KKR & Co. Inc. (NYSE:KKR) Price Target Raised to $135.00 at Barclays

KKR & Co. Inc. (NYSE:KKR) had its target price boosted by Barclays from $124.00 to $135.00 in a research report released on Friday,Benzinga reports. Barclays currently has an overweight rating on the asset manager’s stock.

A number of other equities research analysts also recently commented on KKR. BMO Capital Markets reduced their price objective on shares of KKR & Co. Inc. from $120.00 to $112.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. TD Cowen dropped their target price on KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating on the stock in a research report on Monday, May 18th. Weiss Ratings raised KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, June 16th. HSBC raised their price target on KKR & Co. Inc. from $118.00 to $121.00 and gave the company a “buy” rating in a report on Monday, July 20th. Finally, The Goldman Sachs Group decreased their price target on KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $129.75.

KKR & Co. Inc. Stock Up 0.7%

Shares of KKR & Co. Inc. stock opened at $101.69 on Friday. KKR & Co. Inc. has a one year low of $82.67 and a one year high of $152.10. The company has a market cap of $91.31 billion, a P/E ratio of 32.39, a PEG ratio of 0.85 and a beta of 1.79. 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 firm has a fifty day moving average of $95.99 and a two-hundred day moving average of $99.30.

KKR & Co. Inc. (NYSE:KKR) last issued its earnings results on Thursday, July 30th. The asset manager reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.20. KKR & Co. Inc. had a net margin of 14.41% and a return on equity of 5.89%. The business had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the previous year, the firm earned $1.18 earnings per share. On average, analysts forecast that KKR & Co. Inc. will post 5.54 earnings per share for the current year.

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

KKR & Co. Inc. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Monday, August 10th will be given a $0.195 dividend. The ex-dividend date is Monday, August 10th. This represents a $0.78 annualized dividend and a dividend yield of 0.8%. KKR & Co. Inc.’s payout ratio is currently 26.53%.

Institutional Investors Weigh In On KKR & Co. Inc.

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of KKR & Co. Inc. by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 60,064,587 shares of the asset manager’s stock valued at $7,657,034,000 after purchasing an additional 821,739 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of KKR & Co. Inc. by 6.9% in the first quarter. Principal Financial Group Inc. now owns 19,507,741 shares of the asset manager’s stock valued at $1,804,470,000 after purchasing an additional 1,261,314 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of KKR & Co. Inc. by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 14,995,742 shares of the asset manager’s stock worth $1,903,220,000 after purchasing an additional 146,285 shares in the last quarter. Norges Bank purchased a new position in shares of KKR & Co. Inc. during the 4th quarter worth approximately $1,715,929,000. Finally, First Manhattan CO. LLC. raised its position in shares of KKR & Co. Inc. by 0.8% during the 4th quarter. First Manhattan CO. LLC. now owns 8,597,044 shares of the asset manager’s stock worth $1,095,951,000 after purchasing an additional 67,441 shares during the last quarter. 76.26% of the stock is owned by institutional investors and hedge funds.

Key KKR & Co. Inc. News

Here are the key news stories impacting KKR & Co. Inc. this week:

• Positive Sentiment: Quarterly earnings beat expectations: KKR reported second-quarter EPS of $1.63, ahead of the $1.42–$1.43 consensus and up from $1.18 a year earlier. Revenue reached $5.73 billion versus estimates of $2.95 billion. Growth was driven by higher assets under management, management fees, transaction fees, fundraising and inflows in its asset-management and insurance businesses. KKR Q2 Earnings and Revenues Top Estimates
• Positive Sentiment: Analysts raised price targets: Royal Bank of Canada increased its target from $125 to $134 and maintained an “outperform” rating, while Barclays raised its target from $124 to $135 and assigned an “overweight” rating. The new targets imply roughly 32% upside from the referenced share price, reinforcing confidence in KKR’s earnings and growth outlook. Analyst Price Target Updates
• Neutral Sentiment: Potential Integer Holdings acquisition: Reports say KKR is nearing a deal to acquire medical-device outsourcing company Integer Holdings. The transaction could expand KKR’s healthcare investment portfolio, although its eventual valuation, financing and execution risks remain unknown. KKR Nearing Deal to Acquire Integer Holdings
• Neutral Sentiment: Dividend declared: KKR announced a quarterly dividend of $0.195 per share, payable August 25 to shareholders of record August 10. The dividend provides continued shareholder income, though its approximately 0.8% annualized yield is unlikely to be a major share-price catalyst.

KKR & Co. Inc. Company 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.