Northwestern Mutual Wealth Management Co. Acquires 6,403 Shares of KKR & Co. Inc. $KKR

Northwestern Mutual Wealth Management Co. lifted its holdings in KKR & Co. Inc. (NYSE:KKR) by 9.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,337 shares of the asset manager’s stock after acquiring an additional 6,403 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in KKR & Co. Inc. were worth $9,604,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in KKR. Huntington National Bank lifted its position in shares of KKR & Co. Inc. by 4.4% in the 4th quarter. Huntington National Bank now owns 6,516 shares of the asset manager’s stock valued at $831,000 after acquiring an additional 273 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc bought a new position in KKR & Co. Inc. during the fourth quarter valued at about $394,000. Geode Capital Management LLC grew its position in KKR & Co. Inc. by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 14,995,742 shares of the asset manager’s stock valued at $1,903,220,000 after buying an additional 146,285 shares during the period. Harbour Investments Inc. grew its position in KKR & Co. Inc. by 21.2% during the fourth quarter. Harbour Investments Inc. now owns 807 shares of the asset manager’s stock valued at $103,000 after buying an additional 141 shares during the period. Finally, Allstate Corp grew its position in KKR & Co. Inc. by 104.0% during the fourth quarter. Allstate Corp now owns 47,469 shares of the asset manager’s stock valued at $6,051,000 after buying an additional 24,203 shares during the period. Institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Trading Down 0.9%

KKR opened at $95.04 on Tuesday. KKR & Co. Inc. has a one year low of $82.67 and a one year high of $153.87. The company has a market cap of $85.34 billion, a P/E ratio of 32.33, a PEG ratio of 0.83 and a beta of 1.85. 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 business’s 50-day simple moving average is $96.55 and its 200-day simple moving average is $108.86.

KKR & Co. Inc. (NYSE:KKR) last posted its quarterly earnings data on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%.The company had revenue of $5.74 billion during the quarter. As a group, equities research analysts expect that KKR & Co. Inc. will post 5.51 EPS for the current fiscal year.

KKR & Co. Inc. announced 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 repurchase up to 0.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

KKR & Co. Inc. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a $0.195 dividend. This represents a $0.78 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Friday, May 15th. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.19. KKR & Co. Inc.’s dividend payout ratio (DPR) is 26.53%.

Insiders Place Their Bets

In other KKR & Co. Inc. news, Director Timothy R. Barakett acquired 50,000 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were acquired at an average price of $94.47 per share, for a total transaction of $4,723,500.00. Following the completion of the acquisition, the director directly owned 285,000 shares of the company’s stock, valued at $26,923,950. This trade represents a 21.28% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 23.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

KKR has been the subject of several research reports. Piper Sandler reduced their price target on shares of KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. Zacks Research upgraded shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. TD Cowen reduced their price target on shares of KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating for the company in a research report on Monday, May 18th. Weiss Ratings lowered shares of KKR & Co. Inc. from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, May 21st. Finally, Oppenheimer reduced their price target on shares of KKR & Co. Inc. from $187.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $134.53.

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.