Westpac Banking Corp Purchases New Position in KKR & Co. Inc. $KKR

Westpac Banking Corp purchased a new stake in KKR & Co. Inc. (NYSE:KKR) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 5,848 shares of the asset manager’s stock, valued at approximately $537,000.

Other hedge funds have also recently bought and sold shares of the company. Sumitomo Life Insurance Co. bought a new stake in shares of KKR & Co. Inc. during the second quarter worth approximately $2,350,000. Landscape Capital Management L.L.C. acquired a new position in shares of KKR & Co. Inc. in the second quarter valued at approximately $1,834,000. Korea Investment CORP bought a new position in shares of KKR & Co. Inc. during the second quarter worth approximately $20,645,000. EP Wealth Advisors LLC bought a new position in shares of KKR & Co. Inc. during the second quarter worth approximately $7,358,000. Finally, Ieq Capital LLC acquired a new stake in KKR & Co. Inc. during the 2nd quarter worth approximately $13,033,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.

KKR & Co. Inc. Stock Up 1.5%

NYSE KKR opened at $108.59 on Friday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.71. The company has a market cap of $97.47 billion, a price-to-earnings ratio of 34.58, a PEG ratio of 0.93 and a beta of 1.78. The company has a 50 day moving average of $100.09 and a 200-day moving average of $97.62. KKR & Co. Inc. has a 1-year low of $82.67 and a 1-year high of $152.10.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings results on Thursday, July 30th. The asset manager reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.20. KKR & Co. Inc. had a return on equity of 5.88% and a net margin of 14.41%.The business had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the prior year, the business posted $1.18 earnings per share. On average, equities research analysts expect that KKR & Co. Inc. will post 5.68 earnings per share for the current fiscal year.

KKR & Co. Inc. declared that its Board of Directors has approved a share buyback program on Tuesday, May 5th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes 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 board believes its shares are undervalued.

KKR & Co. Inc. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Monday, August 10th will be given a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, August 10th. KKR & Co. Inc.’s dividend payout ratio is presently 24.84%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on KKR shares. BMO Capital Markets boosted their price target on KKR & Co. Inc. from $112.00 to $118.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Oppenheimer lowered their price objective on KKR & Co. Inc. from $143.00 to $139.00 and set an “outperform” rating on the stock in a research report on Friday, July 17th. Zacks Research raised KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. Keefe, Bruyette & Woods raised shares of KKR & Co. Inc. to a “moderate buy” rating in a research report on Monday, July 20th. Finally, Royal Bank Of Canada upped their price target on shares of KKR & Co. Inc. from $125.00 to $134.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, KKR & Co. Inc. presently has a consensus rating of “Moderate Buy” and an average price target of $127.75.

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.