OP Asset Management Ltd Makes New Investment in KKR & Co. Inc. $KKR

OP Asset Management Ltd acquired a new stake in shares of KKR & Co. Inc. (NYSE:KKR) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 63,470 shares of the asset manager’s stock, valued at approximately $5,871,000.

Several other large investors have also made changes to their positions in KKR. Asset Dedication LLC acquired a new stake in KKR & Co. Inc. during the 3rd quarter worth about $26,000. GGM Financials LLC acquired a new position in shares of KKR & Co. Inc. in the 3rd quarter valued at about $27,000. Washington Trust Advisors Inc. purchased a new stake in shares of KKR & Co. Inc. in the fourth quarter worth about $27,000. Elyxium Wealth LLC purchased a new stake in shares of KKR & Co. Inc. in the fourth quarter worth about $27,000. Finally, SouthState Bank Corp grew its holdings in 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 period. 76.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KKR has been the subject of several recent research reports. Weiss Ratings upgraded KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, June 16th. Morgan Stanley dropped their price objective on shares of KKR & Co. Inc. from $177.00 to $153.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. BMO Capital Markets cut their target price on shares of KKR & Co. Inc. from $125.00 to $106.00 and set an “outperform” rating for the company in a report on Tuesday, March 24th. Oppenheimer decreased their target price on shares of KKR & Co. Inc. from $187.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, April 13th. Finally, Piper Sandler dropped their price target on shares of KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $134.53.

KKR & Co. Inc. Stock Performance

NYSE:KKR opened at $92.67 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.08 and a current ratio of 0.08. The stock has a market capitalization of $83.20 billion, a PE ratio of 31.52, a P/E/G ratio of 0.79 and a beta of 1.79. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $153.87. The company has a fifty day moving average of $97.70 and a two-hundred day moving average of $105.61.

KKR & Co. Inc. (NYSE:KKR) last released its earnings results on Friday, February 27th. The asset manager reported $1.24 EPS for the quarter. The business had revenue of $5.74 billion during the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. As a group, research analysts forecast that KKR & Co. Inc. will post 5.53 earnings per share for the current fiscal year.

KKR & Co. Inc. announced that its Board of Directors has initiated a stock repurchase 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 generally an indication that the company’s leadership believes its stock is undervalued.

KKR & Co. Inc. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a $0.195 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.78 annualized dividend and a yield of 0.8%. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.18. KKR & Co. Inc.’s dividend payout ratio is currently 26.53%.

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.