KKR & Co. Inc. (NYSE:KKR) Price Target Raised to $106.00

KKR & Co. Inc. (NYSE:KKR) had its target price hoisted by TD Cowen from $102.00 to $106.00 in a research report report published on Wednesday,Benzinga reports. TD Cowen currently has a hold rating on the asset manager’s stock.

A number of other brokerages also recently commented on KKR. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of KKR & Co. Inc. in a report on Monday. Royal Bank Of Canada reduced their price objective on KKR & Co. Inc. from $132.00 to $128.00 and set an “outperform” rating on the stock in a research note on Wednesday. HSBC upgraded KKR & Co. Inc. from a “hold” rating to a “buy” rating and set a $144.00 price objective on the stock in a research report on Wednesday, January 28th. Barclays lowered their price objective on KKR & Co. Inc. from $127.00 to $122.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, UBS Group dropped their target price on KKR & Co. Inc. from $168.00 to $125.00 and set a “buy” rating for the company in a report on Friday, February 20th. 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 given a Sell rating to the company. According to data from MarketBeat.com, KKR & Co. Inc. presently has an average rating of “Moderate Buy” and an average price target of $134.67.

KKR & Co. Inc. Trading Up 2.1%

Shares of KKR opened at $102.48 on Wednesday. The stock has a market capitalization of $91.36 billion, a PE ratio of 34.86, a P/E/G ratio of 0.90 and a beta of 1.85. The company’s fifty day moving average is $94.49 and its 200 day moving average is $111.73. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.07 and a current ratio of 0.07. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $153.87.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings data on Friday, February 27th. The asset manager reported $1.24 EPS for the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.50%. The business had revenue of $5.74 billion during the quarter. Sell-side analysts expect that KKR & Co. Inc. will post 5.39 earnings per share for the current fiscal year.

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

KKR & Co. Inc. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be issued a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, May 15th. This is a positive change from KKR & Co. Inc.’s previous quarterly dividend of $0.19. KKR & Co. Inc.’s payout ratio is currently 25.17%.

Insider Activity

In other KKR & Co. Inc. news, Director Matt Cohler bought 43,872 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were purchased at an average price of $102.90 per share, with a total value of $4,514,428.80. Following the completion of the purchase, the director owned 45,477 shares in the company, valued at $4,679,583.30. This represents a 2,733.46% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Scott C. Nuttall purchased 125,000 shares of KKR & Co. Inc. stock in a transaction dated Tuesday, February 17th. The stock was acquired at an average price of $102.66 per share, for a total transaction of $12,832,500.00. Following the completion of the acquisition, the chief executive officer owned 15,503,748 shares of the company’s stock, valued at approximately $1,591,614,769.68. This trade represents a 0.81% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 393,872 shares of company stock worth $40,090,679 in the last ninety days. 23.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On KKR & Co. Inc.

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake 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 period. Principal Financial Group Inc. increased its stake in KKR & Co. Inc. by 6.9% in the 1st quarter. Principal Financial Group Inc. now owns 19,507,741 shares of the asset manager’s stock worth $1,804,470,000 after buying an additional 1,261,314 shares during the period. Geode Capital Management LLC lifted its holdings in KKR & Co. Inc. by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 14,995,742 shares of the asset manager’s stock valued at $1,903,220,000 after buying an additional 146,285 shares in the last quarter. Norges Bank bought a new stake in KKR & Co. Inc. during the 4th quarter valued at about $1,715,929,000. Finally, First Manhattan CO. LLC. boosted 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 valued at $1,095,951,000 after buying an additional 67,441 shares during the period. Institutional investors own 76.26% of the company’s stock.

Trending Headlines about KKR & Co. Inc.

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

• Positive Sentiment: UBS said KKR could see strong upside, and TD Cowen lifted its price target to $106, reinforcing a constructive analyst view on the stock. UBS Group Forecasts Strong Price Appreciation for KKR & Co. Inc. (NYSE:KKR) Stock
• Positive Sentiment: KKR closed its Arctos acquisition, expanding into sports franchise investing and GP solutions, which broadens its private-markets platform and could support longer-term growth. KKR Adds Sports Franchise Exposure Through Arctos Buyout
• Positive Sentiment: KKR-backed InCred filed IPO papers in India targeting a large valuation, which may highlight value creation within KKR’s portfolio. KKR-Backed InCred Files ₹3,000 Crore IPO Papers, Targets ₹15,000 Crore Valuation
• Positive Sentiment: KKR portfolio company CoolIT was sold for $4.75 billion, and employee payouts are reportedly substantial, another sign that KKR can monetize investments well. This KKR Portfolio Company Just Sold for $4.75 Billion—and Its Employees Are Getting an 8x Salary Bonus
• Neutral Sentiment: Unusual options activity showed elevated put buying, suggesting some traders are hedging or betting on near-term downside, but it does not confirm a fundamental change. KKR, Instructure Sued After Canvas EdTech Tool Data Breach (1)
• Neutral Sentiment: RBC turned more cautious on KKR’s stock price, adding to the mixed analyst backdrop, though it is offset by the bullish views elsewhere. Royal Bank Of Canada Issues Pessimistic Forecast for KKR & Co. Inc. (NYSE:KKR) Stock Price
• Negative Sentiment: KKR and Instructure were sued over a data breach tied to the Canvas edtech tool, creating potential legal and reputational risk for KKR. KKR, Instructure Sued After Canvas EdTech Tool Data Breach (1)
• Negative Sentiment: KKR’s Q1 results beat estimates, but shares fell after management reduced visibility on reaching $7 per share in annualized net income, which spooked investors about near-term earnings momentum. KKR Shares Slip as Weak ANI Outlook Overshadows Q1 Earnings Beat

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.