Delta Global Management LP Sells 18,457 Shares of KKR & Co. Inc. $KKR

Delta Global Management LP lessened its stake in KKR & Co. Inc. (NYSE:KKR) by 14.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,120 shares of the asset manager’s stock after selling 18,457 shares during the quarter. Delta Global Management LP’s holdings in KKR & Co. Inc. were worth $13,528,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of KKR. Asset Dedication LLC bought a new stake in KKR & Co. Inc. during the third quarter worth $26,000. GGM Financials LLC bought a new stake in KKR & Co. Inc. during the third quarter worth $27,000. Washington Trust Advisors Inc. bought a new stake in KKR & Co. Inc. during the fourth quarter worth $27,000. Elyxium Wealth LLC bought a new stake in KKR & Co. Inc. during the fourth quarter worth $27,000. Finally, SouthState Bank Corp lifted its holdings in KKR & Co. Inc. by 185.0% during 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. Institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Stock Up 1.8%

KKR & Co. Inc. stock opened at $97.98 on Tuesday. KKR & Co. Inc. has a 1-year low of $82.67 and a 1-year high of $153.87. The firm has a market capitalization of $87.98 billion, a price-to-earnings ratio of 33.33, a P/E/G ratio of 0.83 and a beta of 1.80. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.70. The firm has a 50 day simple moving average of $97.40 and a 200 day simple moving average of $107.21.

KKR & Co. Inc. (NYSE:KKR) last issued its earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share (EPS) 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 for the quarter. On average, analysts predict that KKR & Co. Inc. will post 5.51 earnings per share for the current year.

KKR & Co. Inc. announced that its board has initiated a share repurchase plan on Tuesday, May 5th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the asset manager to repurchase up to 0.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

KKR & Co. Inc. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, May 15th. This is a positive change from KKR & Co. Inc.’s previous quarterly dividend of $0.19. KKR & Co. Inc.’s dividend payout ratio is presently 26.53%.

Analysts Set New Price Targets

A number of brokerages recently commented on KKR. UBS Group lifted their price target on KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. The Goldman Sachs Group dropped their price target on KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Zacks Research upgraded KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. Weiss Ratings downgraded KKR & Co. Inc. from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, May 21st. Finally, Oppenheimer decreased their target price on KKR & Co. Inc. from $187.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $134.53.

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.