River Road Asset Management LLC Sells 91,207 Shares of KKR & Co. Inc. $KKR

River Road Asset Management LLC cut its position in shares of KKR & Co. Inc. (NYSE:KKR) by 19.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 375,494 shares of the asset manager’s stock after selling 91,207 shares during the quarter. River Road Asset Management LLC’s holdings in KKR & Co. Inc. were worth $47,868,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in KKR. Asset Dedication LLC bought a new position in shares of KKR & Co. Inc. during the 3rd quarter worth approximately $26,000. GGM Financials LLC bought a new position in shares of KKR & Co. Inc. in the third quarter valued at approximately $27,000. Washington Trust Advisors Inc. purchased a new stake in shares of KKR & Co. Inc. during the fourth quarter valued at approximately $27,000. Elyxium Wealth LLC purchased a new stake in shares of KKR & Co. Inc. during the fourth quarter valued at approximately $27,000. Finally, SouthState Bank Corp lifted its holdings in KKR & Co. Inc. by 185.0% during the fourth quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock worth $29,000 after acquiring an additional 148 shares during the period. 76.26% of the stock is owned by institutional investors.

KKR & Co. Inc. Price Performance

Shares of NYSE KKR opened at $97.01 on Friday. The stock has a fifty day simple moving average of $97.80 and a two-hundred day simple moving average of $106.72. KKR & Co. Inc. has a 1-year low of $82.67 and a 1-year high of $153.87. The firm has a market cap of $87.10 billion, a price-to-earnings ratio of 33.00, a price-to-earnings-growth ratio of 0.84 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.

KKR & Co. Inc. (NYSE:KKR) last released its earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share (EPS) for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%.The business had revenue of $5.74 billion during the quarter. Analysts anticipate that KKR & Co. Inc. will post 5.51 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a $0.195 dividend. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.78 annualized dividend and a yield of 0.8%. KKR & Co. Inc.’s payout ratio is 26.53%.

KKR & Co. Inc. announced that its board has approved a stock buyback 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 repurchase up to 0.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on KKR shares. BMO Capital Markets cut their price objective on KKR & Co. Inc. from $125.00 to $106.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 24th. Piper Sandler decreased their target price on KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. Barclays lowered their target price on KKR & Co. Inc. from $127.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. Morgan Stanley cut their price target on shares of KKR & Co. Inc. from $177.00 to $153.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. Finally, The Goldman Sachs Group reduced their price target on shares of KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $134.53.

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.