KKR & Co. Inc. (NYSE:KKR) Shares Gap Down – Here’s Why

KKR & Co. Inc. (NYSE:KKR) gapped down prior to trading on Wednesday . The stock had previously closed at $94.45, but opened at $89.40. KKR & Co. Inc. shares last traded at $90.56, with a volume of 805,085 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Royal Bank Of Canada dropped their target price on shares of KKR & Co. Inc. from $132.00 to $128.00 and set an “outperform” rating for the company in a report on Wednesday, May 6th. Barclays decreased their price target on 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. Weiss Ratings downgraded KKR & Co. Inc. from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, May 21st. Oppenheimer reduced their price objective on KKR & Co. Inc. from $187.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, April 13th. Finally, BMO Capital Markets decreased their target price on KKR & Co. Inc. from $125.00 to $106.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $134.53.

KKR & Co. Inc. Stock Down 4.2%

The company has a market cap of $81.24 billion, a PE ratio of 30.78, a P/E/G ratio of 0.82 and a beta of 1.79. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.70. The firm’s fifty day simple moving average is $96.55 and its 200-day simple moving average is $108.86.

KKR & Co. Inc. (NYSE:KKR) last issued 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 business had revenue of $5.74 billion during the quarter. As a group, equities research analysts expect that KKR & Co. Inc. will post 5.51 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a dividend of $0.195 per share. The ex-dividend date of this dividend was Friday, May 15th. This is a positive change from KKR & Co. Inc.’s previous quarterly dividend of $0.19. This represents a $0.78 annualized dividend and a yield of 0.9%. KKR & Co. Inc.’s dividend payout ratio (DPR) is 26.53%.

KKR & Co. Inc. declared that its board has authorized a stock repurchase program 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 shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Trading of KKR & Co. Inc.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of KKR & Co. Inc. by 5.2% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,313,857 shares of the asset manager’s stock worth $170,736,000 after purchasing an additional 65,178 shares during the last quarter. Banco Santander S.A. increased its stake in KKR & Co. Inc. by 5,405.9% in the third quarter. Banco Santander S.A. now owns 144,970 shares of the asset manager’s stock valued at $18,839,000 after purchasing an additional 142,337 shares during the last quarter. Cumberland Partners Ltd increased its stake in KKR & Co. Inc. by 816.2% in the third quarter. Cumberland Partners Ltd now owns 25,791 shares of the asset manager’s stock valued at $3,352,000 after purchasing an additional 22,976 shares during the last quarter. B. Metzler seel. Sohn & Co. AG lifted its position in KKR & Co. Inc. by 63.2% during the third quarter. B. Metzler seel. Sohn & Co. AG now owns 98,983 shares of the asset manager’s stock worth $12,862,000 after buying an additional 38,322 shares during the period. Finally, Employees Retirement System of Texas lifted its position in KKR & Co. Inc. by 54.9% during the third quarter. Employees Retirement System of Texas now owns 540,300 shares of the asset manager’s stock worth $70,212,000 after buying an additional 191,600 shares during the period. 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.