BI Asset Management Fondsmaeglerselskab A S Reduces Position in KKR & Co. Inc. $KKR

BI Asset Management Fondsmaeglerselskab A S lessened its holdings in shares of KKR & Co. Inc. (NYSE:KKR) by 89.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,254 shares of the asset manager’s stock after selling 268,410 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in KKR & Co. Inc. were worth $2,798,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of KKR. Asset Dedication LLC bought a new position in shares of KKR & Co. Inc. in the third quarter worth $26,000. GGM Financials LLC purchased a new position in shares of KKR & Co. Inc. in the third quarter valued at $27,000. Washington Trust Advisors Inc. bought a new stake in shares of KKR & Co. Inc. during the 4th quarter valued at $27,000. Elyxium Wealth LLC bought a new stake in shares of KKR & Co. Inc. during the 4th quarter valued at $27,000. Finally, SouthState Bank Corp raised its stake in shares of 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 purchasing an additional 148 shares during the period. Institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Price Performance

Shares of NYSE:KKR opened at $93.66 on Wednesday. The company’s fifty day moving average price is $97.99 and its 200-day moving average price is $106.13. The firm has a market capitalization of $84.09 billion, a price-to-earnings ratio of 31.86, a PEG ratio of 0.84 and a beta of 1.79. KKR & Co. Inc. has a one year low of $82.67 and a one year high of $153.87. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.08 and a quick 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. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. The firm had revenue of $5.74 billion for the quarter. On average, equities research analysts anticipate that KKR & Co. Inc. will post 5.53 earnings per share for the current fiscal year.

KKR & Co. Inc. announced that its Board of Directors has initiated a stock 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 reacquire up to 0.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

KKR & Co. Inc. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a $0.195 dividend. This is a boost from KKR & Co. Inc.’s previous quarterly dividend of $0.18. This represents a $0.78 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, May 15th. KKR & Co. Inc.’s payout ratio is currently 26.53%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on KKR shares. Piper Sandler cut their target price on 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. Zacks Research upgraded KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. Royal Bank Of Canada lowered their price target on shares of KKR & Co. Inc. from $132.00 to $128.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. Barclays cut their price objective on shares of KKR & Co. Inc. from $127.00 to $122.00 and set an “overweight” rating for the company in a research report on Wednesday, May 6th. Finally, TD Cowen reduced their price objective on shares of KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating for the company in a research note on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $134.53.

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.