Rockefeller Capital Management L.P. Increases Holdings in KKR & Co. Inc. $KKR

Rockefeller Capital Management L.P. lifted its holdings in KKR & Co. Inc. (NYSE:KKR) by 5.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 332,693 shares of the asset manager’s stock after acquiring an additional 16,872 shares during the period. Rockefeller Capital Management L.P.’s holdings in KKR & Co. Inc. were worth $42,412,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Asset Dedication LLC purchased a new stake in KKR & Co. Inc. during the third quarter valued at approximately $26,000. GGM Financials LLC purchased a new position in shares of KKR & Co. Inc. in the 3rd quarter worth approximately $27,000. Washington Trust Advisors Inc. purchased a new position in shares of KKR & Co. Inc. in the 4th quarter worth approximately $27,000. Elyxium Wealth LLC bought a new position in shares of KKR & Co. Inc. during the 4th quarter valued at approximately $27,000. Finally, SouthState Bank Corp raised its holdings in KKR & Co. Inc. by 185.0% during the 4th quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock valued at $29,000 after buying an additional 148 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Wall Street Analysts Forecast Growth

KKR has been the subject of a number of analyst reports. TD Cowen lowered their price target on KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating for the company in a research report on Monday, May 18th. Morgan Stanley reduced their target price 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. Zacks Research upgraded shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. Piper Sandler dropped their price target on shares of KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating for the company in a research note on Tuesday, April 7th. Finally, The Goldman Sachs Group dropped their price target on shares of KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned 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 price target of $134.53.

KKR & Co. Inc. Price Performance

Shares of KKR stock opened at $97.01 on Monday. KKR & Co. Inc. has a 52-week low of $82.67 and a 52-week high of $153.87. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.08 and a current ratio of 0.08. The firm has a market capitalization of $87.10 billion, a P/E ratio of 33.00, a P/E/G ratio of 0.84 and a beta of 1.80. The stock has a 50 day moving average price of $97.86 and a 200 day moving average price of $106.55.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings data on Friday, February 27th. The asset manager reported $1.24 EPS 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, sell-side analysts predict that KKR & Co. Inc. will post 5.53 earnings per share for the current year.

KKR & Co. Inc. announced that its Board of Directors has authorized a share repurchase plan on Tuesday, May 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the asset manager to reacquire up to 0.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

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 payout ratio is presently 26.53%.

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.