Ally Financial Inc. Acquires Shares of 16,000 KKR & Co. Inc. $KKR

Ally Financial Inc. acquired a new stake in KKR & Co. Inc. (NYSE:KKR) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 16,000 shares of the asset manager’s stock, valued at approximately $2,040,000.

A number of other hedge funds also recently bought and sold shares of KKR. Brighton Jones LLC raised its holdings in KKR & Co. Inc. by 109.6% in the 4th quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager’s stock valued at $689,000 after acquiring an additional 2,437 shares during the last quarter. Bison Wealth LLC acquired a new stake in KKR & Co. Inc. in the 4th quarter valued at about $218,000. Sivia Capital Partners LLC raised its holdings in KKR & Co. Inc. by 13.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,050 shares of the asset manager’s stock valued at $273,000 after acquiring an additional 237 shares during the last quarter. United Bank purchased a new stake in shares of KKR & Co. Inc. in the 2nd quarter valued at approximately $769,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of KKR & Co. Inc. in the 2nd quarter valued at approximately $4,826,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

KKR & Co. Inc. Stock Performance

NYSE:KKR opened at $96.37 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.08 and a current ratio of 0.08. The stock has a market capitalization of $86.52 billion, a P/E ratio of 32.78, a PEG ratio of 0.83 and a beta of 1.79. The company has a 50 day moving average price of $97.27 and a 200 day moving average price of $107.45. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $153.87.

KKR & Co. Inc. (NYSE:KKR) last posted its quarterly earnings data on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. The firm had revenue of $5.74 billion during the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. Equities research analysts forecast that KKR & Co. Inc. will post 5.51 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors 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%. The ex-dividend date of this dividend was Friday, May 15th. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.19. KKR & Co. Inc.’s dividend payout ratio is 26.53%.

KKR & Co. Inc. declared that its board has authorized a share buyback program on Tuesday, May 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the asset manager to buy up to 0.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have recently weighed in on KKR. Piper Sandler dropped their price target on shares of KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating for the company in a research note on Tuesday, April 7th. Barclays dropped their price target on shares of KKR & Co. Inc. from $127.00 to $122.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Zacks Research raised shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. Royal Bank Of Canada dropped their price target on shares of KKR & Co. Inc. from $132.00 to $128.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. Finally, The Goldman Sachs Group dropped their price target on shares of KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.