KKR & Co. Inc. $KKR Shares Purchased by Allstate Corp

Allstate Corp boosted its stake in KKR & Co. Inc. (NYSE:KKR) by 104.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 47,469 shares of the asset manager’s stock after purchasing an additional 24,203 shares during the quarter. Allstate Corp’s holdings in KKR & Co. Inc. were worth $6,051,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Annis Gardner Whiting Capital Advisors LLC lifted its position in shares of KKR & Co. Inc. by 218.8% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 408 shares of the asset manager’s stock valued at $52,000 after acquiring an additional 280 shares in the last quarter. Fisher Asset Management LLC boosted its stake in KKR & Co. Inc. by 23.0% during the 4th quarter. Fisher Asset Management LLC now owns 2,447 shares of the asset manager’s stock worth $312,000 after purchasing an additional 457 shares during the last quarter. FFT Wealth Management LLC boosted its stake in KKR & Co. Inc. by 15.7% during the 4th quarter. FFT Wealth Management LLC now owns 2,146 shares of the asset manager’s stock worth $274,000 after purchasing an additional 291 shares during the last quarter. CYBER HORNET ETFs LLC boosted its stake in KKR & Co. Inc. by 6.0% during the 4th quarter. CYBER HORNET ETFs LLC now owns 1,952 shares of the asset manager’s stock worth $249,000 after purchasing an additional 111 shares during the last quarter. Finally, Clearstead Advisors LLC boosted its stake in KKR & Co. Inc. by 12.9% during the 4th quarter. Clearstead Advisors LLC now owns 18,985 shares of the asset manager’s stock worth $2,420,000 after purchasing an additional 2,166 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

KKR & Co. Inc. Stock Up 1.0%

NYSE KKR opened at $95.00 on Wednesday. The firm has a market cap of $85.30 billion, a PE ratio of 32.31, a P/E/G ratio of 0.82 and a beta of 1.85. KKR & Co. Inc. has a 52 week low of $82.67 and a 52 week high of $153.87. The business’s fifty day simple moving average is $96.08 and its 200-day simple moving average is $109.58. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.70.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings data on Friday, February 27th. The asset manager reported $1.24 earnings per share (EPS) for the quarter. The firm had revenue of $5.74 billion for the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. As a group, equities analysts anticipate that KKR & Co. Inc. will post 5.46 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be issued a $0.195 dividend. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, May 15th. This represents a $0.78 annualized dividend and a yield of 0.8%. KKR & Co. Inc.’s payout ratio is presently 26.53%.

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

Analyst Ratings Changes

KKR has been the topic of several recent research reports. TD Cowen lowered their target price on shares of KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating on the stock in a research note on Monday, May 18th. HSBC raised shares of KKR & Co. Inc. from a “hold” rating to a “buy” rating and set a $144.00 target price on the stock in a research note on Wednesday, January 28th. Royal Bank Of Canada lowered their target price on shares of KKR & Co. Inc. from $132.00 to $128.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 6th. Morgan Stanley reduced their price target on KKR & Co. Inc. from $177.00 to $153.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. Finally, Zacks Research lowered KKR & Co. Inc. from a “hold” rating to a “strong sell” rating in a report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, KKR & Co. Inc. currently has an average rating of “Moderate Buy” and a consensus target price of $134.53.

Insider Transactions at KKR & Co. Inc.

In related news, Director Timothy R. Barakett acquired 50,000 shares of KKR & Co. Inc. stock in a transaction that occurred on Wednesday, March 4th. The shares were purchased at an average cost of $94.47 per share, for a total transaction of $4,723,500.00. Following the acquisition, the director owned 285,000 shares in the company, valued at approximately $26,923,950. This represents a 21.28% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 23.20% of the company’s stock.

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.