Townsquare Capital LLC Sells 5,918 Shares of KKR & Co. Inc. $KKR

Townsquare Capital LLC reduced its position in shares of KKR & Co. Inc. (NYSE:KKR) by 48.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,307 shares of the asset manager’s stock after selling 5,918 shares during the period. Townsquare Capital LLC’s holdings in KKR & Co. Inc. were worth $804,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Asset Dedication LLC bought a new position in shares of KKR & Co. Inc. during the third quarter valued at about $26,000. GGM Financials LLC bought a new stake in KKR & Co. Inc. in the third quarter worth about $27,000. Washington Trust Advisors Inc. bought a new stake in KKR & Co. Inc. in the fourth quarter worth about $27,000. Elyxium Wealth LLC bought a new stake in KKR & Co. Inc. in the fourth quarter worth about $27,000. Finally, SouthState Bank Corp raised its position in KKR & Co. Inc. by 185.0% in the fourth quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock worth $29,000 after acquiring an additional 148 shares during the period. 76.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Morgan Stanley lowered their price objective on shares of KKR & Co. Inc. from $177.00 to $153.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. Piper Sandler lowered 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 report on Tuesday, April 7th. Zacks Research raised shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. Barclays lowered 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 report on Wednesday, May 6th. Finally, The Goldman Sachs Group lowered their price objective on shares of KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $134.53.

KKR & Co. Inc. Stock Performance

Shares of KKR stock opened at $95.02 on Thursday. The firm has a market cap of $85.32 billion, a price-to-earnings ratio of 32.32, a P/E/G ratio of 0.83 and a beta of 1.79. 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’s 50-day simple moving average is $97.11 and its two-hundred day simple moving average is $107.69. KKR & Co. Inc. has a 52 week low of $82.67 and a 52 week high of $153.87.

KKR & Co. Inc. (NYSE:KKR) last posted its earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. The firm had revenue of $5.74 billion during the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. As a group, equities analysts forecast that KKR & Co. Inc. will post 5.51 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were paid a $0.195 dividend. The ex-dividend date 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 dividend yield of 0.8%. KKR & Co. Inc.’s dividend payout ratio is 26.53%.

KKR & Co. Inc. declared that its board has authorized a stock repurchase program on Tuesday, May 5th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the asset manager to buy up to 0.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

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.