Morgan Stanley Upgrades KKR & Co. Inc. (NYSE:KKR) to Overweight

KKR & Co. Inc. (NYSE:KKR) was upgraded by research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The firm presently has a $150.00 price target on the asset manager’s stock, up from their prior price target of $120.00. Morgan Stanley’s target price indicates a potential upside of 19.60% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on KKR. Barclays increased their price target on shares of KKR & Co. Inc. from $129.00 to $141.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Hsbc Global Res raised shares of KKR & Co. Inc. from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 15th. Citigroup lowered their price target on shares of KKR & Co. Inc. from $177.00 to $132.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. JMP Securities lowered their price target on shares of KKR & Co. Inc. from $165.00 to $150.00 and set a “market outperform” rating on the stock in a report on Tuesday, April 8th. Finally, Wells Fargo & Company increased their price target on shares of KKR & Co. Inc. from $120.00 to $136.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $149.14.

KKR & Co. Inc. Price Performance

NYSE KKR opened at $125.42 on Wednesday. The company has a market cap of $111.40 billion, a PE ratio of 37.66, a price-to-earnings-growth ratio of 1.00 and a beta of 1.91. KKR & Co. Inc. has a 52 week low of $86.15 and a 52 week high of $170.40. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.82. The firm’s 50-day simple moving average is $111.94 and its two-hundred day simple moving average is $135.77.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings data on Thursday, May 1st. The asset manager reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.71 billion. KKR & Co. Inc. had a net margin of 14.31% and a return on equity of 6.20%. The company’s revenue was down 67.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.97 earnings per share. Research analysts predict that KKR & Co. Inc. will post 5.19 earnings per share for the current year.

Insider Activity at KKR & Co. Inc.

In other KKR & Co. Inc. news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $32.96, for a total transaction of $197,760,000.00. Following the transaction, the insider now directly owns 19,260,971 shares in the company, valued at $634,841,604.16. This trade represents a 23.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert W. Scully purchased 13,250 shares of KKR & Co. Inc. stock in a transaction on Tuesday, May 6th. The shares were acquired at an average price of $113.49 per share, for a total transaction of $1,503,742.50. Following the completion of the transaction, the director now directly owns 13,250 shares of the company’s stock, valued at approximately $1,503,742.50. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 39.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. McIlrath & Eck LLC bought a new position in shares of KKR & Co. Inc. in the fourth quarter worth approximately $26,000. Hanson & Doremus Investment Management bought a new position in shares of KKR & Co. Inc. in the fourth quarter worth approximately $27,000. Saudi Central Bank bought a new position in shares of KKR & Co. Inc. in the first quarter worth approximately $28,000. Crews Bank & Trust bought a new position in shares of KKR & Co. Inc. in the fourth quarter worth approximately $30,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of KKR & Co. Inc. in the fourth quarter worth approximately $31,000. 76.26% of the stock is currently owned by institutional investors.

KKR & Co. Inc. Company Profile

KKR & Co, Inc operates as an investment firm. It offers alternative asset management as well as capital markets and insurance solutions. The firm’s business segments include Asset Management and Insurance Business. The Asset Management segment engages in providing private equity, real assets, credit and liquid strategies, capital markets, and principal activities.