Citigroup Cuts KKR & Co. Inc. (NYSE:KKR) Price Target to $150.00

KKR & Co. Inc. (NYSE:KKR) had its target price decreased by Citigroup from $170.00 to $150.00 in a research note released on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the asset manager’s stock.

Several other equities analysts have also commented on KKR. HSBC lowered KKR & Co. Inc. from a “buy” rating to a “hold” rating and set a $142.00 price objective on the stock. in a research report on Wednesday, July 9th. Citizens Jmp lowered KKR & Co. Inc. from an “outperform” rating to a “market perform” rating in a research report on Monday, July 14th. Weiss Ratings lowered KKR & Co. Inc. from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods increased their price objective on KKR & Co. Inc. from $155.00 to $162.00 and gave the company an “outperform” rating in a research report on Monday, August 4th. Finally, Piper Sandler assumed coverage on KKR & Co. Inc. in a research report on Monday, June 30th. They set an “overweight” rating and a $150.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, KKR & Co. Inc. has a consensus rating of “Moderate Buy” and a consensus price target of $156.20.

KKR & Co. Inc. Stock Performance

NYSE:KKR opened at $124.65 on Monday. The business’s 50-day moving average price is $137.23 and its two-hundred day moving average price is $128.63. KKR & Co. Inc. has a twelve month low of $86.15 and a twelve month high of $170.40. The stock has a market cap of $111.06 billion, a P/E ratio of 57.98, a PEG ratio of 1.40 and a beta of 1.91. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.77.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings data on Thursday, July 31st. The asset manager reported $1.18 EPS for the quarter, beating the consensus estimate of $1.14 by $0.04. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.81 billion. KKR & Co. Inc. had a return on equity of 6.30% and a net margin of 12.95%.During the same period in the prior year, the company earned $1.09 EPS. As a group, equities analysts predict that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th were issued a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, August 11th. This is a positive change from KKR & Co. Inc.’s previous quarterly dividend of $0.18. KKR & Co. Inc.’s dividend payout ratio is 34.42%.

Insider Activity at KKR & Co. Inc.

In related news, Chairman George R. Roberts sold 809,906 shares of KKR & Co. Inc. stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $144.25, for a total value of $116,828,940.50. Following the completion of the sale, the chairman owned 81,361,978 shares of the company’s stock, valued at $11,736,465,326.50. The trade was a 0.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 39.34% of the company’s stock.

Institutional Trading of KKR & Co. Inc.

Several hedge funds have recently bought and sold shares of the stock. CWM LLC grew its holdings in KKR & Co. Inc. by 4.4% during the third quarter. CWM LLC now owns 10,129 shares of the asset manager’s stock valued at $1,316,000 after purchasing an additional 431 shares during the period. Spirit of America Management Corp NY lifted its position in shares of KKR & Co. Inc. by 4.8% in the third quarter. Spirit of America Management Corp NY now owns 4,350 shares of the asset manager’s stock valued at $565,000 after acquiring an additional 200 shares in the last quarter. Cadent Capital Advisors LLC boosted its stake in KKR & Co. Inc. by 16.1% during the third quarter. Cadent Capital Advisors LLC now owns 3,970 shares of the asset manager’s stock valued at $516,000 after buying an additional 550 shares during the last quarter. Strid Group LLC bought a new position in KKR & Co. Inc. during the third quarter valued at approximately $208,000. Finally, Norden Group LLC boosted its stake in KKR & Co. Inc. by 45.9% during the third quarter. Norden Group LLC now owns 3,907 shares of the asset manager’s stock valued at $508,000 after buying an additional 1,230 shares during the last quarter. Institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Company Profile

KKR & Co, Inc operates as an investment firm. It offers alternative asset management as well as capital markets and insurance solutions. The firm’s business segments include Asset Management and Insurance Business. The Asset Management segment engages in providing private equity, real assets, credit and liquid strategies, capital markets, and principal activities.