Evolve Private Wealth LLC Buys New Position in KKR & Co. Inc. $KKR

Evolve Private Wealth LLC bought a new stake in KKR & Co. Inc. (NYSE:KKR) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 8,264 shares of the asset manager’s stock, valued at approximately $764,000.

Other large investors also recently modified their holdings of the company. Asset Dedication LLC acquired a new stake in shares of KKR & Co. Inc. in the third quarter worth $26,000. GGM Financials LLC acquired a new position in KKR & Co. Inc. during the 3rd quarter valued at $27,000. Washington Trust Advisors Inc. bought a new stake in KKR & Co. Inc. in the 4th quarter valued at $27,000. Elyxium Wealth LLC bought a new stake in KKR & Co. Inc. in the 4th quarter valued at $27,000. Finally, SouthState Bank Corp grew its position in KKR & Co. Inc. by 185.0% in the 4th quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock worth $29,000 after purchasing an additional 148 shares during the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

KKR & Co. Inc. Stock Down 2.4%

NYSE KKR opened at $91.30 on Thursday. KKR & Co. Inc. has a 1-year low of $82.67 and a 1-year high of $153.87. The company has a market capitalization of $81.97 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 0.81 and a beta of 1.79. The stock’s 50 day moving average is $97.85 and its two-hundred day moving average is $105.87. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.70.

KKR & Co. Inc. (NYSE:KKR) last issued its earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share (EPS) 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%. Equities analysts forecast that KKR & Co. Inc. will post 5.53 earnings per share for the current fiscal year.

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 issued a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, May 15th. This is a positive change from KKR & Co. Inc.’s previous quarterly dividend of $0.18. KKR & Co. Inc.’s payout ratio is currently 26.53%.

KKR & Co. Inc. announced that its Board of Directors has authorized a stock 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 purchase up to 0.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have recently issued reports on KKR. Weiss Ratings upgraded shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, June 16th. Morgan Stanley decreased their target price on KKR & Co. Inc. from $177.00 to $153.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. Royal Bank Of Canada cut their price target on KKR & Co. Inc. from $132.00 to $128.00 and set an “outperform” rating for the company in a report on Wednesday, May 6th. UBS Group upped their price target on KKR & Co. Inc. from $113.00 to $126.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, TD Cowen decreased their price objective on KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating on the stock in a report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average 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.