HSBC Forecasts Strong Price Appreciation for KKR & Co. Inc. (NYSE:KKR) Stock

KKR & Co. Inc. (NYSE:KKR) had its price target boosted by equities research analysts at HSBC from $118.00 to $121.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the asset manager’s stock. HSBC’s target price indicates a potential upside of 24.69% from the stock’s current price.

Several other analysts also recently weighed in on the stock. Weiss Ratings upgraded shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, June 16th. 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. BMO Capital Markets cut their price target on shares of KKR & Co. Inc. from $120.00 to $112.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. 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, Royal Bank Of Canada reduced their price target on shares of KKR & Co. Inc. from $128.00 to $125.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.08.

KKR & Co. Inc. Trading Up 0.1%

KKR opened at $97.04 on Monday. 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. has a one year low of $82.67 and a one year high of $153.87. The company has a market cap of $87.13 billion, a P/E ratio of 33.01, a PEG ratio of 0.82 and a beta of 1.79. The business’s 50-day simple moving average is $95.37 and its 200-day simple moving average is $100.90.

KKR & Co. Inc. (NYSE:KKR) last posted its earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. The firm 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%. As a group, equities research analysts expect that KKR & Co. Inc. will post 5.54 EPS for the current fiscal year.

KKR & Co. Inc. declared that its Board of Directors has initiated a stock 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 buy up to 0.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other KKR & Co. Inc. news, EVP Yael Cosset sold 30,000 shares of the stock in a transaction that occurred on Tuesday, July 14th. The stock was sold at an average price of $58.80, for a total transaction of $1,764,000.00. Following the completion of the sale, the executive vice president directly owned 127,868 shares of the company’s stock, valued at approximately $7,518,638.40. This trade represents a 19.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 23.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Hudson Value Partners LLC lifted its holdings in shares of KKR & Co. Inc. by 4.6% during the second quarter. Hudson Value Partners LLC now owns 9,655 shares of the asset manager’s stock worth $886,000 after purchasing an additional 425 shares during the period. Tema ETFs LLC increased its stake in KKR & Co. Inc. by 5.4% in the 2nd quarter. Tema ETFs LLC now owns 13,909 shares of the asset manager’s stock valued at $1,277,000 after buying an additional 712 shares during the period. Canvas Wealth Advisors LLC raised its position in KKR & Co. Inc. by 4.5% during the 2nd quarter. Canvas Wealth Advisors LLC now owns 4,538 shares of the asset manager’s stock worth $416,000 after buying an additional 196 shares during the last quarter. Handelsbanken Fonder AB raised its position in KKR & Co. Inc. by 22.3% during the 2nd quarter. Handelsbanken Fonder AB now owns 331,880 shares of the asset manager’s stock worth $30,460,000 after buying an additional 60,571 shares during the last quarter. Finally, Fulton Bank N.A. lifted its stake in shares of KKR & Co. Inc. by 1.1% in the 2nd quarter. Fulton Bank N.A. now owns 16,231 shares of the asset manager’s stock worth $1,490,000 after acquiring an additional 179 shares during the period. Institutional investors and hedge funds own 76.26% of the company’s stock.

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.