Healthcare of Ontario Pension Plan Trust Fund Cuts Stake in KKR & Co. Inc. $KKR

Healthcare of Ontario Pension Plan Trust Fund lowered its holdings in shares of KKR & Co. Inc. (NYSE:KKR) by 72.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 227,132 shares of the asset manager’s stock after selling 586,841 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in KKR & Co. Inc. were worth $28,955,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in KKR. Asset Dedication LLC purchased a new stake in shares of KKR & Co. Inc. during the third quarter worth about $26,000. GGM Financials LLC purchased a new stake in shares of KKR & Co. Inc. during the third quarter worth about $27,000. Washington Trust Advisors Inc. purchased a new stake in shares of KKR & Co. Inc. during the fourth quarter worth about $27,000. Elyxium Wealth LLC purchased a new stake in shares of KKR & Co. Inc. during the fourth quarter worth about $27,000. Finally, SouthState Bank Corp grew its position in shares of 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 purchasing an additional 148 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on KKR. Weiss Ratings cut KKR & Co. Inc. from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, May 21st. BMO Capital Markets dropped their price target on KKR & Co. Inc. from $125.00 to $106.00 and set an “outperform” rating for the company in a research note on Tuesday, March 24th. Barclays dropped their price target on KKR & Co. Inc. from $127.00 to $122.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Piper Sandler dropped their price target on KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating for the company in a research note on Tuesday, April 7th. Finally, Royal Bank Of Canada dropped their price target on KKR & Co. Inc. from $132.00 to $128.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. 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 assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.53.

KKR & Co. Inc. Price Performance

Shares of KKR & Co. Inc. stock opened at $97.98 on Tuesday. The stock has a 50 day moving average of $97.40 and a 200 day moving average of $107.21. KKR & Co. Inc. has a 12 month low of $82.67 and a 12 month high of $153.87. The firm has a market cap of $87.98 billion, a PE ratio of 33.33, a PEG 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.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings results on Friday, February 27th. The asset manager reported $1.24 EPS for the quarter. The company had revenue of $5.74 billion during the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%. On average, research analysts expect that KKR & Co. Inc. will post 5.51 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were paid a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 0.8%. 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. KKR & Co. Inc.’s dividend payout ratio is 26.53%.

KKR & Co. Inc. announced that its board has initiated a stock repurchase plan on Tuesday, May 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the asset manager to purchase up to 0.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors 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.