Wealthfront Advisers LLC Takes Position in KKR & Co. Inc. $KKR

Wealthfront Advisers LLC bought a new position in shares of KKR & Co. Inc. (NYSE:KKR) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 29,141 shares of the asset manager’s stock, valued at approximately $2,675,000.

Several other hedge funds and other institutional investors have also modified their holdings of KKR. Washington Trust Advisors Inc. acquired a new stake in KKR & Co. Inc. during the fourth quarter worth approximately $27,000. Elyxium Wealth LLC acquired a new position in shares of KKR & Co. Inc. in the fourth quarter valued at approximately $27,000. SouthState Bank Corp grew its position in shares of KKR & Co. Inc. by 185.0% in the fourth 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 bought a new position in shares of KKR & Co. Inc. during the fourth quarter worth approximately $29,000. Finally, MV Capital Management Inc. bought a new position in shares of KKR & Co. Inc. during the fourth quarter worth approximately $31,000. Institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Trading Down 2.9%

KKR opened at $107.21 on Friday. The stock has a market capitalization of $96.24 billion, a price-to-earnings ratio of 34.14, a P/E/G ratio of 0.94 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. KKR & Co. Inc. has a twelve month low of $82.67 and a twelve month high of $152.10. The company has a 50-day simple moving average of $99.84 and a 200 day simple moving average of $97.55.

KKR & Co. Inc. (NYSE:KKR) last released its earnings results on Thursday, July 30th. The asset manager reported $1.63 EPS for the quarter, beating the consensus estimate of $1.43 by $0.20. The firm 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 period last year, the firm earned $1.18 EPS. Analysts predict that KKR & Co. Inc. will post 5.68 EPS for the current fiscal year.

KKR & Co. Inc. declared that its Board of Directors has approved a stock repurchase plan on Tuesday, May 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the asset manager to repurchase up to 0.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

KKR & Co. Inc. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Monday, August 10th will be given a dividend of $0.195 per share. The ex-dividend date 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 currently 24.84%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. BMO Capital Markets boosted their price target 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. UBS Group lifted their target price on KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Barclays boosted their target price on shares of KKR & Co. Inc. from $124.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. TD Cowen upped their price target on shares of KKR & Co. Inc. from $108.00 to $111.00 and gave the company a “hold” rating in a research note on Monday, August 3rd. Finally, Oppenheimer lowered their price target on shares of KKR & Co. Inc. from $143.00 to $139.00 and set an “outperform” rating on the stock in a research report on Friday, July 17th. Twelve equities research 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 an average price target of $127.75.

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.