Danica Pension Livsforsikringsaktieselskab Buys New Position in KKR & Co. Inc. $KKR

Danica Pension Livsforsikringsaktieselskab bought a new stake in KKR & Co. Inc. (NYSE:KKR) during the first quarter, HoldingsChannel.com reports. The fund bought 96,115 shares of the asset manager’s stock, valued at approximately $8,891,000.

Several other hedge funds also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of KKR & Co. Inc. during the fourth quarter worth about $1,715,929,000. Viking Global Investors LP purchased a new position in shares of KKR & Co. Inc. during the third quarter valued at approximately $352,038,000. Farallon Capital Management LLC purchased a new position in shares of KKR & Co. Inc. during the fourth quarter valued at approximately $257,216,000. Price T Rowe Associates Inc. MD boosted its position in KKR & Co. Inc. by 41.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,401,951 shares of the asset manager’s stock worth $561,161,000 after acquiring an additional 1,295,099 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in KKR & Co. Inc. by 6.9% during the first quarter. Principal Financial Group Inc. now owns 19,507,741 shares of the asset manager’s stock worth $1,804,470,000 after acquiring an additional 1,261,314 shares during the last quarter. 76.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KKR has been the subject of several analyst reports. Oppenheimer cut their price target on KKR & Co. Inc. from $143.00 to $139.00 and set an “outperform” rating for the company in a report on Friday, July 17th. The Goldman Sachs Group decreased their price objective on KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. TD Cowen lowered their price objective on KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating for the company in a research report on Monday, May 18th. Morgan Stanley lowered their price objective on KKR & Co. Inc. from $153.00 to $147.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, BMO Capital Markets dropped their target price on KKR & Co. Inc. from $120.00 to $112.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, KKR & Co. Inc. has a consensus rating of “Moderate Buy” and a consensus price target of $128.08.

Insider Buying and Selling

In other KKR & Co. Inc. news, EVP Yael Cosset sold 30,000 shares of the company’s stock in a transaction dated Tuesday, July 14th. The stock was sold at an average price of $58.80, for a total transaction of $1,764,000.00. Following the completion of the sale, the executive vice president directly owned 127,868 shares in the company, valued at $7,518,638.40. This represents a 19.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 23.20% of the stock is owned by corporate insiders.

KKR & Co. Inc. Stock Down 1.5%

Shares of KKR opened at $95.66 on Thursday. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $153.87. The company’s fifty day moving average is $95.33 and its two-hundred day moving average is $100.68. The firm has a market cap of $85.89 billion, a PE ratio of 32.54, a price-to-earnings-growth ratio of 0.82 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.

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. The business had revenue of $5.74 billion during the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%. Analysts forecast that KKR & Co. Inc. will post 5.54 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

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

KKR & Co. Inc. announced that its Board of Directors has initiated a share buyback program on Tuesday, May 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the asset manager to buy up to 0.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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.