Grange Capital LLC Raises Stock Holdings in KKR & Co. Inc. $KKR

Grange Capital LLC boosted its position in shares of KKR & Co. Inc. (NYSE:KKR) by 93.7% in the first quarter, HoldingsChannel.com reports. The fund owned 28,946 shares of the asset manager’s stock after acquiring an additional 14,003 shares during the quarter. KKR & Co. Inc. comprises about 2.7% of Grange Capital LLC’s portfolio, making the stock its 15th largest holding. Grange Capital LLC’s holdings in KKR & Co. Inc. were worth $2,678,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of KKR & Co. Inc. by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 60,064,587 shares of the asset manager’s stock worth $7,657,034,000 after purchasing an additional 821,739 shares during the last quarter. Geode Capital Management LLC increased its holdings in KKR & Co. Inc. by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 14,995,742 shares of the asset manager’s stock worth $1,903,220,000 after buying an additional 146,285 shares during the period. Norges Bank acquired a new position in KKR & Co. Inc. in the 4th quarter worth approximately $1,715,929,000. First Manhattan CO. LLC. raised its position in KKR & Co. Inc. by 0.8% during the 4th quarter. First Manhattan CO. LLC. now owns 8,597,044 shares of the asset manager’s stock worth $1,095,951,000 after buying an additional 67,441 shares during the last quarter. Finally, Capital Research Global Investors raised its position in KKR & Co. Inc. by 0.4% during the 4th quarter. Capital Research Global Investors now owns 5,602,262 shares of the asset manager’s stock worth $714,195,000 after buying an additional 23,483 shares during the last quarter. 76.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Piper Sandler dropped their price objective on shares of KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. Zacks Research upgraded shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. TD Cowen lowered their price target on shares of KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating on the stock in a report on Monday, May 18th. Oppenheimer cut their price target on KKR & Co. Inc. from $187.00 to $140.00 and set an “outperform” rating on the stock in a research report on Monday, April 13th. Finally, Barclays decreased their price objective on KKR & Co. Inc. from $127.00 to $122.00 and set an “overweight” rating for the company 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $134.53.

KKR & Co. Inc. Price Performance

KKR & Co. Inc. stock opened at $95.96 on Tuesday. The company’s fifty day moving average price is $96.12 and its 200 day moving average price is $103.44. KKR & Co. Inc. has a 1 year low of $82.67 and a 1 year high of $153.87. The stock has a market capitalization of $86.16 billion, a P/E ratio of 32.64, a P/E/G ratio of 0.81 and a beta of 1.79. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.08 and a current ratio of 0.08.

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 company 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%. As a group, equities research analysts anticipate that KKR & Co. Inc. will post 5.51 earnings per share for the current fiscal 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 paid a dividend of $0.195 per share. This is an increase 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 of this dividend was Friday, May 15th. KKR & Co. Inc.’s dividend payout ratio is presently 26.53%.

KKR & Co. Inc. declared that its Board of Directors has authorized a share buyback 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 repurchase up to 0.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.