Cibc World Market Inc. Raises Holdings in KKR & Co. Inc. $KKR

Cibc World Market Inc. grew its stake in KKR & Co. Inc. (NYSE:KKR) by 261.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 172,474 shares of the asset manager’s stock after purchasing an additional 124,713 shares during the period. Cibc World Market Inc.’s holdings in KKR & Co. Inc. were worth $21,987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in KKR. Asset Dedication LLC purchased a new stake in shares of KKR & Co. Inc. in the third quarter valued at approximately $26,000. GGM Financials LLC purchased a new stake in shares of KKR & Co. Inc. in the third quarter valued at approximately $27,000. Washington Trust Advisors Inc. purchased a new stake in shares of KKR & Co. Inc. in the fourth quarter valued at approximately $27,000. Elyxium Wealth LLC purchased a new stake in shares of KKR & Co. Inc. in the fourth quarter valued at approximately $27,000. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of KKR & Co. Inc. in the third quarter valued at approximately $33,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

KKR & Co. Inc. Stock Down 2.0%

KKR & Co. Inc. stock opened at $93.51 on Friday. KKR & Co. Inc. has a 1-year low of $82.67 and a 1-year high of $153.87. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.08 and a quick ratio of 0.08. The stock has a market cap of $83.96 billion, a PE ratio of 31.81, a P/E/G ratio of 0.83 and a beta of 1.79. The stock’s fifty day moving average is $96.81 and its two-hundred day moving average is $108.17.

KKR & Co. Inc. (NYSE:KKR) last posted its earnings results on Friday, February 27th. The asset manager reported $1.24 EPS for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%.The business had revenue of $5.74 billion for the quarter. On average, sell-side analysts expect that KKR & Co. Inc. will post 5.51 EPS for the current fiscal year.

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

KKR & Co. Inc. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.8%. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, May 15th. KKR & Co. Inc.’s payout ratio is presently 26.53%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on KKR. The Goldman Sachs Group lowered their price objective on KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. UBS Group increased their price objective on KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Zacks Research upgraded KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. Piper Sandler lowered their price objective on KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. Finally, Barclays lowered their price objective on KKR & Co. Inc. from $127.00 to $122.00 and set an “overweight” rating for the company in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, KKR & Co. Inc. currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.53.

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.