Fisher Funds Management LTD Grows Stock Position in KKR & Co. Inc. $KKR

Fisher Funds Management LTD increased its stake in KKR & Co. Inc. (NYSE:KKR) by 9.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 427,156 shares of the asset manager’s stock after acquiring an additional 36,269 shares during the period. KKR & Co. Inc. comprises about 1.2% of Fisher Funds Management LTD’s holdings, making the stock its 28th largest holding. Fisher Funds Management LTD’s holdings in KKR & Co. Inc. were worth $39,512,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Asset Dedication LLC bought a new position in KKR & Co. Inc. during the 3rd quarter worth approximately $26,000. GGM Financials LLC purchased a new position in KKR & Co. Inc. in the 3rd quarter worth approximately $27,000. Washington Trust Advisors Inc. bought a new stake in KKR & Co. Inc. in the fourth quarter valued at approximately $27,000. Elyxium Wealth LLC bought a new stake in KKR & Co. Inc. in the fourth quarter valued at approximately $27,000. Finally, SouthState Bank Corp boosted its stake in shares of KKR & Co. Inc. by 185.0% during the fourth quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 148 shares during the period. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on KKR. Morgan Stanley cut their target price on shares of KKR & Co. Inc. from $177.00 to $153.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. BMO Capital Markets decreased their target price on shares of KKR & Co. Inc. from $125.00 to $106.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 24th. Royal Bank Of Canada lowered 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 report on Wednesday, May 6th. Weiss Ratings raised shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, June 16th. Finally, UBS Group raised their price target on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $134.53.

KKR & Co. Inc. Trading Up 0.0%

KKR opened at $97.01 on Monday. The business has a 50 day simple moving average of $97.86 and a two-hundred day simple moving average of $106.55. The firm has a market capitalization of $87.10 billion, a price-to-earnings ratio of 33.00, a PEG ratio of 0.84 and a beta of 1.80. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.08 and a quick ratio of 0.08. KKR & Co. Inc. has a one year low of $82.67 and a one year high of $153.87.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings data on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. The business had revenue of $5.74 billion during the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%. Analysts predict that KKR & Co. Inc. will post 5.53 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a dividend of $0.195 per share. This is a boost from KKR & Co. Inc.’s previous quarterly dividend of $0.18. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, May 15th. KKR & Co. Inc.’s dividend payout ratio is currently 26.53%.

KKR & Co. Inc. announced that its board has authorized a stock repurchase plan on Tuesday, May 5th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to buy up to 0.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

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.