Handelsbanken Fonder AB Acquires 60,571 Shares of KKR & Co. Inc. $KKR

Handelsbanken Fonder AB grew its holdings in KKR & Co. Inc. (NYSE:KKR) by 22.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 331,880 shares of the asset manager’s stock after acquiring an additional 60,571 shares during the period. Handelsbanken Fonder AB’s holdings in KKR & Co. Inc. were worth $30,460,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in KKR & Co. Inc. by 1.4% during the 4th 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. boosted 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 purchasing an additional 1,261,314 shares during the period. Geode Capital Management LLC boosted its stake in KKR & Co. Inc. by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 14,995,742 shares of the asset manager’s stock worth $1,903,220,000 after purchasing an additional 146,285 shares during the period. Norges Bank purchased a new stake in KKR & Co. Inc. during the 4th quarter valued at approximately $1,715,929,000. Finally, First Manhattan CO. LLC. grew its holdings in KKR & Co. Inc. by 0.8% during 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 in the last quarter. Institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Stock Performance

NYSE:KKR opened at $111.04 on Wednesday. The company has a market cap of $99.67 billion, a price-to-earnings ratio of 35.36, a PEG ratio of 0.89 and a beta of 1.78. KKR & Co. Inc. has a 1 year low of $82.67 and a 1 year high of $152.10. The stock’s 50 day simple moving average is $97.54 and its two-hundred day simple moving average is $97.91. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.09 and a quick ratio of 0.09.

KKR & Co. Inc. (NYSE:KKR) last posted its earnings results on Thursday, July 30th. The asset manager reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.20. KKR & Co. Inc. had a return on equity of 5.88% and a net margin of 14.41%.The firm had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the prior year, the company earned $1.18 EPS. As a group, equities analysts anticipate that KKR & Co. Inc. will post 5.68 earnings per share for the current fiscal year.

KKR & Co. Inc. declared that its Board of Directors has approved a share repurchase program on Tuesday, May 5th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the asset manager to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

KKR & Co. Inc. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Monday, August 10th will be paid a dividend of $0.195 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.78 dividend on an annualized basis and a yield of 0.7%. KKR & Co. Inc.’s dividend payout ratio is presently 24.84%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on KKR shares. Barclays lifted their price objective on shares of KKR & Co. Inc. from $124.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. 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. BMO Capital Markets lifted their price target on shares of KKR & Co. Inc. from $112.00 to $118.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Keefe, Bruyette & Woods upgraded shares of KKR & Co. Inc. to a “moderate buy” rating in a report on Monday, July 20th. Finally, UBS Group boosted their price target 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. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, KKR & Co. Inc. has an average rating of “Moderate Buy” and an average target price of $127.75.

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.