Rathbones Group PLC Grows Position in KKR & Co. Inc. $KKR

Rathbones Group PLC raised its position in KKR & Co. Inc. (NYSE:KKR) by 20.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,810,812 shares of the asset manager’s stock after buying an additional 310,265 shares during the quarter. Rathbones Group PLC’s holdings in KKR & Co. Inc. were worth $167,500,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Washington Trust Advisors Inc. purchased a new position in shares of KKR & Co. Inc. during the fourth quarter worth approximately $27,000. Elyxium Wealth LLC purchased a new stake in KKR & Co. Inc. in the 4th quarter valued at $27,000. SouthState Bank Corp raised its position in KKR & Co. Inc. by 185.0% in the 4th quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 148 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new stake in KKR & Co. Inc. during the 4th quarter worth $29,000. Finally, MV Capital Management Inc. acquired a new stake in KKR & Co. Inc. during the 4th quarter worth $31,000. 76.26% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting KKR & Co. Inc.

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.

Wall Street Analysts Forecast Growth

A number of research firms have commented on KKR. HSBC lifted their price objective on shares of KKR & Co. Inc. from $118.00 to $121.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Oppenheimer decreased their target price on shares of KKR & Co. Inc. from $143.00 to $139.00 and set an “outperform” rating for the company in a research note on Friday, July 17th. 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 report on Tuesday, April 7th. Royal Bank Of Canada boosted their price target on KKR & Co. Inc. from $125.00 to $134.00 and gave the company an “outperform” rating in a research report on Friday. Finally, TD Cowen reduced their price objective on KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating for the company in a research note on Monday, May 18th. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $129.75.

KKR & Co. Inc. Stock Performance

NYSE:KKR opened at $101.69 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a market cap of $91.31 billion, a price-to-earnings ratio of 32.39, a price-to-earnings-growth ratio of 0.86 and a beta of 1.78. The firm’s fifty day moving average price is $95.99 and its 200 day moving average price is $99.06. KKR & Co. Inc. has a 1-year low of $82.67 and a 1-year high of $152.10.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings data on Thursday, July 30th. The asset manager reported $1.63 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the prior year, the firm earned $1.18 EPS. On average, sell-side analysts expect that KKR & Co. Inc. will post 5.54 EPS for the current year.

KKR & Co. Inc. announced that its Board of Directors has authorized a share buyback plan on Tuesday, May 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the asset manager to reacquire up to 0.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

KKR & Co. Inc. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Monday, August 10th will be paid a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, August 10th. KKR & Co. Inc.’s payout ratio is 24.84%.

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.