KKR & Co. Inc. (NYSE:KKR) Price Target Raised to $125.00

KKR & Co. Inc. (NYSE:KKR) had its price objective upped by Argus from $115.00 to $125.00 in a research note published on Tuesday,Benzinga reports. They currently have a buy rating on the asset manager’s stock.

A number of other equities research analysts have also recently commented on the company. Morgan Stanley cut their target price on KKR & Co. Inc. from $153.00 to $147.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 21st. BMO Capital Markets lifted their price target on KKR & Co. Inc. from $112.00 to $118.00 and gave the stock an “outperform” rating in a research report on Monday. Zacks Research upgraded shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. TD Cowen raised their price objective on shares of KKR & Co. Inc. from $108.00 to $111.00 and gave the company a “hold” rating in a research note on Monday. Finally, Piper Sandler decreased their target price on shares of KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.75.

KKR & Co. Inc. Price Performance

KKR stock opened at $103.41 on Tuesday. The firm has a 50 day moving average price of $96.90 and a 200-day moving average price of $98.34. KKR & Co. Inc. has a 52-week low of $82.67 and a 52-week high of $152.10. The firm has a market capitalization of $92.85 billion, a price-to-earnings ratio of 32.93, a PEG ratio of 0.91 and a beta of 1.78. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.08 and a current ratio of 0.08.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings results on Thursday, July 30th. The asset manager reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.20. KKR & Co. Inc. had a return on equity of 5.89% and a net margin of 14.41%.The firm had revenue of $5.73 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same period in the previous year, the firm posted $1.18 EPS. Equities research analysts forecast that KKR & Co. Inc. will post 5.66 EPS for the current fiscal year.

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

KKR & Co. Inc. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Monday, August 10th will be issued 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 of this dividend is Monday, August 10th. KKR & Co. Inc.’s dividend payout ratio is presently 24.84%.

Hedge Funds Weigh In On KKR & Co. Inc.

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of KKR & Co. Inc. by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 60,064,587 shares of the asset manager’s stock valued at $7,657,034,000 after purchasing an additional 821,739 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in KKR & Co. Inc. by 6.9% in the first quarter. Principal Financial Group Inc. now owns 19,507,741 shares of the asset manager’s stock worth $1,804,470,000 after purchasing an additional 1,261,314 shares during the last quarter. Geode Capital Management LLC boosted its holdings in KKR & Co. Inc. by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 14,995,742 shares of the asset manager’s stock worth $1,903,220,000 after purchasing an additional 146,285 shares during the last quarter. Norges Bank bought a new stake in KKR & Co. Inc. in the 4th quarter worth approximately $1,715,929,000. Finally, First Manhattan CO. LLC. grew its position in KKR & Co. Inc. by 0.8% in the 4th quarter. First Manhattan CO. LLC. now owns 8,597,044 shares of the asset manager’s stock worth $1,095,951,000 after purchasing an additional 67,441 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Key Stories Impacting KKR & Co. Inc.

Here are the key news stories impacting KKR & Co. Inc. this week:

• Positive Sentiment: KKR agreed to acquire Medicover’s India hospital business for approximately €1.2 billion. The transaction expands KKR’s healthcare portfolio in India and could provide exposure to a growing medical-services market. Medicover to sell India hospital business to KKR for €1.2 billion
• Positive Sentiment: KKR closed its Global Infrastructure Investors V fund with $19.2 billion available for investment. The fundraising reinforces the firm’s ability to attract institutional capital and supports future fee-generating asset growth. KKR closes Global Infrastructure Investors V fund
• Positive Sentiment: KKR is reportedly taking medical-equipment maker Integer Holdings private in a roughly $5.7 billion transaction and is arranging about $2 billion of debt financing. The deal could increase KKR’s assets under management and future management-fee potential. KKR to take Integer Holdings private
• Positive Sentiment: Analysts raised their KKR price targets to $118 at BMO Capital Markets and $111 at TD Cowen, while Argus forecast strong appreciation. These revisions suggest improving analyst confidence in KKR’s earnings and growth outlook. BMO raises KKR price target
• Neutral Sentiment: A separate company, FS KKR Capital Corp. (NYSE: FSK), reported quarterly results and declared a $0.44 distribution. This is not an operating update for KKR & Co. Inc. and should have limited direct effect on KKR stock. FS KKR Capital quarterly results
• Negative Sentiment: Investors purchased a large volume of KKR put options, signaling increased demand for downside protection or bearish positioning. This may contribute to short-term pressure, although options activity is not a fundamental indicator. KKR put-option activity

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.