Royal Bank Of Canada Issues Positive Forecast for KKR & Co. Inc. (NYSE:KKR) Stock Price

KKR & Co. Inc. (NYSE:KKR) had its price objective hoisted by Royal Bank Of Canada from $125.00 to $134.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the asset manager’s stock.

KKR has been the topic of a number of other research reports. UBS Group lifted their price objective on KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. BMO Capital Markets lowered their target price on KKR & Co. Inc. from $120.00 to $112.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. Weiss Ratings upgraded KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, June 16th. The Goldman Sachs Group cut their target price on shares of KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Finally, HSBC boosted their price target on shares of KKR & Co. Inc. from $118.00 to $121.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $129.75.

KKR & Co. Inc. Trading Up 0.7%

Shares of KKR & Co. Inc. stock opened at $101.69 on Friday. KKR & Co. Inc. has a twelve month low of $82.67 and a twelve month high of $152.10. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.70. The business has a 50-day moving average price of $95.99 and a 200-day moving average price of $99.30. The firm has a market cap of $91.31 billion, a price-to-earnings ratio of 32.39, a PEG ratio of 0.85 and a beta of 1.79.

KKR & Co. Inc. (NYSE:KKR) last posted its earnings results 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 return on equity of 5.89% and a net margin of 14.41%.The company had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the previous year, the business earned $1.18 earnings per share. Equities research analysts anticipate that KKR & Co. Inc. will post 5.54 EPS for the current fiscal year.

KKR & Co. Inc. announced that its Board of Directors has initiated a share repurchase plan on Tuesday, May 5th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the asset manager to purchase 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 stock is undervalued.

KKR & Co. Inc. Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Monday, August 10th. This represents a $0.78 dividend on an annualized basis and a yield of 0.8%. KKR & Co. Inc.’s dividend payout ratio is 26.53%.

Hedge Funds Weigh In On KKR & Co. Inc.

Institutional investors and hedge funds have recently modified their holdings of the stock. SteelPeak Wealth LLC raised its holdings in KKR & Co. Inc. by 3.2% during the 4th quarter. SteelPeak Wealth LLC now owns 2,549 shares of the asset manager’s stock valued at $325,000 after buying an additional 80 shares during the period. Modera Wealth Management LLC boosted its stake in KKR & Co. Inc. by 4.9% during the fourth quarter. Modera Wealth Management LLC now owns 1,789 shares of the asset manager’s stock worth $228,000 after buying an additional 84 shares during the period. Sound Income Strategies LLC boosted its stake in KKR & Co. Inc. by 9.1% during the fourth quarter. Sound Income Strategies LLC now owns 1,084 shares of the asset manager’s stock worth $143,000 after buying an additional 90 shares during the period. Praxis Investment Management Inc. boosted its stake in KKR & Co. Inc. by 0.9% during the fourth quarter. Praxis Investment Management Inc. now owns 10,006 shares of the asset manager’s stock worth $1,276,000 after buying an additional 94 shares during the period. Finally, Horizon Bancorp Inc. IN increased its position in KKR & Co. Inc. by 3.8% during the first quarter. Horizon Bancorp Inc. IN now owns 2,622 shares of the asset manager’s stock valued at $243,000 after acquiring an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. News Roundup

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.

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.