Sumitomo Mitsui Trust Group Inc. Has $122.09 Million Stock Holdings in KKR & Co. Inc. $KKR

Sumitomo Mitsui Trust Group Inc. lowered its holdings in KKR & Co. Inc. (NYSE:KKR) by 5.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,319,916 shares of the asset manager’s stock after selling 69,637 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in KKR & Co. Inc. were worth $122,092,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake 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 worth $689,000 after acquiring an additional 2,437 shares during the last quarter. Bison Wealth LLC acquired a new position in KKR & Co. Inc. during the 4th quarter valued at $218,000. Sivia Capital Partners LLC boosted its holdings in 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 valued at $273,000 after purchasing an additional 237 shares during the period. United Bank bought a new stake in KKR & Co. Inc. in the 2nd quarter valued at $769,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in KKR & Co. Inc. in the 2nd quarter worth $4,826,000. 76.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on KKR shares. The Goldman Sachs Group dropped their price objective on shares of KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. BMO Capital Markets reduced 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 research note on Tuesday, March 24th. Royal Bank Of Canada decreased their target price on KKR & Co. Inc. from $132.00 to $128.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 6th. Piper Sandler lowered their price target on KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. Finally, Morgan Stanley cut their price target on KKR & Co. Inc. from $177.00 to $153.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $131.85.

KKR & Co. Inc. Stock Performance

KKR & Co. Inc. stock traded up $0.68 on Friday, hitting $96.95. The company’s stock had a trading volume of 2,839,186 shares, compared to its average volume of 4,302,104. KKR & Co. Inc. has a one year low of $82.67 and a one year high of $153.87. The firm has a market cap of $87.05 billion, a P/E ratio of 32.98, a price-to-earnings-growth ratio of 0.83 and a beta of 1.79. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.70. The company has a fifty day moving average price of $95.69 and a 200-day moving average price of $102.63.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings data on Friday, February 27th. The asset manager reported $1.24 EPS for the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. The company had revenue of $5.74 billion during the quarter. On average, equities analysts anticipate that KKR & Co. Inc. will post 5.51 earnings per share for the current year.

KKR & Co. Inc. announced that its board has authorized a stock repurchase plan on Tuesday, May 5th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to purchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

KKR & Co. Inc. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were paid a dividend of $0.195 per share. This is a positive change from KKR & Co. Inc.’s previous quarterly dividend of $0.18. This represents a $0.78 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, May 15th. KKR & Co. Inc.’s dividend payout ratio is 26.53%.

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.