Meiji Yasuda Asset Management Co Ltd. Acquires Shares of 5,201 KKR & Co. Inc. $KKR

Meiji Yasuda Asset Management Co Ltd. bought a new position in KKR & Co. Inc. (NYSE:KKR) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,201 shares of the asset manager’s stock, valued at approximately $477,000.

A number of other institutional investors also recently modified their holdings of the stock. Washington Trust Advisors Inc. acquired a new position in KKR & Co. Inc. during the 4th quarter worth $27,000. Elyxium Wealth LLC bought a new stake in shares of KKR & Co. Inc. during the fourth quarter worth $27,000. SouthState Bank Corp raised its position in shares of 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 last quarter. Garton & Associates Financial Advisors LLC acquired a new position in shares of KKR & Co. Inc. during the fourth quarter valued at $29,000. Finally, MV Capital Management Inc. bought a new position in KKR & Co. Inc. in the fourth quarter valued at about $31,000. 76.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

KKR has been the subject of a number of research reports. UBS Group lifted their price objective on KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. HSBC raised their target price on shares of KKR & Co. Inc. from $118.00 to $121.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Argus lifted their price target on shares of KKR & Co. Inc. from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Zacks Research upgraded shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. Finally, TD Cowen raised their price objective on shares of KKR & Co. Inc. from $108.00 to $111.00 and gave the company a “hold” rating in a research note on Monday, August 3rd. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $127.75.

KKR & Co. Inc. Stock Up 0.3%

KKR & Co. Inc. stock opened at $107.66 on Wednesday. The company’s 50 day simple moving average is $100.45 and its 200 day simple moving average is $97.56. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $152.10. The firm has a market capitalization of $96.64 billion, a price-to-earnings ratio of 34.29, a PEG ratio of 0.91 and a beta of 1.78. 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 issued its earnings results on Thursday, July 30th. The asset manager reported $1.63 EPS for the quarter, beating the consensus estimate of $1.43 by $0.20. The firm had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $2.55 billion. KKR & Co. Inc. had a net margin of 14.41% and a return on equity of 5.88%. During the same quarter in the prior year, the firm earned $1.18 earnings per share. As a group, sell-side analysts anticipate that KKR & Co. Inc. will post 5.68 EPS for the current year.

KKR & Co. Inc. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Monday, August 10th were issued a dividend of $0.195 per share. The ex-dividend date was Monday, August 10th. This represents a $0.78 annualized dividend and a yield of 0.7%. KKR & Co. Inc.’s payout ratio is currently 24.84%.

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

KKR & Co. Inc. 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.