Rakuten Investment Management Inc. Invests $42.32 Million in KKR & Co. Inc. $KKR

Rakuten Investment Management Inc. purchased a new stake in shares of KKR & Co. Inc. (NYSE:KKR) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 325,663 shares of the asset manager’s stock, valued at approximately $42,320,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in KKR & Co. Inc. by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 58,656,955 shares of the asset manager’s stock valued at $7,803,135,000 after purchasing an additional 1,099,263 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of KKR & Co. Inc. by 4.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 19,847,217 shares of the asset manager’s stock worth $2,640,275,000 after buying an additional 765,457 shares during the period. Norges Bank bought a new stake in shares of KKR & Co. Inc. during the second quarter worth approximately $1,530,419,000. Lone Pine Capital LLC raised its stake in shares of KKR & Co. Inc. by 9.6% during the second quarter. Lone Pine Capital LLC now owns 5,221,769 shares of the asset manager’s stock worth $694,652,000 after buying an additional 457,998 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in KKR & Co. Inc. by 6.7% in the second quarter. Legal & General Group Plc now owns 4,576,310 shares of the asset manager’s stock valued at $608,787,000 after buying an additional 288,006 shares during the period. 76.26% of the stock is currently owned by institutional investors and hedge funds.

KKR & Co. Inc. Stock Performance

Shares of KKR & Co. Inc. stock opened at $122.86 on Wednesday. The stock’s fifty day simple moving average is $128.04 and its 200 day simple moving average is $132.88. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $109.51 billion, a PE ratio of 52.06, a PEG ratio of 1.14 and a beta of 1.99. KKR & Co. Inc. has a 12 month low of $86.15 and a 12 month high of $170.40.

KKR & Co. Inc. (NYSE:KKR) last posted its earnings results on Friday, November 7th. The asset manager reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. KKR & Co. Inc. had a return on equity of 6.12% and a net margin of 13.84%.The firm had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the previous year, the firm earned $1.38 earnings per share. On average, research analysts predict that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 2nd. Shareholders of record on Monday, November 17th were paid a $0.185 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $0.74 dividend on an annualized basis and a yield of 0.6%. KKR & Co. Inc.’s payout ratio is presently 31.36%.

Analyst Ratings Changes

KKR has been the subject of a number of analyst reports. Oppenheimer lowered their target price on shares of KKR & Co. Inc. from $166.00 to $164.00 and set an “outperform” rating for the company in a report on Tuesday, October 14th. Morgan Stanley decreased their price objective on KKR & Co. Inc. from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Tuesday, October 21st. Barclays dropped their price objective on KKR & Co. Inc. from $169.00 to $159.00 and set an “overweight” rating for the company in a report on Friday, January 9th. UBS Group cut their target price on KKR & Co. Inc. from $176.00 to $168.00 and set a “buy” rating on the stock in a research note on Tuesday, January 13th. Finally, Wall Street Zen lowered KKR & Co. Inc. from a “hold” rating to a “sell” rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $156.43.

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.