Strs Ohio Lowers Holdings in KKR & Co. Inc. $KKR

Strs Ohio trimmed its holdings in KKR & Co. Inc. (NYSE:KKR) by 3.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 221,721 shares of the asset manager’s stock after selling 8,958 shares during the quarter. Strs Ohio’s holdings in KKR & Co. Inc. were worth $20,509,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in KKR. Brighton Jones LLC lifted its holdings in shares of KKR & Co. Inc. by 109.6% in the fourth quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager’s stock worth $689,000 after buying an additional 2,437 shares in the last quarter. Bison Wealth LLC purchased a new position in KKR & Co. Inc. during the fourth quarter valued at $218,000. Sivia Capital Partners LLC increased 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 KKR & Co. Inc. in the 2nd quarter worth $769,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in KKR & Co. Inc. in the 2nd quarter worth $4,826,000. 76.26% of the stock is owned by hedge funds and other institutional investors.

KKR & Co. Inc. Stock Down 0.2%

Shares of NYSE:KKR opened at $93.67 on Friday. 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. has a 12 month low of $82.67 and a 12 month high of $153.87. The company has a 50-day moving average price of $96.24 and a 200 day moving average price of $103.93. The company has a market cap of $84.10 billion, a price-to-earnings ratio of 31.86, a PEG ratio of 0.81 and a beta of 1.79.

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

KKR & Co. Inc. Increases Dividend

The business 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 is a positive change from KKR & Co. Inc.’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, May 15th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.8%. KKR & Co. Inc.’s dividend payout ratio (DPR) is presently 26.53%.

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on KKR shares. Zacks Research upgraded KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. TD Cowen decreased their target price on KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating on the stock in a research report on Monday, May 18th. Morgan Stanley cut their price target on KKR & Co. Inc. from $177.00 to $153.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. Weiss Ratings raised KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, June 16th. Finally, Barclays decreased their price objective on KKR & Co. Inc. from $127.00 to $122.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, KKR & Co. Inc. has an average rating of “Moderate Buy” and an average price target of $134.53.

About KKR & Co. Inc.

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.