Morgan Stanley Has Lowered Expectations for KKR & Co. Inc. (NYSE:KKR) Stock Price

KKR & Co. Inc. (NYSE:KKR) had its price objective dropped by equities researchers at Morgan Stanley from $153.00 to $147.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the asset manager’s stock. Morgan Stanley’s price objective would suggest a potential upside of 53.67% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. UBS Group increased their price objective on KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. BMO Capital Markets reduced their target price on KKR & Co. Inc. from $120.00 to $112.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. Weiss Ratings upgraded KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, June 16th. HSBC lifted their price target on KKR & Co. Inc. from $118.00 to $121.00 and gave the company a “buy” rating in a research report on Monday. Finally, Oppenheimer decreased their price objective on shares of KKR & Co. Inc. from $143.00 to $139.00 and set an “outperform” rating on the stock in a research report on Friday, July 17th. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, KKR & Co. Inc. currently has a consensus rating of “Moderate Buy” and an average price target of $128.08.

KKR & Co. Inc. Stock Performance

KKR & Co. Inc. stock opened at $95.66 on Tuesday. KKR & Co. Inc. has a 1-year low of $82.67 and a 1-year high of $153.87. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $85.89 billion, a PE ratio of 32.54, a price-to-earnings-growth ratio of 0.82 and a beta of 1.79. The firm’s 50 day simple moving average is $95.33 and its 200 day simple moving average is $100.68.

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

KKR & Co. Inc. declared that its Board of Directors has authorized a share buyback plan on Tuesday, May 5th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the asset manager to repurchase up to 0.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Washington Trust Advisors Inc. purchased a new position in KKR & Co. Inc. in the 4th quarter worth approximately $27,000. Elyxium Wealth LLC purchased a new stake in KKR & Co. Inc. in the 4th quarter worth approximately $27,000. SouthState Bank Corp grew its position in shares of 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 buying an additional 148 shares during the last quarter. Garton & Associates Financial Advisors LLC bought a new stake in shares of KKR & Co. Inc. in the 4th quarter worth approximately $29,000. Finally, MV Capital Management Inc. purchased a new position in shares of KKR & Co. Inc. during the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

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.