Caldwell Investment Management Ltd. Buys New Stake in KKR & Co. Inc. $KKR

Caldwell Investment Management Ltd. acquired a new position in KKR & Co. Inc. (NYSE:KKR) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 200,000 shares of the asset manager’s stock, valued at approximately $25,711,000. KKR & Co. Inc. comprises 15.7% of Caldwell Investment Management Ltd.’s portfolio, making the stock its 3rd biggest position.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of KKR & Co. Inc. by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 60,064,587 shares of the asset manager’s stock worth $7,657,034,000 after acquiring an additional 821,739 shares during the period. Geode Capital Management LLC raised its position in shares of 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 acquiring an additional 146,285 shares during the period. Norges Bank acquired a new position in shares of KKR & Co. Inc. in the fourth quarter worth about $1,715,929,000. Capital Research Global Investors raised its position in shares of KKR & Co. Inc. by 0.4% in the fourth quarter. Capital Research Global Investors now owns 5,602,262 shares of the asset manager’s stock worth $714,195,000 after acquiring an additional 23,483 shares during the period. Finally, Legal & General Group Plc raised its position in shares of KKR & Co. Inc. by 1.7% in the fourth quarter. Legal & General Group Plc now owns 4,722,357 shares of the asset manager’s stock worth $602,006,000 after acquiring an additional 80,352 shares during the period. Institutional investors and hedge funds own 76.26% of the company’s stock.

Wall Street Analysts Forecast Growth

KKR has been the subject of a number of analyst reports. Royal Bank Of Canada decreased their price objective on shares of KKR & Co. Inc. from $132.00 to $128.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. Barclays cut their target price on shares of 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. UBS Group boosted their target price on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Piper Sandler cut 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 research note on Tuesday, April 7th. Finally, Oppenheimer cut their target price on shares of KKR & Co. Inc. from $187.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $134.53.

KKR & Co. Inc. Stock Up 2.6%

Shares of NYSE KKR opened at $95.67 on Wednesday. KKR & Co. Inc. has a 12-month low of $82.67 and a 12-month high of $153.87. The stock has a market cap of $85.89 billion, a PE ratio of 32.54, a P/E/G ratio of 0.81 and a beta of 1.79. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.70. The company has a 50-day moving average of $97.02 and a 200 day moving average of $107.83.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings data on Friday, February 27th. The asset manager reported $1.24 earnings per share (EPS) for the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. The company had revenue of $5.74 billion during the quarter. As a group, sell-side analysts predict that KKR & Co. Inc. will post 5.51 EPS for the current fiscal year.

KKR & Co. Inc. announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the asset manager to buy up to 0.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

KKR & Co. Inc. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a dividend of $0.195 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.78 annualized dividend and a yield of 0.8%. This is a boost from KKR & Co. Inc.’s previous quarterly dividend of $0.19. KKR & Co. Inc.’s dividend payout ratio is currently 26.53%.

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.