118,535 Shares in KKR & Co. Inc. $KKR Acquired by Cornerstone Advisors LLC

Cornerstone Advisors LLC bought a new position in KKR & Co. Inc. (NYSE:KKR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 118,535 shares of the asset manager’s stock, valued at approximately $10,879,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. B & T Capital Management DBA Alpha Capital Management purchased a new position in shares of KKR & Co. Inc. during the second quarter worth approximately $9,353,000. Pallas Capital Advisors LLC purchased a new stake in shares of KKR & Co. Inc. in the 2nd quarter valued at $612,000. Performance Wealth Partners LLC bought a new position in shares of KKR & Co. Inc. during the 2nd quarter valued at $218,000. Deutsche Bank AG bought a new position in shares of KKR & Co. Inc. during the 2nd quarter valued at $148,544,000. Finally, Perigon Wealth Management LLC bought a new position in shares of KKR & Co. Inc. during the 2nd quarter valued at $491,000. 76.26% of the stock is currently owned by institutional investors.

KKR & Co. Inc. Trading Down 4.3%

Shares of KKR opened at $109.08 on Tuesday. The stock has a market capitalization of $97.91 billion, a P/E ratio of 34.74, a PEG ratio of 0.97 and a beta of 1.78. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.71. The firm has a fifty day simple moving average of $99.07 and a two-hundred day simple moving average of $97.70. KKR & Co. Inc. has a twelve month low of $82.67 and a twelve month high of $152.10.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings results on Thursday, July 30th. The asset manager reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.20. The business had revenue of $5.73 billion for the quarter, compared to analyst estimates of $2.55 billion. KKR & Co. Inc. had a net margin of 14.41% and a return on equity of 5.88%. During the same quarter last year, the firm earned $1.18 EPS. On average, research analysts anticipate that KKR & Co. Inc. will post 5.68 EPS for the current year.

KKR & Co. Inc. declared that its board has approved a share repurchase plan on Tuesday, May 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the asset manager to reacquire up to 0.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

KKR & Co. Inc. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Monday, August 10th will be paid a $0.195 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.78 annualized dividend and a dividend yield of 0.7%. KKR & Co. Inc.’s dividend payout ratio (DPR) is presently 24.84%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. UBS Group boosted their price target on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. HSBC raised their price objective on KKR & Co. Inc. from $118.00 to $121.00 and gave the company a “buy” rating in a research note on Monday, July 20th. BMO Capital Markets boosted their target price on KKR & Co. Inc. from $112.00 to $118.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Weiss Ratings upgraded KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, June 16th. Finally, Royal Bank Of Canada raised their price target on KKR & Co. Inc. from $125.00 to $134.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $127.75.

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.