Payne Capital Management LLC Purchases Shares of 5,080 KKR & Co. Inc. $KKR

Payne Capital Management LLC acquired a new stake in shares of KKR & Co. Inc. (NYSE:KKR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 5,080 shares of the asset manager’s stock, valued at approximately $466,000.

Several other large investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its holdings in shares of KKR & Co. Inc. by 109.6% in the fourth quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager’s stock valued at $689,000 after purchasing an additional 2,437 shares in the last quarter. Bison Wealth LLC bought a new position in KKR & Co. Inc. during the fourth quarter valued at $218,000. Sivia Capital Partners LLC grew its stake in shares of 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 worth $273,000 after buying an additional 237 shares in the last quarter. United Bank bought a new stake in shares of KKR & Co. Inc. in the 2nd quarter worth about $769,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of KKR & Co. Inc. during the 2nd quarter valued at about $4,826,000. 76.26% of the stock is owned by institutional investors.

KKR & Co. Inc. Stock Performance

Shares of KKR stock opened at $108.60 on Thursday. The business’s fifty day simple moving average is $100.68 and its 200-day simple moving average is $97.62. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.71. KKR & Co. Inc. has a 12-month low of $82.67 and a 12-month high of $152.10. The company has a market cap of $97.48 billion, a PE ratio of 34.59, a PEG ratio of 0.91 and a beta of 1.78.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings results on Thursday, July 30th. The asset manager reported $1.63 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter last year, the company earned $1.18 earnings per share. Analysts expect that KKR & Co. Inc. will post 5.68 earnings per share for the current fiscal year.

KKR & Co. Inc. declared that its board has initiated a share buyback program on Tuesday, May 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the asset manager to buy up to 0.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

KKR & Co. Inc. Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts recently commented on the company. Royal Bank Of Canada lifted their price target on KKR & Co. Inc. from $125.00 to $134.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. UBS Group raised their price objective on KKR & Co. Inc. from $113.00 to $126.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. TD Cowen boosted their target price on KKR & Co. Inc. from $108.00 to $111.00 and gave the company a “hold” rating in a research report on Monday, August 3rd. Weiss Ratings raised shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, June 16th. Finally, Barclays boosted 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. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $127.75.

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.