KKR & Co. Inc. (NYSE:KKR) Stock Gets Price Target Reduction from Oppenheimer

KKR & Co. Inc. (NYSE:KKR) had its target price decreased by Oppenheimer from $163.00 to $156.00 in a research report sent to investors on Tuesday,Benzinga reports. Oppenheimer currently has an outperform rating on the asset manager’s stock.

A number of other brokerages have also commented on KKR. HSBC decreased their price objective on shares of KKR & Co. Inc. from $121.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, October 1st. Argus upped their target price 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. Evercore decreased their price target on shares of KKR & Co. Inc. from $119.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. Weiss Ratings reissued a “hold (c-)” rating on shares of KKR & Co. Inc. in a research note on Friday, September 11th. Finally, Keefe, Bruyette & Woods raised KKR & Co. Inc. to a “moderate buy” rating in a report on Monday, July 20th. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, KKR & Co. Inc. presently has a consensus rating of “Moderate Buy” and an average price target of $123.32.

KKR & Co. Inc. Price Performance

NYSE:KKR opened at $97.13 on Tuesday. The company has a 50-day moving average of $95.30 and a 200-day moving average of $97.87. The company has a market capitalization of $86.65 billion, a price-to-earnings ratio of 28.32, a PEG ratio of 0.77 and a beta of 1.72. KKR & Co. Inc. has a 52 week low of $82.67 and a 52 week high of $144.84. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.09 and a current ratio of 0.09.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings data on Monday, November 9th. The asset manager reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.20. The company had revenue of $4.56 billion for the quarter, compared to analyst estimates of $2.66 billion. KKR & Co. Inc. had a return on equity of 6.33% and a net margin of 16.38%. During the same period in the prior year, the company posted $1.41 EPS. As a group, equities research analysts anticipate that KKR & Co. Inc. will post 7.32 earnings per share for the current fiscal year.

KKR & Co. Inc. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Thursday, November 19th will be issued a $0.1950 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, November 19th. KKR & Co. Inc.’s dividend payout ratio is presently 22.74%.

Insider Activity at KKR & Co. Inc.

In other news, insider Dane Holmes sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $108.58, for a total transaction of $1,085,800.00. Following the completion of the sale, the insider owned 8,513 shares in the company, valued at $924,341.54. The trade was a 54.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 23.20% of the company’s stock.

Institutional Investors Weigh In On KKR & Co. Inc.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Meeder Advisory Services Inc. grew its holdings in shares of KKR & Co. Inc. by 15.7% in the third quarter. Meeder Advisory Services Inc. now owns 11,743 shares of the asset manager’s stock worth $1,072,000 after purchasing an additional 1,592 shares during the last quarter. Benjamin Edwards Inc. increased its stake in shares of KKR & Co. Inc. by 3.8% in the third quarter. Benjamin Edwards Inc. now owns 25,688 shares of the asset manager’s stock worth $2,345,000 after buying an additional 950 shares during the period. Winslow Capital Management LLC bought a new stake in KKR & Co. Inc. during the 3rd quarter valued at $168,671,000. First Trust Advisors LP raised its holdings in KKR & Co. Inc. by 104.3% during the 3rd quarter. First Trust Advisors LP now owns 62,251 shares of the asset manager’s stock valued at $5,683,000 after buying an additional 31,779 shares during the last quarter. Finally, Texas Yale Capital Corp. boosted its position in KKR & Co. Inc. by 1.6% during the 3rd quarter. Texas Yale Capital Corp. now owns 91,786 shares of the asset manager’s stock valued at $8,380,000 after buying an additional 1,455 shares during the period. 76.26% of the stock is currently owned by institutional investors.

KKR & Co. Inc. News Summary

Here’s some of the latest news about KKR:

• Positive Sentiment: KKR and RWE finalized a partnership to develop two U.K. offshore wind projects with about 2.8 gigawatts of capacity and a combined investment of roughly £12 billion. The project adds a substantial renewable-energy opportunity, although returns depend on execution and long-term operations. RWE, KKR finalise $16 billion investment in UK renewables
• Positive Sentiment: Piper Sandler raised its price target to $125 and maintained an Overweight rating; Morgan Stanley also raised its target, while RBC reaffirmed Outperform. These calls signal continued analyst confidence in KKR’s prospects. Piper Sandler raises KKR price target
• Neutral Sentiment: KKR set a goal to hire 250,000 veterans and military spouses across its portfolio by 2040. The commitment may support portfolio-company recruiting and KKR’s reputation, but is not an immediate financial catalyst. KKR veteran hiring commitment

KKR & Co. Inc. Company Profile

KKR & Co. Inc. is a global investment firm that manages alternative investment funds and other investment products. Its activities include private equity, credit, infrastructure and real estate investing, as well as insurance through its Global Atlantic business. The firm also provides capital markets services, including financing and strategic solutions for companies and other clients. KKR invests across multiple industries and serves clients and investors in markets around the world. Founded in 1976 by Henry Kravis, George Roberts and Jerome Kohlberg, KKR is led by co-chief executive officers Joseph Bae and Scott Nuttall.