Resona Asset Management Co. Ltd. Cuts Position in KKR & Co. Inc. $KKR

Resona Asset Management Co. Ltd. lessened its holdings in KKR & Co. Inc. (NYSE:KKR) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 186,142 shares of the asset manager’s stock after selling 7,855 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in KKR & Co. Inc. were worth $23,794,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of KKR. Strive Asset Management LLC purchased a new position in shares of KKR & Co. Inc. during the third quarter worth approximately $535,907,000. Viking Global Investors LP purchased a new position in shares of KKR & Co. Inc. during the third quarter worth approximately $352,038,000. Close Asset Management Ltd increased its position in shares of KKR & Co. Inc. by 4,155.1% during the third quarter. Close Asset Management Ltd now owns 1,515,299 shares of the asset manager’s stock worth $196,845,000 after acquiring an additional 1,479,688 shares during the period. Vanguard Group Inc. increased its position in shares of KKR & Co. Inc. by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 60,064,587 shares of the asset manager’s stock worth $7,657,034,000 after acquiring an additional 821,739 shares during the period. Finally, M&T Bank Corp increased its position in shares of KKR & Co. Inc. by 3,981.9% during the fourth quarter. M&T Bank Corp now owns 718,536 shares of the asset manager’s stock worth $91,599,000 after acquiring an additional 700,933 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on KKR shares. BMO Capital Markets cut their price target on KKR & Co. Inc. from $125.00 to $106.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 24th. Piper Sandler cut their price target on KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. Wall Street Zen upgraded KKR & Co. Inc. from a “sell” rating to a “hold” rating in a research note on Sunday, January 25th. HSBC raised shares of KKR & Co. Inc. from a “hold” rating to a “buy” rating and set a $144.00 price objective on the stock in a report on Wednesday, January 28th. Finally, Morgan Stanley cut their price objective on shares of KKR & Co. Inc. from $177.00 to $153.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $134.53.

Insider Buying and Selling

In related news, Director Timothy R. Barakett acquired 50,000 shares of the stock in a transaction on 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 transaction, the director owned 285,000 shares in the company, valued at approximately $26,923,950. This trade represents a 21.28% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 23.20% of the company’s stock.

KKR & Co. Inc. Stock Performance

KKR opened at $92.95 on Wednesday. KKR & Co. Inc. has a 52-week low of $82.67 and a 52-week high of $153.87. 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 company has a market cap of $83.46 billion, a P/E ratio of 31.62, a price-to-earnings-growth ratio of 0.85 and a beta of 1.85. The firm’s 50-day moving average price is $95.39 and its 200-day moving average price is $110.42.

KKR & Co. Inc. (NYSE:KKR) last announced 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 net margin of 13.94% and a return on equity of 5.42%. The firm had revenue of $5.74 billion for the quarter. As a group, equities analysts anticipate that KKR & Co. Inc. will post 5.46 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be given a $0.195 dividend. The ex-dividend date is Friday, May 15th. This represents a $0.78 annualized dividend and a yield of 0.8%. This is a boost from KKR & Co. Inc.’s previous quarterly dividend of $0.19. KKR & Co. Inc.’s payout ratio is currently 26.53%.

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

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.