TD Cowen Has Lowered Expectations for KKR & Co. Inc. (NYSE:KKR) Stock Price

KKR & Co. Inc. (NYSE:KKR) had its price target cut by research analysts at TD Cowen from $106.00 to $104.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the asset manager’s stock. TD Cowen’s target price suggests a potential upside of 7.38% from the company’s previous close.

A number of other equities analysts have also recently commented on KKR. Royal Bank Of Canada cut their target price 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. HSBC raised shares of KKR & Co. Inc. from a “hold” rating to a “buy” rating and set a $144.00 target price on the stock in a report on Wednesday, January 28th. Morgan Stanley cut 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 report on Tuesday, April 21st. Barclays dropped their price objective on shares of KKR & Co. Inc. from $127.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. Finally, Piper Sandler dropped their price objective on shares of KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.53.

KKR & Co. Inc. Stock Performance

Shares of KKR & Co. Inc. stock traded down $0.12 during trading on Monday, reaching $96.85. The company’s stock had a trading volume of 697,590 shares, compared to its average volume of 6,732,190. The company has a 50-day moving average price of $95.35 and a two-hundred day moving average price of $110.77. The firm has a market cap of $86.96 billion, a PE ratio of 33.07, a P/E/G ratio of 0.86 and a beta of 1.85. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week 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.

KKR & Co. Inc. (NYSE:KKR) last announced its earnings results on Friday, February 27th. The asset manager reported $1.24 EPS for the quarter. The business had revenue of $5.74 billion for the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. On average, analysts forecast that KKR & Co. Inc. will post 5.46 EPS for the current year.

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

Insider Activity

In other news, Director Matt Cohler acquired 43,872 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were bought at an average cost of $102.90 per share, with a total value of $4,514,428.80. Following the purchase, the director owned 45,477 shares of the company’s stock, valued at $4,679,583.30. This represents a 2,733.46% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph Y. Bae acquired 125,000 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was purchased at an average cost of $102.19 per share, for a total transaction of $12,773,750.00. Following the completion of the purchase, the chief executive officer directly owned 509,257 shares in the company, valued at $52,040,972.83. This trade represents a 32.53% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders purchased 343,872 shares of company stock valued at $34,844,179. 23.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On KKR & Co. Inc.

Institutional investors have recently made changes to their positions in the stock. ESL Trust Services LLC purchased a new stake in shares of KKR & Co. Inc. during the 3rd quarter worth $26,000. Asset Dedication LLC purchased a new stake in shares of KKR & Co. Inc. during the 3rd quarter worth $26,000. GGM Financials LLC purchased a new stake in shares of KKR & Co. Inc. during the 3rd quarter worth $27,000. Washington Trust Advisors Inc. purchased a new stake in shares of KKR & Co. Inc. during the 4th quarter worth $27,000. Finally, Elyxium Wealth LLC purchased a new stake in shares of KKR & Co. Inc. during the 4th quarter worth $27,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

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.