Ieq Capital LLC Purchases New Holdings in KKR & Co. Inc. $KKR

Ieq Capital LLC bought a new stake in KKR & Co. Inc. (NYSE:KKR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 142,000 shares of the asset manager’s stock, valued at approximately $13,033,000.

Other large investors have also recently added to or reduced their stakes in the company. Washington Trust Advisors Inc. purchased a new position in shares of KKR & Co. Inc. during the 4th quarter worth approximately $27,000. Elyxium Wealth LLC acquired a new position in shares of KKR & Co. Inc. during the 4th quarter worth $27,000. SouthState Bank Corp lifted its holdings 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 in the last quarter. Garton & Associates Financial Advisors LLC purchased a new stake in KKR & Co. Inc. in the 4th quarter valued at approximately $29,000. Finally, MV Capital Management Inc. purchased a new stake in shares of KKR & Co. Inc. in the fourth quarter valued at $31,000. 76.26% of the stock is owned by hedge funds and other institutional investors.

KKR & Co. Inc. Trading Up 1.5%

Shares of NYSE KKR opened at $108.59 on Friday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.71. The company has a market cap of $97.47 billion, a price-to-earnings ratio of 34.58, a price-to-earnings-growth ratio of 0.93 and a beta of 1.78. KKR & Co. Inc. has a 12-month low of $82.67 and a 12-month high of $152.10. The stock’s 50 day simple moving average is $100.09 and its 200 day simple moving average is $97.62.

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, beating the consensus estimate of $1.43 by $0.20. The company had revenue of $5.73 billion during the quarter, compared to the consensus estimate 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 in the previous year, the company posted $1.18 earnings per share. Equities research analysts expect that KKR & Co. Inc. will post 5.68 EPS for the current year.

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

KKR & Co. Inc. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Monday, August 10th will be given a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, August 10th. KKR & Co. Inc.’s payout ratio is 24.84%.

Analyst Ratings Changes

A number of brokerages recently issued reports on KKR. Royal Bank Of Canada raised their target price on shares of KKR & Co. Inc. from $125.00 to $134.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Morgan Stanley dropped their target price on shares of KKR & Co. Inc. from $153.00 to $147.00 and set an “overweight” rating for the company in a research report on Tuesday, July 21st. Keefe, Bruyette & Woods raised KKR & Co. Inc. to a “moderate buy” rating in a research report on Monday, July 20th. TD Cowen boosted their target price on shares of KKR & Co. Inc. from $108.00 to $111.00 and gave the stock a “hold” rating in a research report on Monday, August 3rd. Finally, Weiss Ratings raised KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, June 16th. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.