Adell Harriman & Carpenter Inc. Decreases Stake in KKR & Co. Inc. $KKR

Adell Harriman & Carpenter Inc. lessened its position in shares of KKR & Co. Inc. (NYSE:KKR) by 2.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 264,552 shares of the asset manager’s stock after selling 5,314 shares during the period. KKR & Co. Inc. comprises 1.5% of Adell Harriman & Carpenter Inc.’s investment portfolio, making the stock its 20th biggest holding. Adell Harriman & Carpenter Inc.’s holdings in KKR & Co. Inc. were worth $24,471,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of KKR. Checchi Capital Advisers LLC boosted its position in shares of KKR & Co. Inc. by 5.0% during the 1st quarter. Checchi Capital Advisers LLC now owns 19,744 shares of the asset manager’s stock worth $1,826,000 after acquiring an additional 932 shares in the last quarter. Avantax Planning Partners Inc. increased its holdings in shares of KKR & Co. Inc. by 35.0% in the 1st quarter. Avantax Planning Partners Inc. now owns 2,700 shares of the asset manager’s stock valued at $250,000 after acquiring an additional 700 shares during the last quarter. Bleakley Financial Group LLC raised its position in shares of KKR & Co. Inc. by 9.1% during the 1st quarter. Bleakley Financial Group LLC now owns 30,823 shares of the asset manager’s stock worth $2,851,000 after acquiring an additional 2,562 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of KKR & Co. Inc. by 6.9% during the 1st quarter. Principal Financial Group Inc. now owns 19,507,741 shares of the asset manager’s stock worth $1,804,470,000 after acquiring an additional 1,261,314 shares in the last quarter. Finally, IFC Advisors LLC lifted its stake in KKR & Co. Inc. by 378.7% during the first quarter. IFC Advisors LLC now owns 69,569 shares of the asset manager’s stock worth $6,435,000 after purchasing an additional 55,035 shares during the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KKR has been the topic of a number of research analyst reports. Royal Bank Of Canada cut their price objective on shares of KKR & Co. Inc. from $128.00 to $125.00 and set an “outperform” rating on the stock in a report on Monday. TD Cowen lowered their target price on shares of KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating for the company in a report on Monday, May 18th. Piper Sandler dropped their target price on shares of KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. Morgan Stanley cut their price target on shares of KKR & Co. Inc. from $177.00 to $153.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $130.58.

KKR & Co. Inc. Stock Up 0.3%

KKR & Co. Inc. stock opened at $97.19 on Wednesday. KKR & Co. Inc. has a twelve month low of $82.67 and a twelve month high of $153.87. The stock has a 50 day moving average of $95.45 and a two-hundred day moving average of $101.95. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $87.26 billion, a price-to-earnings ratio of 33.06, a PEG ratio of 0.82 and a beta of 1.79.

KKR & Co. Inc. (NYSE:KKR) last released its earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share (EPS) for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%.The business had revenue of $5.74 billion for the quarter. As a group, research analysts expect that KKR & Co. Inc. will post 5.55 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given 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 yield of 0.8%. KKR & Co. Inc.’s payout ratio is 26.53%.

KKR & Co. Inc. declared that its Board of Directors has approved a share buyback program on Tuesday, May 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the asset manager to buy up to 0.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are 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.