Varma Mutual Pension Insurance Co Invests $11.78 Million in KKR & Co. Inc. $KKR

Varma Mutual Pension Insurance Co purchased a new position in KKR & Co. Inc. (NYSE:KKR) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 128,327 shares of the asset manager’s stock, valued at approximately $11,778,000.

Several other institutional investors also recently bought and sold shares of KKR. Brighton Jones LLC grew its holdings 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 last quarter. Bison Wealth LLC bought a new position in KKR & Co. Inc. in the 4th quarter valued at approximately $218,000. Sivia Capital Partners LLC lifted its position in KKR & Co. Inc. by 13.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,050 shares of the asset manager’s stock valued at $273,000 after acquiring an additional 237 shares in the last quarter. United Bank purchased a new stake in KKR & Co. Inc. during the 2nd quarter valued at $769,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of KKR & Co. Inc. in the 2nd quarter worth $4,826,000. 76.26% of the stock is owned by hedge funds and other institutional investors.

KKR & Co. Inc. Price Performance

Shares of NYSE:KKR opened at $108.59 on Monday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $97.47 billion, a PE ratio of 34.58, a price-to-earnings-growth ratio of 0.92 and a beta of 1.78. The firm’s 50 day moving average price is $100.09 and its 200-day moving average price is $97.51. KKR & Co. Inc. has a twelve month low of $82.67 and a twelve month high of $152.10.

KKR & Co. Inc. (NYSE:KKR) last announced 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 net margin of 14.41% and a return on equity of 5.88%. The business had revenue of $5.73 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same period in the prior year, the company earned $1.18 earnings per share. Equities research analysts expect that KKR & Co. Inc. will post 5.68 EPS for the current year.

KKR & Co. Inc. declared that its board has authorized a stock buyback plan on Tuesday, May 5th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the asset manager to repurchase up to 0.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

KKR & Co. Inc. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Monday, August 10th will be paid a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, August 10th. KKR & Co. Inc.’s dividend payout ratio is 24.84%.

Wall Street Analysts Forecast Growth

KKR has been the subject of several recent analyst reports. Royal Bank Of Canada boosted their price target on KKR & Co. Inc. from $125.00 to $134.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. HSBC lifted their price objective on KKR & Co. Inc. from $118.00 to $121.00 and gave the stock a “buy” rating in a report on Monday, July 20th. TD Cowen boosted their target price on KKR & Co. Inc. from $108.00 to $111.00 and gave the stock a “hold” rating in a research report on Monday, August 3rd. Keefe, Bruyette & Woods upgraded shares of KKR & Co. Inc. to a “moderate buy” rating in a research note on Monday, July 20th. Finally, Argus raised their price target on shares of KKR & Co. Inc. from $115.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $127.75.

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.