Synovus Financial Corp Purchases 9,748 Shares of KKR & Co. Inc. $KKR

Synovus Financial Corp increased its holdings in shares of KKR & Co. Inc. (NYSE:KKR) by 68.5% in the third quarter, HoldingsChannel reports. The firm owned 23,970 shares of the asset manager’s stock after buying an additional 9,748 shares during the period. Synovus Financial Corp’s holdings in KKR & Co. Inc. were worth $3,115,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of KKR. Brighton Jones LLC increased its holdings in shares of KKR & Co. Inc. by 109.6% during the 4th quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager’s stock worth $689,000 after acquiring an additional 2,437 shares during the last quarter. Bison Wealth LLC bought a new position in KKR & Co. Inc. during the fourth quarter worth $218,000. Sivia Capital Partners LLC boosted its position in KKR & Co. Inc. by 13.1% during the second quarter. Sivia Capital Partners LLC now owns 2,050 shares of the asset manager’s stock worth $273,000 after purchasing an additional 237 shares during the period. United Bank acquired a new position in shares of KKR & Co. Inc. in the second quarter valued at $769,000. Finally, Avidian Wealth Enterprises LLC bought a new position in shares of KKR & Co. Inc. in the second quarter valued at about $211,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

KKR & Co. Inc. Stock Performance

Shares of NYSE:KKR opened at $101.14 on Friday. KKR & Co. Inc. has a 12-month low of $86.15 and a 12-month high of $153.87. The company’s 50 day moving average price is $120.99 and its two-hundred day moving average price is $127.34. The firm has a market cap of $90.15 billion, a PE ratio of 43.22, a PEG ratio of 0.80 and a beta of 1.99. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.75.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings results on Thursday, February 5th. The asset manager reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The business had revenue of $5.93 billion during the quarter, compared to analyst estimates of $2.23 billion. KKR & Co. Inc. had a net margin of 11.97% and a return on equity of 5.77%. The firm’s quarterly revenue was up 76.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.32 earnings per share. Equities research analysts predict that KKR & Co. Inc. will post 5.19 earnings per share for the current year.

KKR & Co. Inc. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th will be given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Tuesday, February 17th. KKR & Co. Inc.’s dividend payout ratio is presently 31.62%.

Wall Street Analyst Weigh In

Several analysts recently commented on KKR shares. Barclays reduced their target price on shares of KKR & Co. Inc. from $159.00 to $136.00 and set an “overweight” rating for the company in a report on Friday, February 6th. TD Cowen cut KKR & Co. Inc. from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $146.00 to $131.00 in a report on Wednesday, January 14th. UBS Group lowered their target price on KKR & Co. Inc. from $168.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday. HSBC raised KKR & Co. Inc. from a “hold” rating to a “buy” rating and set a $144.00 price target for the company in a report on Wednesday, January 28th. Finally, Oppenheimer reduced their price target on KKR & Co. Inc. from $190.00 to $187.00 and set an “outperform” rating for the company in a research note on Friday, February 6th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $153.50.

Insider Buying and Selling

In other news, CEO Joseph Y. Bae acquired 125,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was acquired at an average price of $102.19 per share, with a total value of $12,773,750.00. Following the completion of the transaction, the chief executive officer directly owned 509,257 shares of the company’s stock, valued at $52,040,972.83. This trade represents a 32.53% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott C. Nuttall acquired 125,000 shares of KKR & Co. Inc. stock in a transaction on Tuesday, February 17th. The shares were purchased at an average price of $102.66 per share, for a total transaction of $12,832,500.00. Following the completion of the purchase, the chief executive officer directly owned 15,503,748 shares of the company’s stock, valued at approximately $1,591,614,769.68. This represents a 0.81% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders purchased 343,872 shares of company stock valued at $35,367,179. Company insiders own 39.34% of the company’s stock.

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.