLC boosted its stake in KKR & Co. Inc. by 13.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,050 shares of the asset manager’s stock valued at $273,000 after purchasing an additional 237 shares during the last quarter. Park Avenue Securities LLC increased its holdings in KKR & Co. Inc. by 7.6% during the 2nd quarter. Park Avenue Securities LLC now owns 23,198 shares of the asset manager’s stock worth $3,086,000 after purchasing an additional 1,633 shares in the last quarter. Finally, CHICAGO TRUST Co NA bought a new stake in KKR & Co. Inc. during the 2nd quarter worth approximately $204,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

KKR & Co. Inc. Price Performance

KKR opened at $124.32 on Thursday. KKR & Co. Inc. has a fifty-two week low of $86.15 and a fifty-two week high of $170.40. The firm has a 50-day moving average of $128.06 and a 200 day moving average of $132.82. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.09 and a current ratio of 0.09. The firm has a market cap of $110.81 billion, a P/E ratio of 52.68, a PEG ratio of 1.07 and a beta of 1.99.

KKR & Co. Inc. (NYSE:KKR) last released its 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 firm had revenue of $4.36 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the previous year, the company earned $1.38 earnings per share. On average, research analysts expect that KKR & Co. Inc. will post 5.19 EPS 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. This represents a $0.74 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Monday, November 17th. KKR & Co. Inc.’s dividend payout ratio (DPR) is currently 31.36%.

Wall Street Analysts Forecast Growth

KKR has been the topic of a number of recent research reports. Citigroup dropped their target price on KKR & Co. Inc. from $170.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Wall Street Zen cut KKR & Co. Inc. from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Barclays reduced their target price on shares of KKR & Co. Inc. from $169.00 to $159.00 and set an “overweight” rating for the company in a research note on Friday, January 9th. Morgan Stanley lowered their target price on shares of KKR & Co. Inc. from $170.00 to $166.00 and set an “overweight” rating for the company in a report on Tuesday, October 21st. Finally, Oppenheimer cut their price target on shares of KKR & Co. Inc. from $166.00 to $164.00 and set an “outperform” rating on the stock in a report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, KKR & Co. Inc. presently has an average rating of “Moderate Buy” and a consensus price target of $156.43.

KKR & Co. Inc. 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.