Strs Ohio Sells 8,958 Shares of KKR & Co. Inc. $KKR

Strs Ohio reduced its position in KKR & Co. Inc. (NYSE:KKR) by 3.9% during the first quarter, HoldingsChannel.com reports. The firm owned 221,721 shares of the asset manager’s stock after selling 8,958 shares during the period. Strs Ohio’s holdings in KKR & Co. Inc. were worth $20,509,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of KKR & Co. Inc. by 109.6% during the fourth quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager’s stock valued at $689,000 after buying an additional 2,437 shares during the period. Bison Wealth LLC purchased a new stake in shares of KKR & Co. Inc. in the fourth quarter worth approximately $218,000. Sivia Capital Partners LLC raised its holdings in shares of KKR & Co. Inc. by 13.1% in the second quarter. Sivia Capital Partners LLC now owns 2,050 shares of the asset manager’s stock worth $273,000 after buying an additional 237 shares during the period. United Bank bought a new stake in shares of KKR & Co. Inc. during the 2nd quarter worth approximately $769,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of KKR & Co. Inc. during the 2nd quarter worth approximately $4,826,000. Institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Stock Down 0.2%

Shares of NYSE:KKR opened at $93.67 on Friday. The business’s 50 day moving average is $96.24 and its 200 day moving average is $103.93. The stock has a market cap of $84.10 billion, a P/E ratio of 31.86, a price-to-earnings-growth ratio of 0.81 and a beta of 1.79. KKR & Co. Inc. has a 52-week low of $82.67 and a 52-week high of $153.87. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.70.

KKR & Co. Inc. (NYSE:KKR) last issued its earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share 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. Sell-side analysts predict that KKR & Co. Inc. will post 5.51 EPS for the current year.

KKR & Co. Inc. Increases Dividend

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

KKR & Co. Inc. declared that its Board of Directors has initiated a stock buyback program 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 stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have commented on KKR shares. The Goldman Sachs Group cut their price objective on KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Weiss Ratings raised shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, June 16th. Royal Bank Of Canada cut their price target on shares of KKR & Co. Inc. from $132.00 to $128.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. Zacks Research raised shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. Finally, BMO Capital Markets decreased their price objective on shares of KKR & Co. Inc. from $125.00 to $106.00 and set an “outperform” rating for the company in a report on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.